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Increasing demand for fast transfer of data, data recovery, and data availability with no downtime, and data security threat are some key factors driving market

VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ -- The cloud object storage market size is expected to reach USD 13.65 Billion in 2028 and register a CAGR of 13.6% during the forecast period, according to the latest analysis by Emergen Research. Factors such as increasing demand for fast transfer of data, data recovery, and data availability with no downtime, and data security threats are driving market revenue growth.

Rapid rise in adoption technologies such as deep learning, Internet of Things, data analytics, cloud computing are driving demand for cloud object storage solutions across various verticals worldwide. Social media platforms are expected to register a high growth rate over the forecast period. The media industry faces challenges related to storing, managing, accessing, and facilitating collaboration for vast volumes of data. Interactive television, multiscreen formats, virtual reality, 4K, and 8K video requires large storage capacity, which traditional storage fails to provide.

 The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Cloud Object Storage market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Cloud Object Storage market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.

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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

Key Players Profiled in the Report are:

Oracle Corporation, Cisco Systems, Inc., Hewlett Packard Enterprise, International Business Machines Corporation, Microsoft Corporation, Hitachi Data System, Google LLC, Amazon Web Services, Inc., Datadirect Networks, and Dell EMC.

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Some Key Highlights

In December 2020, Dell launched its first all-flash object storage appliance EXF900 array for AI and cloud native use. The EXF900 uses NVMe SSDs and a PowerEdge Server to deliver highest performance. The API- driven cloud-native architectures- when combined with high performance all- flash media can support the most data hungry workloads.

In July 2020, Hitachi Vantara collaborated with WekaIO to increase object storage performance and flexibility. The objective of this OEM relationship is to build a joint relationship to deliver unstructured data to clients and help them to manage the unstructured data and make it easier for them to leverage that data for decision making and business analytics.

North America held largest revenue share in 2020 and is expected to maintain its leading position during the forecast period. Steady growth can be attributed to presence of major market players in the region, huge investments in R&D by the technocrats, and enhanced infrastructure. Increasing data volumes from various vertical, and technologies such as cloud computing, big data analytics, and Internet of Things are boosting cloud object storage market revenue growth.

 Furthermore, the report provides a comprehensive overview of the Cloud Object Storage market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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Emergen Research has segmented the cloud object storage market based on deployment, enterprise-size, end-use, and region:

Deployment Outlook (Revenue, USD Billion; 2018-2028)

Public Cloud

Private Cloud

Hybrid Cloud

Enterprise Size Outlook (Revenue ,USD Billion; 2018-2028)

SMEs

Large Enterprises

End-Use Outlook (Revenue, USD Billion; 2018-2028)

Social Media Platforms

IT & Telecommunication

BFSI

Others

 Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Cloud Object Storage market expected to boost the growth of the industry in the coming years.

Key Questions Answered in the Report:

What is the growth rate of the Cloud Object Storage market? What is the anticipated market valuation of Cloud Object Storage industry by 2028?

What are the key growth driving and restraining factors of the Cloud Object Storage market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Cloud Object Storage industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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