Skip to main content

Cloud Storage Market is Projected to Showcase Massive Growth

The cloud storage market is growing at a rapid pace, due to the introduction of IoT, remote sensing technologies, and advanced video systems like 4K resolution cameras has led to the generation of high-volume data. As a result, there is an increasing need for cloud storage networking and technologies.

In addition, the Global Cloud Storage Market is estimated to grow at a CAGR of more than 21% during the analysis period 2021-2027.

Growing penetration of IoT-connected devices led to the generation of huge volumes of IoT data which led to a rise in the use of cloud storage platforms like OneDrive, Google Drive, iCloud, Dropbox, etc. Machine learning and autonomous systems like autonomous vehicles are anticipated to propel the use of cloud computing services such as data storage.

Cloud Storage Market

Current market trends have given an increase to the digitalization of businesses and Industry 4.0. Trends like hosted cloud storage and the involvement of social media with cloud storage are anticipated to drive the growth of the market.

In addition, the cloud allows storage scalability with nominal cost as compared to on-premise data centers or servers which in turn, drives its adoption among small and medium businesses across the globe.

The growth of the cloud computing idea has been an important factor affecting the storage landscape in recent years. Public cloud providers like AWS, Microsoft Azure, and Google Cloud have redefined the storage market by delivering highly scalable architectures that are increasingly becoming an integral part of businesses’ overall storage strategies.

Regional Overview
As per the studies, the North American cloud storage market is already reaping the advantages of the mature stage in the region, the US maintains the highest regional share due to the existence of key players and well-established players of various industry verticals that continuously adapt to newer technologies for improved work efficiency and business productivity along with high scalability and flexibility and low maintenance costs.

Labels:
Location: United States

Comments

Post a Comment

Popular posts from this blog

Top 5 Smart Speakers Tech-Savvy Can Buy!

A smart speaker is a device that responds to the voice commands a human give. It has microphones built-in so that it can listen for an activation word, take the voice request and then perform the right action, which can range from giving a voice reply or controlling a smart device. All voice assistant works on cloud-based software which means the voice of the individual by whom the command is given, is sent to a cloud server for processing, and the result is thrown out through the smart speaker. The advantage of this system is that there are few software updates to handle, and new features appear instantly on all connected smart speakers. It also means that smart speakers don’t become obsolete very fast. The above-listed applications of smart speakers and the growing popularity of smart speakers are the primary reasons for the growth of this market. According to a research report by Astute Analytica, the Global Smart Speaker Market will register a CAGR (Compound Annual Growth Rate) of
Post a Comment
Read more

Factors Limiting the Growth of the Online Retail Market

Online retail is offering customers a seamless, engaging shopping experience across platforms is the best way to grab their attention and their wallets in the current world.   According to a research report by Ast ute Analytica, the Global  Online Retail Market  is growing at a compound annual growth rate (CAGR) of 10% over the projection period from 2023 to 2031.    Online retail services are growing at an astounding rate, with online sales now accounting for more than 25% of all retail sales. The ease of purchasing for consumers and advancements in online platforms are significant drivers of this expansion.   Factors affect market growth: The market’s growth is attributed to a variety of factors, such as the rising level of technology adoption by consumers and retailers, as well as the broad availability and use of smartphones, which have improved the efficiency and accessibility of the online retail industry. Compared to more traditional modes of payment, online transactions are get
Post a Comment
Read more

The Digital Revolution of Online Learning: Reshaping Higher Education

With the rise of online learning, the area of education is undergoing substantial transformation. This digital method provides students with several alternatives for personalizing and enhancing their educational experience, particularly in higher education. The COVID-19 pandemic precipitated an abrupt transition towards online learning, which caught many higher education institutions off guard. However, after a year of adjusting to this new structure, many students have learned to value the advantages of online learning. Several reasons are driving expansion in the online education sector. Governments are increasingly investing in online education programs, and the widespread use of PCs, tablets, and smartphones has increased students' access to educational resources worldwide. Furthermore, Astute Analytica estimates that the global Online Education Market would develop at a compound annual growth rate (CAGR) of 23.7% between 2023 and 2031. The Transformative Impact of Online Lear
Post a Comment
Read more