Cloud Storage Market Size to Grow at a CAGR of 17.4% in the Forecast Period of 2022-2029

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Cloud Storage Market was valued at US$ 78.59 Bn. in 2022 and the total Cloud Storage revenue is expected to grow at 17.4% from 2023 to 2029, reaching nearly US$ 241.59 Bn.

The global Cloud Storage market reached a valuation of US$ 78.59 Bn. in 2022 and is poised to attain US$ 241.59 Bn. by 2029, manifesting a compound annual growth rate (CAGR) of 17.4% throughout the forecast period.

Market Overview:

This study presents a comprehensive analysis of the Cloud Storage market encompassing components, applications, industries, and geographical regions. Delving into intricate details, the research elucidates the primary drivers steering the growth of the Cloud Storage market and provides an exhaustive examination of its value chain.

Market Scope:

The research methodology employed for assessing and projecting the Cloud Storage market commences with secondary research utilizing sources that compile revenue data from pivotal suppliers. Vendor offerings are also factored in while delineating market segmentation. Employing the bottom-up approach, the overall size of the Cloud Storage market was deduced leveraging the revenues of significant enterprises.


The Cloud Storage market report comprehensively covers major restraints and drivers influencing market dynamics.

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by Component

• Solutions
• Services

by Application

• Primary Storage
• Backup and Disaster Recovery
• Archiving

by Deployment Type

• Public
• Private
• Hybrid

by Vertical

• IT and ITeS
• Telecommunications
• Healthcare and Life Sciences
• Media and Entertainment
• Consumer Goods and Retail
• Manufacturing
• Government and Public Sector
• Energy and Utilities
• Others

Key Players:

The Cloud Storage market report features major players including:

• Amazon Web Services, Inc (US)
• Google (US)
• Microsoft (US)
• IBM (US)
• Wasabi (US)
• Oracle (US)
• Rackspace Technology (US)
• Hewlett Packard Enterprise (US)
• Dell Technologies (US)
• Dropbox (US)
• VMware (US)
• NetApp (US)
• Hitachi Vantara (US)
• Scality (US)
• Citrix (US)
• DigitalOcean (US)
• Zadara (US)
• Cisco Systems, Inc. (US)
• Data direct Networks (US)
• MongoDB, Inc. (US)
• Alibaba Cloud (China)
• Tencent Cloud (china)
• Huawei (China)
• Fujitsu (Japan)
• UpCloud Ltd (Finland)
• pCloud (Switzerland)
• Degoo (Sweden)
• Rohde & Schwarz (Germany)
• Mecalux, S.A. (Spain)

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Regional Analysis:

Market share statistics for Global, North America, Europe, Asia-Pacific, the Middle East and Africa, and South America are individually accessible. Analysts at Maximize conduct competitive analysis for each competitor, evaluating competitive strengths comprehensively.

COVID-19 Impact Analysis on Cloud Storage Market:

The COVID-19 pandemic has impacted various industries including aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance. This crisis has also affected the Cloud Storage market, influencing growth rates from 2019 to 2020. Our latest insights and analyses on mitigation strategies are crucial for industries and organizations navigating through the COVID-19 crisis, enabling them to digitize operations to deliver reliable data and insights to CEOs.

Key Questions Answered in the Cloud Storage Market Report:

  • Which segment dominated the Cloud Storage market share?
  • How was the competitive landscape of the Cloud Storage market in 2020?
  • What are the key factors fueling the growth of the Cloud Storage market?
  • Which region held the largest share in the Cloud Storage market in 2020?

About Maximize Market Research:

Maximize Market Research is a versatile market research and consulting firm comprising professionals from diverse industries. Our coverage spans medical devices, pharmaceuticals, science and engineering, electronic components, industrial equipment, technology and communication, automotive, chemicals, general merchandise, beverages, personal care, and automation systems. We deliver industry-validated market estimations, technical trend analyses, critical market research, strategic guidance, competition analyses, production and demand assessments, and client impact studies.

Contact Maximize Market Research:

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