Cloud Computing & Storage Market by Component, Type, Workload, Organization Size, Deployment Model, Vertical

Description

List of Tables

[193 Pages Report] The Cloud Computing & Storage Market size was estimated at USD 821.30 billion in 2023 and expected to reach USD 929.14 billion in 2024, at a CAGR 13.32% to reach USD 1,971.18 billion by 2030.

Cloud computing & storage refer to the delivery of computer services, including software, storage, processing power, and other resources, over the Internet. This innovative technology enables users to access these resources on demand without investing in physical infrastructure or maintaining it at their premises. Rapid advancements in technology have fueled market growth by enabling innovative applications such as big data analytics, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and edge computing that rely heavily on powerful cloud-based infrastructures. Companies are shifting toward a remote work culture due to recent global events such as COVID-19, accelerating the demand for reliable collaboration tools and virtual workspace solutions provided through SaaS platforms. However, data privacy concerns and downtime risks associated with cloud computing & storage impact their utilization. Market players are working on developing technologies that enable secure cross-border transfer of data while complying with regional laws and regulations. In addition, market players are building hybrid clouds and multi-clouds where organizations can leverage public and private clouds to optimize costs while maintaining control over sensitive data, opening opportunities for cloud service providers to offer tailored solutions.

KEY MARKET STATISTICS
Base Year [2023]	USD 821.30 billion
Estimated Year [2024]	USD 929.14 billion
Forecast Year [2030]	USD 1,971.18 billion
CAGR (%)	13.32%

Regional Insights

The Americas, particularly North America, have an advanced landscape in utilizing cloud computing services, driven by their shift to remote work capabilities and robust data management solutions. The region houses several major global players in the industry, which has significantly contributed to widespread adoption, and are investing heavily in expanding their local data centers to support the growing demand for cloud services. Asia is experiencing exponential growth in cloud computing usage as emerging economies seek scalable IT solutions to support their expanding businesses. China, Japan, and India play a significant role as they invest heavily in their domestic technology industry, build a strong focus on technology and innovation, and include initiatives expanding cloud computing usage. The APAC region is witnessing significant cloud computing adoption owing to the rapid digital transformation, increasing internet penetration, and a growing number of small and medium-sized enterprises (SMEs) leveraging technology-based services. Economic integration within the European Union has facilitated consistent growth in the demand for cloud computing services across the region. Europe has launched GAIA-X - a joint initiative aimed at establishing a federated European cloud infrastructure that adheres to EU values concerning data privacy and digital autonomy. The presence of major IT companies provides the potential for organizations in the EMEA to adopt cloud computing solutions seamlessly.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cloud Computing & Storage Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising shift to remote work and the need for seamless collaboration tools
- Government initiatives supporting cloud computing technologies and services
- Increasing use of IoT and big data and high volume of data generated

Market Restraints
- Technical complexities caused by downtime and issues of vendor lock-in period

Market Opportunities
- Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
- New investments in large-scale cloud computing data centers worldwide

Market Challenges
- Concerns associated with data security and privacy breach

Market Segmentation Analysis
- Component: Rising adoption of cloud computing & storage solutions to ensure reliable IT operations
- Type: High preference for file storage cloud to manage the increasing amount of data generated
- Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data
- Deployment Model: Extensive shift to private cloud by industries to improve cloud computing reliability and safety
- Vertical: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability
- Workload: Extensive popularity of hypervisor & edge computing across end-user industries

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cloud Computing & Storage Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cloud Computing & Storage Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Google Launches Three New Cloud Storage Options: Cloud Storage FUSE, Parallelstore, NetApp Volumes

Google introduced three new cloud storage solutions in the field of cloud computing & storage, including Cloud Storage FUSE, Parallelstore, and NetApp Volumes, specifically designed for artificial intelligence applications. These additions to Google's cloud storage offerings demonstrate the company's commitment to providing diverse and advanced storage solutions for various industries and use cases. [Published On: 2023-08-29]

NetApp and Google Cloud Introduce Managed Storage Service to Revolutionize Enterprise Workloads in the Cloud

NetApp extended its partnership with Google Cloud, offering customers storage performance and flexibility in both Windows and Linux environments. With the fully managed, first-party service of Google Cloud NetApp Volumes, customers can now utilize this solution for workloads like VMware and SAP migrations without the need for code refactoring or process redesign. This collaboration empowers customers by providing easy access to ONTAP storage and data management capabilities, ensuring the availability of enterprise-grade storage for critical workloads, and enabling seamless integration with increased efficiency for businesses seeking reliable and scalable solutions for their data storage needs. [Published On: 2023-08-24]

