Cloud Storage Market Share

Cloud Storage Market Share, Market Size and Industry Growth Drivers, 2017 - 2022

About Cloud Storage

Cloud Storage is a form of cloud services where clients get to keep their data on a server belonging to a cloud vendor. The vendor is responsible for preserving and securing the data, which the client can access on demand over the Internet. By using this model, businesses can significantly reduce spending on purchasing, managing, and maintaining an expensive data storage infrastructure. Since the service is available over the Internet, clients can access their data from anywhere in the world, providing agility, global scale, and durability. The other advantages include strong data back-up protection, data archiving for disaster recovery purposes, and rapid deployment. You can find Cloud Storage Market Size, Cloud Storage Market Share, and other trends and statistics below.

Cloud Storage Market Size, 2017 - 2022

Cloud Storage Market

The chart shows the Cloud Storage Market Size from 2017 to 2022. In 2019, the size of the Cloud Storage Industry was $47.8B and is projected to grow by 24% in 2020. From 2017 to 2022 the Cloud Storage Industry growth is projected to average 24% per year.

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Cloud Storage Market Share by Region, 2017
Cloud Storage Market Share

The chart shows the Cloud Storage Market Share in 2017. The leading region in the Cloud Storage Industry was North America with a 42.0% market share in 2017, followed by Europe with 28.0% market share, Asia-Pacific with 25.0%, and the rest of the world with 5.0%. View the source for this Cloud Storage Market Share chart and other Cloud Storage Market Share estimates here.

Cloud Storage Market Growth Drivers

The Cloud Storage Market is expected to see continued strong growth in the forthcoming years. The growth is primarily driven by an increasing digitization of businesses and exponential increase in data. Organizations are employing mobile technologies, the Internet of Things (IoT), Artificial Intelligence (AI), Big Data and Machine Learning. This leads to large amounts of data being generated that need to be stored in servers with low-cost and high accessibility. Cloud Storage is rising as a cost-effective and flexible alternative to purchasing and managing a data storage infrastructure on-premises. Due to this, the demand in the Cloud Storage Market is likely to surge considerably in the forthcoming years.

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Do Research Firms Agree on Cloud Storage Market Share, Size, and Growth?

Market research sources disagree intensely on the Cloud Storage Market Size, moderately disagree on the Cloud Storage Market Share, and generally agree on the fast Cloud Storage Growth. The cause of disagreement is due to the lack of a standardized definition of the Cloud Storage Industry and what types of products should be included. Therefore different sources may have very different perspectives of Cloud Storage market share and Cloud Storage industry size. For a complete evaluation of the Cloud Storage market, T4 recommends exploring all available sources. T4 aggregated and organized the data from these sources on the T4 Industry Research Platform. See Each source's view of the Cloud Storage Market, Cloud Storage Market Size, and Cloud Storage Market Share on the T4 Platform.

What Additional Cloud Storage Industry Data Does T4 Have?

T4 comprehensively aggregated more than 30 reports from more than 10 publishers covering statistics and trends in the Industry. This includes Cloud Storage Revenue by Region, Application, Service, and Technology, and more than 10 additional statistics. The Industry falls under T4's Storage industry coverage. Industries related to the T4 taxonomy include Storage Area Network, Storage Software, Data Backup, Software-Defined Storage, Storage Infrastructure Software, Storage Reduction Software, and Storage Systems among others. Related subcategories of the Industry include Hybrid Cloud Storage, Private Cloud Storage, and Public Cloud Storage. You can find reports covering these industries on T4’s Platform.

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