Global Cloud Storage Market: Overview
The cloud
storage is considered as a cloud computing model in which statistics are saved
on inaccessible servers or cloud, which can be accessed by the Internet. It is
preserved, managed, operated, and functioned by a cloud storage supplier on
storage servers that are completed on virtualization systems. Organizations can
select among off-premises and on-premises cloud storage selections, or a
mixture of the both options, mainly depending on applicable decision criterion
that is corresponding to primary direct cost savings prospective; for example,
security (PII, HIPAA, SARBOX, IA/CND), disaster recovery (DR), regulations, and
policies, continuity of operations (COOP), and records maintenance laws.
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Global Cloud Storage Market: Growth
Factors
Growth in
demand for backup, low-cost data storage, and data fortification augment the
growth of the global cloud storage market amongst numerous user groups
including small, medium, and big projects. In addition, numerous industry
verticals such as healthcare, BFSI, retail, and public sector with a huge
customer base which tend to store up important business information of
stakeholders in cloud storage, due to data privacy and consumer information,
which in turn expand the global cloud storage market development. In the
current years, cloud storage providers are supporting cloud solutions across
different geographical regions including Europe, North America, Asia Pacific,
and others to increase cloud adoption. Managed services are projected to
understand the maximum growth rate during the coming years as these services
which help to decrease the time and expenditure connected with optimizing the
method in the early phase of operation.
Global Cloud Storage Market:
Segmentation
The global
cloud storage market is divided into public, private, and hybrid models based
upon consumption mode. The hybrid model is a mixture of both public deployment
modes and private, which permits the users to manage cloud space as per privacy
obligation. In addition, the market consists of several industry verticals such
as retail, media & entertainment, Financial Services and Insurance (BFSI),
telecommunication & IT, banking, healthcare, manufacturing, government and
education, and others. The scale for others divisions in industry segment
consists of logistics & transportation, business and professional services,
and construction.
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Global Cloud Storage Market: Regional
Analysis
In the
coming years, Asia Pacific is projected to be the highest growing regional
segment. Industry contributors have realized the significance of amplification
of the global cloud storage market to make a sure backup and data recovery and
easy convenience of documents from several device and setting. On the other
hand, the LAMEA region gradually approves cloud storage solutions all over the
industry verticals such as retail, government, and healthcare. Expansion in
demand for hybrid cloud storage mainly drives the market in the province.
Global Cloud Storage Market:
Competitive players
The key
players in the global cloud storage market include IBM Corporation, EMC
Corporation Amazon Web Services Inc., Rackspace Hosting Inc., Microsoft
Corporation, Hewlett Packard Enterprise Development LP, Google Inc., VMware
Inc., Red Hat Inc., and Oracle Corporation
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