Cloud Object Storage Market 2017 Trends, Sales, Supply, Demand and Analysis by Forecast to 2023
Added: (Tue Nov 14 2017)
The Cloud Object Storage Market is segmented on the basis of service, organization size, cloud deployment and end-user. By cloud deployment it consists of public, private and hybrid. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
The cloud object storage market is growing rapidly over 14% of CAGR and is expected to reach at USD 6 billion by the end of forecast period.
The major growth driver of cloud object storage market includes growing demand for technologically upgraded services, growing expansion of professional and managed services and increasing awareness about cost-effective cloud services among others.
IBM Corporation a prominent player in Cloud Object Storage Market offers widest and most flexible ranges of object storage solutions in the industry. It enable enterprises by allowing them to select the deployment option that meets their needs, including public, dedicated and hybrid cloud or on-premises solutions. Hewlett-Packard Enterprises a major player in cloud storage market has designed cloud object storage technology for ultra-high durability of the data that is available for immediate retrieval. Every object is copied three times and stored in physically separate availability zones. HP Cloud Object Storage is powered by Open Stack technology and runs on high-performance HP servers.
North America region is the leading player in the cloud object storage market owing to the presence of major market players in the region. The cloud based services is adopted by both small and medium enterprises. The factors contributing towards the growth of cloud services in the region is the increasing data volumes from various vertical and technologies such as cloud computing, big data analytics and internet of things boosting the cloud object storage market. Asia-Pacific region to grow significantly in the cloud object storage market by the forecast period. Apart from it the rising adoption of it services and big data analysis is also driving the market.
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Major Key Players:
- Dell EMC (U.S.)
- International Business Machines Corporation (U.S.)
- Hewlett-Packard Enterprise (U.S.)
- Caringo Inc. (U.S.)
- Hitachi Data Systems (U.S.)
- Datadirect Networks (U.S.)
- Netapp, Inc. (U.S.)
- International Data Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Google (U.S.)
Cloud Object Storage Market Segmentation:
Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies.
It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
Market Regional Analysis:
Regional analysis for Cloud Object Storage Market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of World. North America region is mainly dominating the market due to adoption of advanced marketing techniques in enhancing business and increase adoption of analytics by organization in cloud marketing platform. North America region is one of the prominent player in the market due to advanced technological implementation in numerous vertical. European region is also gaining growth owing to growing demand from citizens and huge investment by enterprise in cloud object storage market.
Asia-Pacific region is the fastest growing player in the cloud object storage market owing to advanced technological development from countries such as China and India is boosting the market growth. Increasing urbanization, business expansion, industrial developments and growing educational sector is driving the growth of cloud Object Storage market in the region. Growing economies such as India, Japan, and China accounted for the largest market share due to growing IT network in this region. The region consists of many small and medium size enterprise that is contributing towards the growth of market from the region.
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
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