Cloud Storage Market

AWS (US) and IBM (US) are the Major Players in the Cloud Storage Market

The cloud storage market is expected to grow from USD 30.70 Billion in 2017 to USD 88.91 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.7% during the forecast period. The market drivers are existing market offerings and increasing focus on pricing and promotions.

The major players in the cloud storage market are AWS (US), IBM (US), Microsoft (US), Google (US), Oracle (US), HPE (US), Dell EMC (US), VMware (US), Rackspace (US), and Dropbox (US). These players have adopted various growth strategies, such as expansions, acquisitions, partnerships, joint ventures and collaborations, and new product launches. Partnerships and new product launches are the 2 major strategies often adopted by these players to gain a strong foothold in the cloud storage market.

AWS offers robust cloud storage solutions and services to enterprises for cloud deployment to optimize the migration, and streamline data collection through advanced technology. In the recent years, the company has been focusing more on adopting different business strategies to offer innovative services to customers, in turn enhancing their experience. In June 2016, AWS launched Amazon EFS, a managed service that enables customers to set up and scale file storage in the AWS Cloud. Amazon EFS is based on the pay-as-you-go model, providing customers a cost-efficient way to create file systems that are accessible to multiple Amazon Elastic Compute Cloud (EC2) instances via the Network File System (NFS) protocol.  

IBM offers robust and innovative cloud storage solutions with enhanced flexibility, simplicity, and scalability. It includes object storage, block storage, file storage, mass storage servers, and content delivery networks. Thus, it becomes evident that in the recent years, the company has undertaken various new product launches to expand the service offerings and customer base, as well as, provides innovative offerings to customers. In October 2017, IBM announced compliance-enabled vaults and concentrated dispersal mode capabilities. These new capabilities enable customers to easily access and deploy entry-level cloud object storage systems along with the ability to scale to larger configurations. Moreover, in March 2017, IBM announced the availability of a new pricing model to its IBM Cloud Object Storage offering. This new pricing model, known as cold storage, offers advanced benefits of reduced data recovery time and reduced costs. The company offers customers with new options for archiving data as well.

The cloud storage market research report analyzes the global adoption trends, growth potentials, key drivers, vendor portfolio analysis, restraints, and opportunities in the market

Related Reports:

Cloud Storage Market by Type (Solutions and Services), Deployment Model (Public Cloud, Private Cloud, Hybrid Cloud), Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), Vertical, and Region - Global Forecast to 2022

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Report Code
TC 2410
Published ON
Feb, 2018
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