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Cloud Storage Market Worth $46.8 Billion by 2018
By: PR Newswire
Dec. 7, 2012 08:31 AM
DALLAS, December 7, 2012 /PRNewswire/ --
According to a new market research report "Cloud Storage Market (Incl. Cloud Storage Gateways, Backup & Recovery, Data Movement & Access, Data Replication, Hsm & Archiving, Security And Storage Resource Management Solutions) - Worldwide Forecasts & Analysis (2012 - 2018)" published by MarketsandMarkets (http://www.marketsandmarkets.com), the total Cloud Storage market is expected to reach $46.8 billion by 2018 with a CAGR of 40.2%.
Browse 130+ market data tables/figures spread through 211 pages and in-depth TOC on "Cloud Storage Market (Incl. Cloud Storage Gateways, Backup & Recovery, Data Movement & Access, Data Replication, Hsm & Archiving, Security And Storage Resource Management Solutions) - Worldwide Forecasts & Analysis (2012 - 2018)".
The emergence of the digital trend has accelerated the volume, speed and variety of unstructured data generated, commonly known as Big Data. But, with the amount of data expanding, organizations face the challenge of storing the data securely and at a low infrastructure cost. This will force enterprises to migrate limitless amount of data and solutions to the virtual environment or cloud storage and without being required to spend too much on infrastructure. The cloud storage market will continue expanding in the coming years and largely due to the growth of Big Data, and the adoption is not forecast to slow down any time sooner and is expected to experience a steady growth rate.
Most of the SMBs are rapidly adopting gateway tools to integrate cloud storage into their existing architecture. The ease of integration of cloud storage into the existing IT infrastructure and security functionality provided by the gateways is what drives the SMBs as well as large enterprises to adopt cloud storage
In the growing cloud storage market many startup companies are building credible businesses. Companies are thriving through partnerships and collaborations. However, the raw number of partnerships is not what helps a company to excel in this market. Strategically valuable partnership or deep partnership with most important ecosystem members will act as a winning imperative for companies in the long run.
Global Cloud market expected to grow from $5.6 billion in 2012 to $46.8 billion by 2013, at an estimated CAGR of 40.2% from 2013 to 2018. North America commanded the largest share; i.e. 60% of the overall Cloud Storage market in 2012 at $3.4 billion; and is expected to reach $21.8 billion by 2018, at a CAGR of 33.8% from 2013 to 2018.
This report analyzes the Global Cloud Storage market based on:
Software : Data Replication Software, Backup & Recovery Software, Hierarchical Storage Management (HSM) & Archiving Software, Security Software and Storage Resource Management (SRM) Software
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analysis of the Cloud Storage market in North America, Western Europe, Eastern Europe Asia-Pacific, Latin America and Middle East & Africa. The competitive information in the reports competitive landscape and company profiles sections include key developments, core strategies, mergers and acquisitions, new product developments, joint ventures and collaboration of key industry players.
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. MarketsandMarkets covers thirteen industry verticals; including advanced materials, automotives and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, aerospace & defence and telecommunications and IT [ http://www.marketsandmarkets.com/telecom-and-IT-market-research-113.html ].
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
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