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A01811 | Pages: 200 | Charts: 66 | Tables: 158 |
The global cloud storage market was valued at $98.8 billion in 2023, and is projected to reach $777.6 billion by 2033, growing at a CAGR of 22.5% from 2024 to 2033. The global cloud storage market is experiencing growth due to rise in demand for remote accessibility of data among organizations and constantly increasing volume of data.
Cloud storage is a service through which users can store data by removing locally on the Internet with the help of a third-party provider. It is a cloud computing model that enables users to store and manage data and files on remote servers, accessible over the internet. It allows users to transfer data to offsite storage systems and access it whenever needed, eliminating the need to purchase and manage their own data storage infrastructure. It also improves interaction since several people can apply changes and work simultaneously on one document. Ongoing features such as encryption and user identity validation safeguard the information and maintain the proper security standards. Some of the most used cloud storage services are Google Drive, Dropbox, and Amazon Simple Storage Service. It is a core technology for contemporary data storage and backup systems ranging from individual computer storage to complex data storage for entire enterprises.
Key Market Segments
Key Market Players