PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1558347
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1558347
Cloud Object Storage Market Forecasts to 2030 - Global Analysis By Service Type, Enterprise Size, Deployment Mode, End User and By Geography
According to Stratistics MRC, the Global Cloud Object Storage Market is accounted for $7.9 billion in 2024 and is expected to reach $18.8 billion by 2030 growing at a CAGR of 15.6% during the forecast period. Cloud Object Storage is a scalable and flexible storage solution provided over the internet, designed to store vast amounts of unstructured data such as files, images, videos, and backups. Unlike traditional file systems, it organizes data into objects, each consisting of the data itself, metadata, and a unique identifier. Cloud Object Storage is typically offered by cloud service providers, which manage the infrastructure and maintenance, enabling users to focus on their data without worrying about hardware. Cloud Object Storage offers scalable, secure, and cost-effective solutions for managing vast amounts of unstructured data. It's ideal for storing backups, archival data, and big data analytics, providing easy access and high availability across distributed locations.
Market Dynamics:
Driver:
Increasing demand for data security
As the demand for data security escalates, Cloud Object Storage solutions are rapidly evolving to meet these needs. Cloud Object Storage offers scalable and durable data management, but with heightened security concerns, providers are integrating advanced features to protect sensitive information. Encryption at rest and in transit is now standard, ensuring that data is shielded from unauthorized access. Additionally, multi-factor authentication and fine-grained access controls are being implemented to enhance user verification and limit data exposure.
Restraint:
Latency and performance issues
Latency and performance issues in Cloud Object Storage can significantly impact data access and management efficiency. Latency, the delay between requesting and receiving data, often arises from the geographical distance between users and storage servers, network congestion, or inefficient data routing. High latency can slow down applications that require quick data retrieval, leading to poor user experiences. Performance issues, including slow data upload/download speeds and bottlenecks during peak times, can also occur due to the limitations in the storage infrastructure or inadequate scaling capabilities. These problems are exacerbated by factors such as high transaction volumes, large file sizes, or suboptimal storage configurations.
Opportunity:
Increased adoption of cloud services
As more businesses and individuals migrate to the cloud, the demand for scalable, flexible, and cost-effective storage solutions increases. This surge in usage pushes cloud providers to enhance their object storage offerings with features like advanced data redundancy, improved security protocols, and greater integration with other cloud services. Enhanced data management capabilities, such as automated tiering and analytics, allow for better optimization of storage costs and performance. Additionally, the widespread adoption fosters competitive advancements, leading to continuous improvements in speed, accessibility, and reliability.
Threat:
Data transfer and bandwidth limitations
Cloud Object Storage, while offering scalability and flexibility, faces significant challenges related to data transfer and bandwidth limitations. These constraints can hinder the efficiency of cloud storage systems, particularly when handling large volumes of data. High latency and limited bandwidth can slow down the process of uploading or retrieving data, leading to increased costs and reduced performance. For instance, transferring large files over a network with limited bandwidth can result in long wait times and interrupted data flows. Data transfer bottlenecks can impact applications that rely on real-time data access or require frequent synchronization between on-premises systems and the cloud.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted cloud object storage, accelerating its adoption and transformation. With a sudden surge in remote work, businesses and individuals alike required scalable, reliable, and accessible storage solutions to manage the unprecedented increase in digital data and collaboration needs. Cloud object storage, which provides scalable and cost-efficient data management, became essential for supporting remote operations, secure data backups, and seamless access to information from various locations. This shift also led to heightened focus on enhancing cloud infrastructure to handle increased traffic and ensure data security.
The Professional Services segment is expected to be the largest during the forecast period
Professional Services segment is expected to be the largest during the forecast period by integrating cutting-edge features and tailored solutions designed to meet diverse client needs. This enhancement focuses on optimizing performance, scalability, and security within cloud storage environments. By leveraging advanced data management tools and machine learning algorithms, the segment aims to provide more efficient data retrieval, improved backup and disaster recovery options, and robust compliance with industry standards. Additionally, the enhancements include seamless integration with existing IT infrastructures, offering greater flexibility and reducing operational complexities.
The Public Cloud segment is expected to have the highest CAGR during the forecast period
Public Cloud segment is expected to have the highest CAGR during the forecast period. Advances include improved data management features such as automated tiering, which optimizes storage costs by moving infrequently accessed data to lower-cost tiers, and more sophisticated data protection mechanisms like enhanced encryption and backup solutions to ensure data integrity and compliance. Providers are integrating advanced analytics and machine learning capabilities to enable better insights and management of stored data. These improvements not only streamline operations but also offer greater flexibility and responsiveness to the growing demands of businesses.
Region with largest share:
North America region commanded the largest market share during the extrapolated period. As businesses generate and collect vast amounts of data from various sources-such as IoT devices, social media, and transaction systems-the need for scalable, cost-effective storage solutions grows. Cloud Object Storage offers an efficient way to handle this influx of data due to its scalability, durability, and accessibility. It allows organizations to store large amounts of unstructured data, with the flexibility to easily scale up or down based on demand. Additionally, the ability to access data from anywhere and the integration with advanced analytics and machine learning tools are driving the regional adoption of Cloud Object Storage solutions.
