Cloud Storage Service Market Report

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CLOUD STORAGE SERVICE MARKET REPORT
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INTRODUCTION
Cloud storage allows you to save data and files
in an off-site location that you access either
through the public internet or a dedicated
private network connection. Data that you
transfer off-site for storage becomes the
responsibility of a third-party cloud provider.
The provider hosts, secures, manages, and
maintains the servers and associated
infrastructure and ensures you have access to the
data whenever you need it.
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KEY INSIGHTS
MARKET SIZE
65.32 billion
2022
FORECAST
386.32 billion
2030
CAGR
25.2
2023-2030
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REVENUE MARKET SHARE BY SEGMENTS 2022
Component Storage Model 65.34
Type Public 42.41
Enterprise Size Large Enterprises 68.23
End-use Industry BFSI 26.35
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GLOBAL CLOUD STORAGE SERVICE MARKET REVENUE SHARE
FOR 2022
North America 35.81
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• The growing demand for advanced technologies such
  as the IoT (internet of things), analytics,
  artificial intelligence, automation and others
• Cloud storage stores and manages data on the
  internet and can be delivered on-demand and as
  per pay and use model

Drivers
Lifetime storage and egress cost associated with
public cloud envirnments
Restraints
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AUTHOR'S PERSPECTIVE

• Key market players are likely to increase their
  product offerings due to the fragmented nature of
  the cloud storage service industry.

• These businesses are securing an increase in the
  revenue share by diversifying their product
  offerings.

• Also, it is probably going to make it possible
  for them to take advantage of market chances in
  many industries.

• Strategic alliances are likely to support the
  market participants' desire to grow their
  businesses.

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KEY PLAYERS
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