Cloud Storage Market

The cloud storage market is anticipated to expand at a Compound Annual Growth Rate (CAGR) of 18.8% from USD 99.2 billion in 2023 to USD 234.9 billion in 2028 over the course of the forecast period. An urge for convenient deployment in disaster-prone areas, adherence to regulatory compliance and government-led reporting standards across verticals and regions, and demand for enterprise service management across verticals are expected to drive the growth of the global Cloud Storage market.

Major Cloud Storage Companies Include

• IBM (US)
• Oracle (US)
• Microsoft (US)
• AWS (US)
• Alibaba Cloud (China)
• Huawei Cloud (China)
• Rackspace Technology (US)
• HPE (US)
• Dell (US)

To know about the assumptions considered for the study download the pdf brochure

IBM

Leading the way in cloud platform services and cognitive solutions, IBM operates in a variety of industries including cloud, IT infrastructure, security, services, and research. IBM provides infrastructure, hosting, and consulting services in the areas of software, security, outsourcing, business analytics optimization, and customer relationship management. The company's main goal is to create products and solutions that utilise cutting-edge technology, such as big data, analytics, IoT, AI and ML, and analytics. The business also provides clients with services to assist them transform their businesses. Application services, security, cloud services, business process outsourcing (BPO), digital workplace services, and other services are included in the service portfolio.

Oracle

Oracle offers the Oracle Cloud in the cloud domain, further categorized into Oracle Cloud PaaS, Oracle Cloud SaaS, and Oracle Cloud Infrastructure (OCI). OCI encompasses compute, storage, network, container services, and migration tools. In the cloud storage market, OCI offers low-cost cloud storage options, including Block Volumes, high-performance block storage that uses Non-Volatile Memory Express (NVMe) SSDs and provides nonblocking network connectivity; Object Storage, flexible object storage that enables customers to store any type of data; File storage, a fully managed NFS for automatic scaling; All-Flash Local Storage, a local NVMe SSD storage for VMs; and Archive Storage, a long-term, low-cost data storage.

The company serves a variety of industry verticals, including automotive, financial services, healthcare, hospitality, public sector, retail, and utilities, and operates in key geographic regions, such as North America, Latin America, Europe, Middle East & Africa, and Asia Pacific.

Microsoft

Microsoft is a prominent enterprise that engages in the development, production, maintenance, and distribution of various software products and services. The company offers a range of productivity, mobility, and cloud solutions. Major cloud products from Microsoft include IaaS and PaaS, as well as SaaS (Microsoft Dynamics Online [Enterprise Resource Planning (ERP) Plus Customer Relationship Management (CRM)] and O365 Online) (Microsoft Azure [compute, integration, and networking]). Microsoft has made significant investments in managed services for edge computing, IoT, and hybrid cloud platforms. Microsoft now leads its competitors in the IIoT and edge computing sectors because to innovations like Azure Sphere, Digital Twins, and Azure IoT Central. The business unveiled Azure Edge Zones, an amalgam of hardware, fast 5G networks, and cloud-managed services. Azure provides a cloud storage platform called Microsoft Azure Storage, which includes a number of data storage services. These services include Azure Blobs, which is a scalable object store for text and binary data; Azure Files, which is a managed file sharing service for cloud deployments; Azure Queues, which is a messaging store for messaging between application components; Azure Tables, which is a NoSQL store for schema-less storage of structured data; and Azure Disks, which are block storage volumes of Azure virtual machines. It serves a number of industries, including manufacturing, education, BFSI, healthcare, retail, and government. The business serves a wide range of clients in more than 100 nations in North America, the Middle East & Africa, Asia Pacific, Latin America, and Europe.

AWS (Amazon Web Services):

A subsidiary of Amazon providing on-demand cloud computing platforms and APIs to individuals, companies, and governments, on a metered pay-as-you-go basis.AWS offers a wide range of cloud services including computing power, storage, databases, machine learning, analytics, and more.Founded in 2006, AWS has grown to become one of the leading cloud service providers globally.

Alibaba Cloud:

The cloud computing arm of Alibaba Group, one of the world's largest e-commerce and technology conglomerates.Alibaba Cloud provides a comprehensive suite of cloud computing services to businesses worldwide, including computing, storage, databases, networking, big data analytics, and artificial intelligence.Established in 2009, Alibaba Cloud has rapidly expanded its presence and capabilities in the global cloud market.

Huawei Cloud:

The cloud computing services division of Huawei Technologies Co., Ltd., a Chinese multinational technology company.Huawei Cloud offers a range of cloud services such as computing, storage, databases, security, and AI to enterprises and organizations worldwide.Despite facing challenges in some international markets, Huawei Cloud continues to expand its cloud offerings and global presence. 

Rackspace Technology:

A leading managed cloud services provider based in the United States.Rackspace Technology offers expertise and managed services across the leading public and private cloud technologies, including AWS, Microsoft Azure, Google Cloud Platform, and others.The company assists businesses in optimizing their cloud environments, implementing digital transformations, and managing their IT infrastructure.

HPE (Hewlett Packard Enterprise):

An American multinational enterprise information technology company.HPE provides a wide range of technology solutions to businesses, including servers, storage, networking, software, and services.HPE offers cloud solutions and services tailored to hybrid IT environments, enabling organizations to leverage both on-premises infrastructure and cloud services.

Dell:

An American multinational technology company known for manufacturing and selling computers, servers, storage devices, network switches, software, and other technology products and services.While Dell is not primarily a cloud service provider like AWS or Alibaba Cloud, it offers various infrastructure solutions that support cloud computing, including servers, storage solutions, and networking equipment.Dell also provides consulting and professional services to help organizations design, implement, and manage their cloud environments.

Related Reports:

Cloud Storage Market by Storage Type (File Storage, Object Storage, Block Storage), Services (Training & Consulting, Integration & Implementation, Support & Maintenance), Application (Backup & Recovery, Data Archiving) - Global Forecast to 2028

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