Dell EMC one of the key player in the cloud object storage market. It offers object storage solutions that supports new workloads like modern application development. Customers are leveraging object storage to analyze their data and gain insights about customers. A good example is how Uber disrupted the taxi industry with cloud technology and analytics. Caringo Inc. a prominent player in cloud storage market offers cloud storage solutions in content delivery segment, media & entertainment, high performance computing and in public sector information technology. Swarm an object storage software developed by Caringo provides valuable service in public sector IT. It is being used by the department of defense, department of justice, City of Austin, Brazilian Federal Court System to provide scalable, reliable storage that is securely accessible yet cost effective for long period. The technologies boosting the cloud object storage market is cloud computing, big data analytics and internet of things.
The study indicates big social media companies such as Facebook, Instagram and Twitter use Cloud Object Storage Market technology to store millions of user photos every day. By organization size segment large enterprises accounts for largest market share as large data volumes are generated by these companies and there is a need for more secure and reliable data storage device to prevent the sensitive data from being hacked.
Software as a service platform helps in delivering centrally hosted applications over the internet. SaaS applications are called web-based software, on-demand software, or hosted software. SaaS applications runs on a SaaS provider’s servers. The segmentation on the basis of cloud deployment it includes public cloud, hybrid cloud and private cloud. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
According to Market Research Future Analysis, cloud Object Storage market has been valued at approximately USD 6 Billion by the end of forecast period with approx. 14% of CAGR during forecast period 2017 to 2023.
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Major Key Players:
• Dell EMC (U.S.)
• International Business Machines Corporation (U.S.)
• Hewlett-Packard Enterprise (U.S.)
• Caringo Inc. (U.S.)
• Hitachi Data Systems (U.S.)
• Datadirect Networks (U.S.)
• Netapp, Inc. (U.S.)
• International Data Corporation (U.S.)
• Microsoft Corporation (U.S.)
• Google (U.S.)
Market Regional Analysis:
Regional analysis for Cloud Object Storage Market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of World. North America region is mainly dominating the market due to adoption of advanced marketing techniques in enhancing business and increase adoption of analytics by organization in cloud marketing platform. North America region is one of the prominent player in the market due to advanced technological implementation in numerous vertical. European region is also gaining growth owing to growing demand from citizens and huge investment by enterprise in cloud object storage market.
Asia-Pacific region is the fastest growing player in the cloud object storage market owing to advanced technological development from countries such as China and India is boosting the market growth. Increasing urbanization, business expansion, industrial developments and growing educational sector is driving the growth of cloud Object Storage market in the region. Growing economies such as India, Japan, and China accounted for the largest market share due to growing IT network in this region. The region consists of many small and medium size enterprise that is contributing towards the growth of market from the region.
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Cloud Object Storage Market Segmentation:
Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enable enterprise to focus on core business competencies.
It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared.
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• Investors and consultants
• System Integrators
• Government Organizations
• Research/Consultancy firms
• Technology solution providers
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