Market Overview:
Cloud storage providers are also known as managed service providers (MSP), offer organizations and individuals, the ability to place and retain data in an off-site storage system. It is increasing due to flexibility, scalability, and deployment. Due to COVID-19, the demand for services including consulting, training, support, and maintenance, and implementation is also increasing as more companies are moving their workloads to the cloud owing to its scalability, flexibility, and other functions.
Influencing Trend:
Social media analytics influenced end-users to adopt automated storage services to offer real-time enhanced customer experience and Rising adoption of Artificial Intelligence (AI) and Storage as a Service (STaaS) storage model
Market Growth Drivers:
Growing demand for cost-effective data storage, data protection, storage, and security., Increased use of mobile technologies, Rising demand for data backup and disaster recovery solutions, and rising need for providing the remote workforce and Increasing demand for technological advancement such as remote sensing technologies
Challenges:
Data privacy and security concerns
The key Players profiled in the report are IBM Corporation (United States), Amazon Web Services (United States), Microsoft Corporation (United States), Dropbox, Inc.(United States), VMware, Inc. (United States), Oracle Corporation (United States), AWS (United States), Huawei (China), Alibaba Cloud (China), Rackspace Technology (United States), Dell Technologies (United States) and Tencent Cloud (China). Additionally, other players that are of this comprehensive study are Fujitsu (Japan), Hitachi Vantara (US), DigitalOcean (US) and pCloud (Switzerland).