Digiboxx Launches New Cloud Storage Solution for Enterprises, Individuals

DigiBoxx, India's SaaS-based digital storage and sharing platform, launched Megh3, a homegrown solution for digital backup. Megh3 is fully compatible with S3 storage and offers customers fast, simple, and flexible storage solutions at an affordable price point. This Indian-made solution emphasizes the importance of data security and accessibility, providing users with a reliable and efficient storage option for their digital content. [Published On: 2023-07-21]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cloud Computing & Storage Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cloud Computing & Storage Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Adobe Inc., Akamai Technologies, Inc., Alibaba Group Holding Limited, Amazon Web Services, Inc., Box, Inc., Capgemini Services SAS, Cisco Systems, Inc., Cloud Software Group, Inc., Cloudera, Inc., Cognizant Technology Solutions Corporation, Dell Inc., DigitalOcean Holdings, Inc., Dropbox, Inc., Epicor Software Corporation, Fujitsu Limited, Google Inc. by Alphabet Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Lumen Technologies, Microsoft Corporation, NetApp, Inc., Nutanix Group, OpenText Corporation, Oracle Corporation, Rackspace Technology's, Salesforce, Inc., SAP SE, ServiceNow, Inc., Snowflake Inc., Tencent Cloud, VMware by Broadcom Inc., and Zoho Corporation.

Market Segmentation & Coverage

This research report categorizes the Cloud Computing & Storage Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Services
  - Integration & Migration
  - Managed Services
  - Support & Maintenance
  - Training & Consulting

Solution
- Cloud Storage Gateway
- Collaboration & Productivity Suites
- Customer Relationship Management
- Data Archiving
- Disaster Recovery Backup
- Human Capital Management
- Primary Storage
- Supply Chain Management

Type
- Block Storage
- File Storage
- Object Storage

Workload
- Application Development & Testing
- Business Analytics
- Collaboration & Content Management
- Database Management
- Enterprise Resource Management
- Hypervisor & Edge computing
- Integration & Orchestration
- Storage, Backup & Disaster Recovery

Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises

Deployment Model
- Private Cloud
- Public Cloud

Vertical
- Banking, Financial Services, & Insurance
- Consumer Goods & Retail
- Education
- Energy & Utilities
- Government & Public Sector
- Healthcare & Life Sciences
- Manufacturing
- Media & Entertainment
- Telecommunications & IT

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4358917D64BE

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising shift to remote work and the need for seamless collaboration tools
  - 5.1.1.2. Government initiatives supporting cloud computing technologies and services
  - 5.1.1.3. Increasing use of IoT and big data and high volume of data generated
- 5.1.2. Restraints
  - 5.1.2.1. Technical complexities caused by downtime and issues of vendor lock-in period
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
  - 5.1.3.2. New investments in large-scale cloud computing data centers worldwide
- 5.1.4. Challenges
  - 5.1.4.1. Concerns associated with data security and privacy breach
5.2. Market Segmentation Analysis
- 5.2.1. Component: Rising adoption of cloud computing & storage solutions to ensure reliable IT operations
- 5.2.2. Type: High preference for file storage cloud to manage the increasing amount of data generated
- 5.2.3. Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data
- 5.2.4. Deployment Model: Extensive shift to private cloud by industries to improve cloud computing reliability and safety
- 5.2.5. Vertical: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability
- 5.2.6. Workload: Extensive popularity of hypervisor & edge computing across end-user industries
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Cloud Computing & Storage Market, by Component

6.1. Introduction
6.2. Services
6.3. Solution

7. Cloud Computing & Storage Market, by Type

7.1. Introduction
7.2. Block Storage
7.3. File Storage
7.4. Object Storage

8. Cloud Computing & Storage Market, by Workload

8.1. Introduction
8.2. Application Development & Testing
8.3. Business Analytics
8.4. Collaboration & Content Management
8.5. Database Management
8.6. Enterprise Resource Management
8.7. Hypervisor & Edge computing
8.8. Integration & Orchestration
8.9. Storage, Backup & Disaster Recovery

9. Cloud Computing & Storage Market, by Organization Size

9.1. Introduction
9.2. Large Enterprises
9.3. Small & Medium-Sized Enterprises

10. Cloud Computing & Storage Market, by Deployment Model

10.1. Introduction
10.2. Private Cloud
10.3. Public Cloud

11. Cloud Computing & Storage Market, by Vertical

11.1. Introduction
11.2. Banking, Financial Services, & Insurance
11.3. Consumer Goods & Retail
11.4. Education
11.5. Energy & Utilities
11.6. Government & Public Sector
11.7. Healthcare & Life Sciences
11.8. Manufacturing
11.9. Media & Entertainment
11.10. Telecommunications & IT

12. Americas Cloud Computing & Storage Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Cloud Computing & Storage Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Cloud Computing & Storage Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
- 15.3.1. Google Launches Three New Cloud Storage Options: Cloud Storage FUSE, Parallelstore, NetApp Volumes
- 15.3.2. NetApp and Google Cloud Introduce Managed Storage Service to Revolutionize Enterprise Workloads in the Cloud
- 15.3.3. Digiboxx Launches New Cloud Storage Solution for Enterprises, Individuals
15.4. Strategy Analysis & Recommendation

16. Competitive Portfolio

16.1. Key Company Profiles
16.2. Key Product Portfolio