[189 Pages Report] The Cloud Computing & Storage Market size was estimated at USD 821.30 billion in 2023 and expected to reach USD 929.14 billion in 2024, at a CAGR 13.32% to reach USD 1,971.18 billion by 2030.

Cloud computing & storage refer to the delivery of computer services, including software, storage, processing power, and other resources, over the Internet. This innovative technology enables users to access these resources on demand without investing in physical infrastructure or maintaining it at their premises. Rapid advancements in technology have fueled market growth by enabling innovative applications such as big data analytics, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), and edge computing that rely heavily on powerful cloud-based infrastructures. Companies are shifting toward a remote work culture due to recent global events such as COVID-19, accelerating the demand for reliable collaboration tools and virtual workspace solutions provided through SaaS platforms. However, data privacy concerns and downtime risks associated with cloud computing & storage impact their utilization. Market players are working on developing technologies that enable secure cross-border transfer of data while complying with regional laws and regulations. In addition, market players are building hybrid clouds and multi-clouds where organizations can leverage public and private clouds to optimize costs while maintaining control over sensitive data, opening opportunities for cloud service providers to offer tailored solutions.

The Americas, particularly North America, have an advanced landscape in utilizing cloud computing services, driven by their shift to remote work capabilities and robust data management solutions. The region houses several major global players in the industry, which has significantly contributed to widespread adoption, and are investing heavily in expanding their local data centers to support the growing demand for cloud services. Asia is experiencing exponential growth in cloud computing usage as emerging economies seek scalable IT solutions to support their expanding businesses. China, Japan, and India play a significant role as they invest heavily in their domestic technology industry, build a strong focus on technology and innovation, and include initiatives expanding cloud computing usage. The APAC region is witnessing significant cloud computing adoption owing to the rapid digital transformation, increasing internet penetration, and a growing number of small and medium-sized enterprises (SMEs) leveraging technology-based services. Economic integration within the European Union has facilitated consistent growth in the demand for cloud computing services across the region. Europe has launched GAIA-X – a joint initiative aimed at establishing a federated European cloud infrastructure that adheres to EU values concerning data privacy and digital autonomy. The presence of major IT companies provides the potential for organizations in the EMEA to adopt cloud computing solutions seamlessly.

The market dynamics represent an ever-changing landscape of the Cloud Computing & Storage Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Rising shift to remote work and the need for seamless collaboration tools
  • Government initiatives supporting cloud computing technologies and services
  • Increasing use of IoT and big data and high volume of data generated
• Market Restraints
  • Technical complexities caused by downtime and issues of vendor lock-in period
• Market Opportunities
  • Introduction of advanced hybrid, edge, and multi-cloud strategies in IT environments
  • New investments in large-scale cloud computing data centers worldwide
• Market Challenges
  • Concerns associated with data security and privacy breach

• Component: Rising adoption of cloud computing & storage solutions to ensure reliable IT operations

  In the cloud computing & storage market, service providers offer a wide range of solutions to cater to the diverse needs of businesses. Integration and migration services are provided by expert professionals closely working with organizations to assess, plan, and execute the seamless transfer of data, applications, and processes from on-premises servers or other cloud providers to the chosen cloud environment. Managed services in cloud computing involve outsourcing various aspects of an organization's IT infrastructure to a third-party service provider specializing in managing these responsibilities. Support and maintenance is a crucial aspect of any cloud computing offering that ensures business continuity by addressing issues promptly and efficiently. The cloud computing & storage solutions segment primarily comprises products tailored to specific business needs, such as data storage management, disaster recovery services (DRS), content delivery networks (CDNs), and edge computing. Cloud-based data storage solutions enable businesses to store massive amounts of data securely and cost-effectively. DRS helps organizations recover critical IT systems and data after a disaster. CDNs accelerate the delivery of internet content by caching copies of it on strategically placed servers.

