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

Description

List of Tables

The Cloud Computing & Storage Market was valued at USD 821.30 billion in 2023, expected to reach USD 929.14 billion in 2024, and is projected to grow at a CAGR of 13.32%, to USD 1,971.18 billion by 2030.

Cloud computing and storage represent essential frameworks that enable on-demand access to computing resources and data storage over the internet, dramatically transforming business landscapes globally. The necessity for these technologies springs from the need for scalable, efficient, and flexible IT solutions that reduce operational costs, enhance data management, and improve collaboration across dispersed teams. Applications of cloud computing and storage span various sectors such as information technology, healthcare, finance, retail, and education, while end-users range from multinational corporations to small and medium enterprises and individual consumers. Key growth influencers include increased adoption of big data analytics, artificial intelligence, and the Internet of Things (IoT), all of which require robust cloud frameworks to process and store vast amounts of data efficiently.

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%

In terms of market insights, projected growth is driven by the escalating shift towards digital transformation and the increasing reliance on distributed workforce models, especially post-pandemic. There are burgeoning opportunities in sectors like healthcare and finance, where demand for secure, efficient data storage and retrieval solutions is high due to regulatory pressures and increased emphasis on data security. Nevertheless, challenges persist in terms of data breaches, privacy concerns, regulatory compliance, and the complexity of transitioning legacy systems to the cloud. Limitations also arise from concerns over data sovereignty and latency issues in data retrieval, which can hinder market growth.

For innovation and research, focusing on enhancing data security, reducing latency with edge computing solutions, and developing more sophisticated AI-driven cloud management tools can drive significant advancements and market penetration. Embracing multi-cloud strategies to improve reliability and avoiding vendor lock-in also presents an area ripe for exploration. The cloud computing market is dynamic, driven by technological advancements and an expanding user base seeking agile and robust cloud solutions. Companies that act swiftly to address security concerns and optimize cloud efficiency will likely capture a significant share of the growth opportunities on the horizon.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Cloud Computing & Storage Market

The Cloud Computing & Storage Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

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

Porter's Five Forces: A Strategic Tool for Navigating the Cloud Computing & Storage Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Cloud Computing & Storage Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Cloud Computing & Storage Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Cloud Computing & Storage Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Cloud Computing & Storage Market

A detailed market share analysis in the Cloud Computing & Storage Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Cloud Computing & Storage Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Cloud Computing & Storage Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Cloud Computing & Storage Market

A strategic analysis of the Cloud Computing & Storage Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

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:

Based on Component, market is studied across Services and Solution. The Services is further studied across Integration & Migration, Managed Services, Support & Maintenance, and Training & Consulting. The Solution is further studied across Cloud Storage Gateway, Collaboration & Productivity Suites, Customer Relationship Management, Data Archiving, Disaster Recovery Backup, Human Capital Management, Primary Storage, and Supply Chain Management.
Based on Type, market is studied across Block Storage, File Storage, and Object Storage.
Based on Workload, market is studied across Application Development & Testing, Business Analytics, Collaboration & Content Management, Database Management, Enterprise Resource Management, Hypervisor & Edge computing, Integration & Orchestration, and Storage, Backup & Disaster Recovery.
Based on Organization Size, market is studied across Large Enterprises and Small & Medium-Sized Enterprises.
Based on Deployment Model, market is studied across Private Cloud and Public Cloud.
Based on Vertical, market is studied across Banking, Financial Services, & Insurance, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, and Telecommunications & IT.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

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. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Cloud Computing & Storage Market, by Component

6.1. Introduction
6.2. Services
- 6.2.1. Integration & Migration
- 6.2.2. Managed Services
- 6.2.3. Support & Maintenance
- 6.2.4. Training & Consulting
6.3. Solution
- 6.3.1. Cloud Storage Gateway
- 6.3.2. Collaboration & Productivity Suites
- 6.3.3. Customer Relationship Management
- 6.3.4. Data Archiving
- 6.3.5. Disaster Recovery Backup
- 6.3.6. Human Capital Management
- 6.3.7. Primary Storage
- 6.3.8. Supply Chain Management

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

Companies Mentioned

1. Accenture PLC
2. Adobe Inc.
3. Akamai Technologies, Inc.
4. Alibaba Group Holding Limited
5. Amazon Web Services, Inc.
6. Box, Inc.
7. Capgemini Services SAS
8. Cisco Systems, Inc.
9. Cloud Software Group, Inc.
10. Cloudera, Inc.
11. Cognizant Technology Solutions Corporation
12. Dell Inc.
13. DigitalOcean Holdings, Inc.
14. Dropbox, Inc.
15. Epicor Software Corporation
16. Fujitsu Limited
17. Google Inc. by Alphabet Inc.
18. Hewlett Packard Enterprise Development LP
19. International Business Machines Corporation
20. Lumen Technologies
21. Microsoft Corporation
22. NetApp, Inc.
23. Nutanix Group
24. OpenText Corporation
25. Oracle Corporation
26. Rackspace Technology's
27. Salesforce, Inc.
28. SAP SE
29. ServiceNow, Inc.
30. Snowflake Inc.
31. Tencent Cloud
32. VMware by Broadcom Inc.
33. Zoho Corporation