Cloud Storage Market Growing

September 18, 2016

cloudGlobal growth of cloud storage market is driven by factors such as growing demand for hybrid cloud storage, increasing need for enterprise mobility, need for reduced infrastructure cost, increased adoption of cloud technology by Small and Medium Enterprises (SMEs) and the organizations’ inclination toward subscription-based storage and pay-per-use model.

Primary storage is expected to have the largest cloud storage market share during the forecast period. Cost efficiency for enterprises is the major advantage of primary storage as it charges customers based on the storage space utilized.
The increasing adoption of cloud-based solutions among the enterprises is driving the growth of primary storage solution. Regionally, North America to have the largest share of cloud storage market while Asia-Pacific (APAC) is set to grow at the highest CAGR.
Cloud storage helps avoid security issues and IT glitches and is therefore, growing rapidly in APAC. Cloud emergence and mandatory government regulations are simultaneously helping in boosting the growth of the cloud storage market in the region.
A research on Cloud Services Brokerage and Enablement Market to 2021 says cloud services brokerage and enablement market size is estimated to grow from USD 7.44 billion in 2016 to USD 26.71 billion by 2021, at an estimated CAGR of 29.1% from 2016 to 2021.
The external enablement component market is expected to grow at the highest CAGR during the forecast period.

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