Cloud Object Storage Market
Cloud Object Storage Market Forecasts to 2030 - Global Analysis By Service Type (Professional Services and Managed Services), Enterprise Size (Small & Medium Enterprises and Large Enterprises), Deployment Mode (Public Cloud, Hybrid Cloud and Private Cloud), 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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o 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
1 Global Cloud Object Storage Market Outlook, By Region (2022-2030) ($MN)
2 Global Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
3 Global Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
4 Global Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
5 Global Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
6 Global Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
7 Global Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
8 Global Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
9 Global Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
10 Global Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
11 Global Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
12 Global Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
13 Global Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
14 Global Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
15 Global Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
16 Global Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
17 North America Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
18 North America Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
19 North America Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
20 North America Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
21 North America Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
22 North America Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
23 North America Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
24 North America Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
25 North America Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
26 North America Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
27 North America Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
28 North America Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
29 North America Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
30 North America Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
31 North America Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
32 North America Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
33 Europe Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
34 Europe Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
35 Europe Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
36 Europe Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
37 Europe Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
38 Europe Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
39 Europe Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
40 Europe Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
41 Europe Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
42 Europe Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
43 Europe Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
44 Europe Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
45 Europe Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
46 Europe Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
47 Europe Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
48 Europe Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
49 Asia Pacific Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
50 Asia Pacific Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
51 Asia Pacific Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
52 Asia Pacific Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
53 Asia Pacific Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
54 Asia Pacific Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
55 Asia Pacific Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
56 Asia Pacific Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
57 Asia Pacific Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
58 Asia Pacific Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
59 Asia Pacific Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
60 Asia Pacific Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
61 Asia Pacific Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
62 Asia Pacific Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
63 Asia Pacific Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
64 Asia Pacific Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
65 South America Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
66 South America Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
67 South America Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
68 South America Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
69 South America Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
70 South America Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
71 South America Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
72 South America Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
73 South America Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
74 South America Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
75 South America Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
76 South America Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
77 South America Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
78 South America Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
79 South America Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
80 South America Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
81 Middle East & Africa Cloud Object Storage Market Outlook, By Country (2022-2030) ($MN)
82 Middle East & Africa Cloud Object Storage Market Outlook, By Service Type (2022-2030) ($MN)
83 Middle East & Africa Cloud Object Storage Market Outlook, By Professional Services (2022-2030) ($MN)
84 Middle East & Africa Cloud Object Storage Market Outlook, By Managed Services (2022-2030) ($MN)
85 Middle East & Africa Cloud Object Storage Market Outlook, By Enterprise Size (2022-2030) ($MN)
86 Middle East & Africa Cloud Object Storage Market Outlook, By Small & Medium Enterprises (2022-2030) ($MN)
87 Middle East & Africa Cloud Object Storage Market Outlook, By Large Enterprises (2022-2030) ($MN)
88 Middle East & Africa Cloud Object Storage Market Outlook, By Deployment Mode (2022-2030) ($MN)
89 Middle East & Africa Cloud Object Storage Market Outlook, By Public Cloud (2022-2030) ($MN)
90 Middle East & Africa Cloud Object Storage Market Outlook, By Hybrid Cloud (2022-2030) ($MN)
91 Middle East & Africa Cloud Object Storage Market Outlook, By Private Cloud (2022-2030) ($MN)
92 Middle East & Africa Cloud Object Storage Market Outlook, By End User (2022-2030) ($MN)
93 Middle East & Africa Cloud Object Storage Market Outlook, By Banking, Financial Services and Insurance (2022-2030) ($MN)
94 Middle East & Africa Cloud Object Storage Market Outlook, By Healthcare (2022-2030) ($MN)
95 Middle East & Africa Cloud Object Storage Market Outlook, By Social Media Platforms (2022-2030) ($MN)
96 Middle East & Africa Cloud Object Storage Market Outlook, By Other End Users (2022-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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