Cloud Storage Market Size is Projected To Reach USD 222.25 Billion By 2027 - Valuates Reports
The global cloud storage market size was valued at USD 46.12 Billion in 2019 and is projected to reach USD 222.25 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
- The global cloud storage market size was valued at USD 46.12 Billion in 2019 and is projected to reach USD 222.25 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
- Major factors driving the growth of Cloud Storage Market size are a substantial change to hybrid cloud as the primary deployment model, increased compensation for low-cost data storage, faster accessibility of data, increased cloud adoption across several industry verticals, security concerns over cloud storage, and growth in cloud adoption among small and medium enterprises.
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The growing demand for hybrid storage, where flexibility is given to move between private and public storage space, is expected to drive the cloud storage market size during the forecast period. - On the other hand, Asia-Pacific is expected to witness the highest growth in the cloud storage market share.