Enjoy complimentary customisation on priority with our Enterprise License!
The stand alone cloud storage market is estimated to grow at a CAGR of 22.94% between 2022 and 2027. The size of the market is forecast to increase by USD 53,361.34 million. The growth of the market depends on several factors, including reduced capital and operating expenditure (OPEX), growing demand for virtually unlimited storage and big data, and significant growth in IoT and big data.
This report extensively covers market segmentation by end-user (large enterprises and SMEs), type (public, private, and hybrid), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The significant growth in IoT and big data are notably driving the market growth, although factors such as migration and latency issues may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The significant growth in IoT and big data are notably driving the market growth. The quantity of data being generated is growing exponentially as digitization is increasingly being adopted. Businesses of all sizes are concentrating on different data collection, analysis, and storage options. One of the key factors in the generation of data is the popularity of social media apps, which are fueled by people using smartphones and high-speed communication channels more frequently. The quantity, speed, and variety of data produced are all rising due to the expansion of social networking applications. Enterprises, thus, require servers with high storage and computation capacity due to the continuous increase in data volume, which will spur the adoption of stand-alone cloud storage solutions during the forecast period.
Additionally, the proliferation of IoT devices is yet another significant factor driving data generation volumes. Due to a number of factors, including the growth of smart cities, the penetration of smart homes, and the application of automation technologies across end-user industries, industries are seeing a substantial adoption of IoT devices. To analyze and understand vast amounts of data, businesses are using advanced technologies like IoT, AI, big data, and ML more frequently. Vendors in the market are also expanding their service capabilities to support big data analytics while also providing high-performance stand-alone cloud storage and distributed storage choices. All these factors are anticipated to drive the growth of the market in focus during the forecast period.
The rise in the adoption of hybrid stand-alone cloud storage systems is an emerging trend in the market. A company has more flexibility to choose the best cloud deployment model for each workload or workgroup with hybrid stand-alone cloud-based systems. Improving data administration, enhancing IT infrastructure management and flexibility, and improving security and compliance are the three main advantages of implementing a hybrid system. Business processes, applications, and cloud services all work together to offer better business solutions and quantifiable advantages, which will enable cloud service providers to give businesses a competitive edge. As a result, they will be able to easily transfer heavy workloads between their private cloud and the public cloud without changing any crucial business processes or raising CAPEX.
During the forecast period, hybrid systems will expand and be implemented at a rapid rate. In-house cloud computing will be the primary component of hybrid systems, with an emphasis on modernizing apps and maintaining business functionality while creating a flexible, scalable model. Hence, all such benefits are expected to propel the growth of the market in focus during the forecast period.
Migration and latency issues are major challenges impeding the market growth. Cloud computing solutions are being adopted by businesses due to advantages like data protection and accessibility. Cloud computing solutions, however, can be difficult to handle and technically complex. Because there is no direct mapping of the services, moving workloads to stand alone cloud infrastructure is complicated. This may affect how well cloud deployments work. Due to the asymmetric network access of stand alone cloud storage, uploads are significantly slower than downloads.
Furthermore, latency is a significant issue for businesses. The problem of latency is getting more complicated as companies move more of their apps to the cloud and deploy them there. For businesses to fully profit from cloud services, it is essential that they manage and minimize such latency issues. Hence, all these factors are anticipated to slow down the growth of the global market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Stand Alone Cloud Storage Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cloudian Inc. - The company offers private cloud storage such as Cloudian Object and File Storage, HyperStore Object Storage, HyperFile NAS Controller, and HyperCare Remote Managed Service. The key offerings of the company include stand alone cloud storage with a sovereign private cloud system.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the large enterprises segment will be significant during the forecast period. The large enterprise segment dominated the market in focus by end-user in 2022 in terms of market size. These businesses are adopting stand-alone cloud data storage solutions because they support large businesses in conducting business operations efficiently and affordably.
Get a glance at the market contribution of various segments Request a PDF Sample
The large enterprises segment was valued at USD 8,371.84 million in 2017 and continued to grow until 2021. Due to the high cost of hardware and physical space, storing data on on-site servers is complicated and expensive for businesses with numerous offices, stores, or plants dispersed across many nations or regions. The rate and volume of data generation are increasing due to the deployment of digital technologies like IoT, AI, and big data, as well as the growing demand for cloud computing. The adoption of stand alone cloud storage solutions during the forecast period is driven by the increasing internet traffic, which is also accelerating the demand for storage space and high processing power in large enterprises. Additional factors influencing large businesses to adopt cybersecurity measures include real-time access to files across multiple platforms and devices and the rise in cyber threats. Thus, during the forecast period, all these factors will contribute to the growth of stand alone cloud storage solutions in the large enterprise segment, which, in turn, is anticipated to drive the growth of the market in focus.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US and Canada are the major revenue contributors to the market in North America. Investments in data centers, the presence of numerous vendors, and the requirement to integrate system platforms with cutting-edge technologies, such as blockchain, AI, and Internet of things (IoT)-enabled applications and data analytics, will all influence future end-user investments in digital transformation services in this region. The main users of these solutions are business sectors like banking, financial services, insurance (BFSI), e-commerce, and telecommunication. The main factor influencing these end-users' adoption of such solutions is cost reduction. Furthermore, the region's demand for standalone cloud storage solutions is anticipated to increase with the deployment and introduction of next-generation technologies like 5G in the telecommunications sector.
Furthermore, the demand for stand-alone cloud storage solutions in North America is anticipated to rise due to the expanding adoption of cutting-edge technologies like AI, IoT, and big data in industries like healthcare and BFSI. Additionally, the biggest cloud storage vendors in North America are providing stand-alone cloud storage solutions to US financial services companies. Thus, such factors will boost the growth of the regional market during the forecast period.
The adoption of the remote working culture was prompted by the imposition of lockdowns throughout the region. Employees were able to communicate and collaborate using cloud-based solutions. Due to the widespread adoption of collaboration and conferencing applications by remote workers, the pandemic accelerated the adoption of standalone cloud storage solutions. Furthermore, the initiation of large-scale COVID-19 vaccination drives led to the lifting of lockdowns in 2021. This resulted in the resumption of business operations of end-user industries like BFSI and telecom, which, in turn, will drive the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global stand alone cloud storage market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Stand Alone Cloud Storage Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 22.94% |
Market growth 2023-2027 |
USD 53,361.34 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
21.17 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 50% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amazon.com Inc., AT and T Inc., Atos SE, Cognizant Technology Solutions Corp., Dell Technologies Inc., Egnyte Inc., Fujitsu Ltd., Google LLC, Hewlett Packard Enterprise Co., International Business Machines Corp., Iron Mountain Inc., Lumen Technologies Inc., Microsoft Corp., Navisite LLC, Quantum Corp., Rackspace Technology Inc., Samsung Electronics Co. Ltd., United Internet AG, Fidelity National Information Services Inc., and Cloudian Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.