Industry Background:
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.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | 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 AMA, the market for Object Storage is expected to register a CAGR of 13.5% during the forecast period to 2027. This growth is primarily driven by Increasing Demand for Technologically Upgraded Services, Expansion of Professional and Managed Services and Increasing Awareness about Cost-Effective Cloud Services among Others.
Globally, a noticeable market trend is evident Denser and Cheaper Flash
The Cloud Computing sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The global surge in demand for technologically Upgraded Services has led to growth of the Object Storage. This recent trend is expected to expand further as more and more get connected to internet via cheap internet services and cost-effective cloud services.
Key Developments in the Market:
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.
Object Storage Market Dynamics:
Attributes | Details |
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Growth Drivers | - Increasing Demand for Technologically Upgraded Services
- Expansion of Professional and Managed Services
- Increasing Awareness about Cost-Effective Cloud Services among Others
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Influencing Trends | - Denser and Cheaper Flash
- AI And Machine Learning Storage Analytics
- Multi-Cloud Data Management
- Composable Infrastructure
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Gaps & Opportunities | - Low Acquisition Cost Remains the Most Common Reason for Enterprises to Choose Object Storage in the On-Premises Data Center
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AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Object Storage Market
- Analysis about New Entrants in Object Storage Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Object Storage Study Sheds Light on
The Object Storage Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Object Storage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Object Storage industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.