INSIGHTS
The growing online activities such as e-mail, enterprise resource planning, digital images, Salesforce automation, video surveillance and social networking data have led to an increase in unstructured data both large and small businesses. This explosion of big data has emerged as a challenge before business organization. Although organizations are increasing their IT budgets, however, in house management of such large amount of data incurs high cost. Thus, organizations are rapidly moving towards cloud storage services.
Global cloud storage market forecasted to grow at CAGR 29% during 2015-2021: report
Date: 2015/11/27
Source: Research and Markets
The global cloud storage market is expected to grow at CAGR 29 percent during 2015-2021 approximately, according to a report by Research and Markets.
Growing online activities such as e-mail, enterprise resource planning, digital images, salesforce automation, video surveillance and social networking data have led to an increase in unstructured data both large and small businesses. This explosion of big data has emerged as a challenge before business organization. Although organizations are increasing their IT budgets, however, in house management of such large amount of data incurs high cost. Thus, organizations are rapidly moving towards cloud storage services.
The cloud computing storage market is majorly driven by the growing use of social media for business activities and the growing e-commerce activities. Although the security and primary concerns will continue to hamper the market growth, emergence of various cloud security services will create better opportunities for the cloud storage market.
The OBRC report titled "Global Cloud Storage Market Forecast 2015-2021" is segmented on the basis of storage types, services, deployment model, and industry verticals and region. Cloud storage is being widely used by variety of applications such as BFSI, IT & telecommunications, consumer goods and retail, government & defense and so on.
The report provides detailed company profiles of key market players and their strategies. They key players discussed in the report include Amazon Web Services, Google Inc., IBM Corporation, Hewlett Packard Company, Microsoft Corporation, AT & T Inc., Rackspace Hosting Inc., VMWare Inc. The country level analysis of each geographical region is the USP of our report.
The analysis of the report is based on various parameters such as cloud adoption across geographies, global online data growth, growing big data across industry verticals, internet penetration across geographies, data centers in various geographies, IT spending across geography. The data is collected through primary and secondary research.