Region with highest CAGR:
Europe region is estimated to witness profitable growth over the projected period by fostering a secure and compliant digital environment. The European Union's General Data Protection Regulation (GDPR) has set stringent data privacy and security standards, compelling cloud providers to implement robust measures for data protection and transparency. The Digital Services Act (DSA) and the Digital Markets Act (DMA) aim to create a fair and competitive digital marketplace by regulating online platforms and ensuring accountability. Additionally, these regulations not only protect consumer rights but also drive cloud providers to innovate and improve their services, leading to enhanced reliability and performance in cloud storage solutions.
Key players in the market
Some of the key players in Cloud Object Storage market include Amazon Web Services, Caringo Inc, Cisco Systems, Inc, Google LLC, Hewlett-Packard Enterprise, Hitachi Data Systems, International Business Machines Corporation, Microsoft Corporation, NetApp, Inc, Oracle Corporation and Wasabi Technologies.
Key Developments:
In January 2024, Amidata expanded offerings based on quantum. And they launched a new cloud storage service. Amidata has now deployed Active Scale object storage to build a secure, resilient set of cloud storage services accessible from across all of Australia.
In January 2024, Dell Technologies introduced Object Scale version 1.3, a ground-breaking software innovation that redefines the landscape of object storage. This latest release is offered as a fully integrated, turnkey solution, and takes the form of Object Scale XF960, an all-flash appliance that brings unprecedented speed, sustainability, and security to object storage architecture.
In May 2022, Snowflake and Dell Technologies announced a groundbreaking partnership, introducing an innovative collaboration that brings together Snowflake's cloud data technology and Dell's on-premise storage solutions. This strategic alliance aims to empower users with enhanced flexibility to operate seamlessly across multi-cloud environments, comply with data sovereignty regulations, and effortlessly convert data into valuable insights for informed decision-making.
Service Types Covered:
- Professional Services
- Managed Services
Enterprise Sizes Covered:
- Small & Medium Enterprises
- Large Enterprises
Deployment Modes Covered:
- Public Cloud
- Hybrid Cloud
- Private Cloud
End Users Covered:
- Banking, Financial Services and Insurance
- Healthcare
- Social Media Platforms
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Cloud Object Storage Market, By Service Type
- 5.1 Introduction
- 5.2 Professional Services
- 5.3 Managed Services
6 Global Cloud Object Storage Market, By Enterprise Size
- 6.1 Introduction
- 6.2 Small & Medium Enterprises
- 6.3 Large Enterprises
7 Global Cloud Object Storage Market, By Deployment Mode
- 7.1 Introduction
- 7.2 Public Cloud
- 7.3 Hybrid Cloud
- 7.4 Private Cloud
8 Global Cloud Object Storage Market, By End User
- 8.1 Introduction
- 8.2 Banking, Financial Services and Insurance
- 8.3 Healthcare
- 8.4 Social Media Platforms
- 8.5 Other End Users
9 Global Cloud Object Storage Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 Amazon Web Services
- 11.2 Caringo Inc
- 11.3 Cisco Systems, Inc
- 11.4 Google LLC
- 11.5 Hewlett-Packard Enterprise
- 11.6 Hitachi Data Systems
- 11.7 International Business Machines Corporation
- 11.8 Microsoft Corporation
- 11.9 NetApp, Inc
- 11.10 Oracle Corporation
- 11.11 Wasabi Technologies
List of Tables
- Table 1 Global Cloud Object Storage Market Outlook, By Region (2022-2030) ($MN)
- Table 2 Global Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 3 Global Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 4 Global Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 5 Global Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 6 Global Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 7 Global Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 8 Global Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 9 Global Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 10 Global Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 11 Global Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 12 Global Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 13 Global Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 14 Global Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 15 Global Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 16 Global Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 17 North America Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
- Table 18 North America Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 19 North America Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 20 North America Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 21 North America Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 22 North America Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 23 North America Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 24 North America Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 25 North America Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 26 North America Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 27 North America Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 28 North America Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 29 North America Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 30 North America Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 31 North America Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 32 North America Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 33 Europe Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
- Table 34 Europe Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 35 Europe Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 36 Europe Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 37 Europe Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 38 Europe Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 39 Europe Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 40 Europe Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 41 Europe Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 42 Europe Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 43 Europe Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 44 Europe Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 45 Europe Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 46 Europe Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 47 Europe Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 48 Europe Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 49 Asia Pacific Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
- Table 50 Asia Pacific Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 51 Asia Pacific Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 52 Asia Pacific Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 53 Asia Pacific Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 54 Asia Pacific Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 55 Asia Pacific Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 56 Asia Pacific Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 57 Asia Pacific Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 58 Asia Pacific Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 59 Asia Pacific Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 60 Asia Pacific Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 61 Asia Pacific Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 62 Asia Pacific Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 63 Asia Pacific Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 64 Asia Pacific Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 65 South America Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
- Table 66 South America Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 67 South America Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 68 South America Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 69 South America Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 70 South America Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 71 South America Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 72 South America Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 73 South America Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 74 South America Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 75 South America Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 76 South America Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 77 South America Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 78 South America Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 79 South America Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 80 South America Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
- Table 81 Middle East & Africa Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
- Table 82 Middle East & Africa Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
- Table 83 Middle East & Africa Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
- Table 84 Middle East & Africa Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
- Table 85 Middle East & Africa Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
- Table 86 Middle East & Africa Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
- Table 87 Middle East & Africa Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
- Table 88 Middle East & Africa Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
- Table 89 Middle East & Africa Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
- Table 90 Middle East & Africa Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
- Table 91 Middle East & Africa Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
- Table 92 Middle East & Africa Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
- Table 93 Middle East & Africa Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
- Table 94 Middle East & Africa Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
- Table 95 Middle East & Africa Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
- Table 96 Middle East & Africa Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
