Global Object Storage Market Overview:
Object storage is a modern storage technology concept, which can also define as "cloud object storage". It describes as how to extend local infrastructure with cloud storage capacities and fulfilling a needs to manage hypergrowth to unlock data value on the demand of elasticity, as-a-service pricing, unlimited scale, and global reach. IBM Corporation the major player in the cloud object storage market, which makes storage practically limitless amounts of data, simply and cost-effectively. IBM’s on-premises cloud object storage has come on top in this industry. The cloud object storage market is segmented on the basis of service, cloud deployment, and application. Some of the players profiled in the study are IBM Corporation (United States), Google (United States), Microsoft Corporation (United States), Dell EMC (United States), Hitachi Vantara HCP (Japan), Huawei (China), Qumulo (United States), Scality (United States), NetApp StorageGRID Webscale (United States), Scality Ring (United States) and Cloudian Hyperstore (United States). According to Market Analyst at AMA, the Global Object Storage market may see a growth rate of 13.5%
On the basis of geography, the market of Object Storage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Services, the sub-segment i.e. Professional services will boost the Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Public Cloud will boost the Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increasing Demand for Technologically Upgraded Services
- Expansion of Professional and Managed Services
- Increasing Awareness about Cost-Effective Cloud Services among Others
- Denser and Cheaper Flash
- AI And Machine Learning Storage Analytics
- Multi-Cloud Data Management
- Composable Infrastructure
- Low Acquisition Cost Remains the Most Common Reason for Enterprises to Choose Object Storage in the On-Premises Data Center
- Increasing the Breadth and Depth of Existing Solutions
- Data Security and Privacy Concern
Key Market Developments:
In Jan 2019, Red Hat decided to acquire NooBaa, a start-up developing a software-defined object storage platform, which makes RedHat easy to deploy on existing infrastructure or within a software –driven environment.
In Feb 2019, Veeam software announced that Veeam Plug-in for SAP HANA, it's an SAP Certified Integration for SAP HANA as part of its new Veeam Availability Suite 9.5 Update 4 will come with cloud data management capabilities. Additionally, In Jan 2019, Iron Mountain Incorporated announced the launch of Iron Mountain Iron Cloud Object Storage in Canada, it is a secure cloud-based storage platform for enterprise-class data management.
Investors and Consultants, System Integrators, Government Organizations, Research/Consultancy Firms and Technology Solution Providers
Major Objectives Focused through this Study
To define, describe, and forecast the Global Object Storage market on the basis of product [Object Storage, File Storage and Block Storage] , application [Social media platforms, IT and telecommunications platforms, BFSI and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Object Storage market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Object Storage industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Inspur (China), SUSE (Germany), Caringo (United States) and DDN (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Object Storage market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.