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Global Forecast Cloud Storage Market

  • Date Submitted: 09/13/2016 01:09 AM
  • Flesch-Kincaid Score: 48.4 
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Bharatbook.com announces a report on “Cloud Storage Market by Solution, Service, Deployment Model, Organization Size, Vertical & Region - Global Forecast to 2021”. The increasing adoption of cloud-based solutions among the enterprises is driving the growth of primary storage solution. https://www.bharatbook.com/information-technology-market-research-reports-300149/cloud-storage-solution-service-vertical-region-global-forecast.html

Factors such as growing demand for hybrid cloud storage, increasing need for enterprise mobility, and the need for reduced infrastructure cost are driving the cloud storage market.

The Cloud Storage Market size is estimated to grow from USD 23.76 billion in 2016 to USD 74.94 billion by 2021, at a CAGR of 25.8% from 2016 to 2021. The cloud storage market is driven by factors such as increased adoption of cloud technology by Small and Medium Enterprises (SMEs) and the organizations’ inclination toward subscription-based storage and pay-per-use model.

Primary storage is expected to have the largest market share during the forecast period

Cost efficiency for enterprises is the major advantage of primary storage as it charges customers based on the storage space utilized. The increasing adoption of cloud-based solutions among the enterprises is driving the growth of primary storage solution.

North America to have the largest share of the market; Asia-Pacific (APAC) to grow at the highest CAGR

North America is expected to hold the largest market share in 2016, while APAC is the fastest-growing region in terms of CAGR. Cloud storage helps avoid security issues and IT glitches and is therefore, growing rapidly in APAC. Cloud emergence and mandatory government regulations are simultaneously helping in boosting the growth of the cloud storage market in the region.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews...

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