• Type: High preference for file storage cloud to manage the increasing amount of data generated

  Block storage is commonly used for applications that require high-performance, low-latency access to stored data. It is ideal for databases and virtualized environments, such as virtual machines (VMs) running on cloud infrastructure. File storage is useful for applications requiring shared access to files across multiple devices or users while preserving file metadata such as permissions and timestamps. Object storage is designed for storing unstructured data in the form of objects, each containing metadata and unique identifiers. This solution allows for easy scaling to accommodate large volumes of data with high durability and availability.

• Organization Size: Emerging use of cloud computing by small & medium enterprises worldwide to ensure secure storage of data

  Large enterprises generally require robust infrastructure, extensive customization options, high availability, and stringent security measures to manage vast data. These organizations have international operations with multiple interconnected data centers, which require advanced large-scale cloud computing. SMEs typically have limited budgets compared to larger corporations but require reliable cloud computing services that ensure cost-effective scalability without sacrificing performance or security. Additionally, SMEs are more focused on cost-effectiveness and ease of implementation as they have limited IT resources and budgets.

• Deployment Model: Extensive shift to private cloud by industries to improve cloud computing reliability and safety

  A private cloud is a cloud computing environment exclusively dedicated to a single organization that offers greater control, security, and customization. This deployment model is ideal for businesses with strict data security requirements or the need for specific application customization. The public cloud is a shared cloud computing environment provided by third-party service providers. It offers virtually unlimited scalability at a lower total cost of ownership due to its pay-as-you-go pricing model. Therefore, organizations can deploy applications, store data, and access computing resources on-demand without managing their infrastructure.

• Vertical: Shift of the healthcare and BFSI industry to cloud computing due to its high scalability

  Cloud computing & storage solutions are gaining traction in the BFSI and government sectors owing to their ability to improve operational efficiencies, reduce costs, and enhance security. The consumer goods and retail and manufacturing industries require robust cloud-based solutions for supply chain management, inventory tracking, demand forecasting, and customer engagement. Educational institutions are increasingly adopting cloud computing for e-learning platforms, content management systems (CMS), student information systems (SIS), and research purposes. Energy companies rely on cloud-based solutions for managing complex infrastructure networks spanning across power generation facilities to end-user distribution points. Healthcare organizations require cloud solutions that adhere to strict regulatory standards, such as The Health Insurance Portability and Accountability Act (HIPAA) in the U.S. or the General Data Protection Regulation (GDPR) in Europe. The media industry relies heavily on cloud-based platforms for content creation, distribution, and management due to their scalability and cost-effectiveness compared to traditional systems.

• Workload: Extensive popularity of hypervisor & edge computing across end-user industries

  Cloud computing and storage have drastically transformed application development and testing by offering improved scalability and cost-effectiveness. The demand for cloud-based business analytics tools has soared due to the exponential growth of big data. Collaboration and content management services have experienced a surge in the adoption of new and enhanced features that facilitate efficient remote work. Businesses are increasingly turning to cloud-based enterprise resource planning (ERP) systems such as SAP S/4HANA, Oracle ERP Cloud, and Microsoft Dynamics 365. These systems offer streamlined business processes and cost-effectiveness. Integration and orchestration services play a crucial role in connecting cloud services with on-premises systems, ensuring seamless operations and data flow. Additionally, storage, backup, and disaster recovery providers offer scalable solutions that seamlessly integrate with existing IT infrastructure. The cloud computing and storage landscape has revolutionized application development and testing by providing scalability, cost-effectiveness, and enhanced business analytics capabilities. The adoption of collaboration tools, cloud-based ERP systems, integration services, and scalable storage solutions has become increasingly prevalent, driving businesses toward greater efficiency and success.

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Cloud Computing & Storage Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Cloud Computing & Storage Market.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Cloud Computing & Storage Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The value chain of the Cloud Computing & Storage Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

The pricing analysis comprehensively evaluates how a product or service is priced within the Cloud Computing & Storage Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Cloud Computing & Storage Market.

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Cloud Computing & Storage Market.

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Cloud Computing & Storage Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

The trade analysis of the Cloud Computing & Storage Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

The regulatory framework analysis for the Cloud Computing & Storage Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cloud Computing & Storage Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cloud Computing & Storage Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

• Google Launches Three New Cloud Storage Options: Cloud Storage FUSE, Parallelstore, NetApp Volumes

  Google introduced three new cloud storage solutions in the field of cloud computing & storage, including Cloud Storage FUSE, Parallelstore, and NetApp Volumes, specifically designed for artificial intelligence applications. These additions to Google's cloud storage offerings demonstrate the company's commitment to providing diverse and advanced storage solutions for various industries and use cases. [Published On: 2023-08-29]

• NetApp and Google Cloud Introduce Managed Storage Service to Revolutionize Enterprise Workloads in the Cloud

  NetApp extended its partnership with Google Cloud, offering customers storage performance and flexibility in both Windows and Linux environments. With the fully managed, first-party service of Google Cloud NetApp Volumes, customers can now utilize this solution for workloads like VMware and SAP migrations without the need for code refactoring or process redesign. This collaboration empowers customers by providing easy access to ONTAP storage and data management capabilities, ensuring the availability of enterprise-grade storage for critical workloads, and enabling seamless integration with increased efficiency for businesses seeking reliable and scalable solutions for their data storage needs. [Published On: 2023-08-24]

• Digiboxx Launches New Cloud Storage Solution for Enterprises, Individuals

  DigiBoxx, India's SaaS-based digital storage and sharing platform, launched Megh3, a homegrown solution for digital backup. Megh3 is fully compatible with S3 storage and offers customers fast, simple, and flexible storage solutions at an affordable price point. This Indian-made solution emphasizes the importance of data security and accessibility, providing users with a reliable and efficient storage option for their digital content. [Published On: 2023-07-21]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cloud Computing & Storage Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Cloud Computing & Storage Market, highlighting leading vendors and their innovative profiles. These include Amazon Web Services, Inc., Fujitsu Limited, Capgemini Services SAS, Box, Inc., DigitalOcean Holdings, Inc., Epicor Software Corporation, International Business Machines Corporation, Accenture PLC, Cloudera, Inc., Rackspace Technology’s, Salesforce, Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, NetApp, Inc., Microsoft Corporation, Zoho Corporation, Dell Inc., VMware by Broadcom Inc., Cognizant Technology Solutions Corporation, Cloud Software Group, Inc., Nutanix Group, Tencent Cloud, SAP SE, Dropbox, Inc., Snowflake Inc., OpenText Corporation, Google Inc. by Alphabet Inc., Akamai Technologies, Inc., Alibaba Group Holding Limited, Adobe Inc., Oracle Corporation, Lumen Technologies, and ServiceNow, Inc..

This research report categorizes the Cloud Computing & Storage Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Component
  • Services
    • Integration & Migration
    • Managed Services
    • Support & Maintenance
    • Training & Consulting
  • Solution
    • Cloud Storage Gateway
    • Collaboration & Productivity Suites
    • Customer Relationship Management
    • Data Archiving
    • Disaster Recovery Backup
    • Human Capital Management
    • Primary Storage
    • Supply Chain Management
• Type
  • Block Storage
  • File Storage
  • Object Storage
• Workload
  • Application Development & Testing
  • Business Analytics
  • Collaboration & Content Management
  • Database Management
  • Enterprise Resource Management
  • Hypervisor & Edge computing
  • Integration & Orchestration
  • Storage, Backup & Disaster Recovery
• Organization Size
  • Large Enterprises
  • Small & Medium-Sized Enterprises
• Deployment Model
  • Private Cloud
  • Public Cloud
• Vertical
  • Banking, Financial Services, & Insurance
  • Consumer Goods & Retail
  • Education
  • Energy & Utilities
  • Government & Public Sector
  • Healthcare & Life Sciences
  • Manufacturing
  • Media & Entertainment
  • Telecommunications & IT

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?