WW Cloud Storage Market To Grow From $132 Billion In 2024 To $665 Billion By 2032
StorageNewsletter.com, Thursday, May 9th, 2024
The global cloud storage market size was valued at $108.69 billion in 2023 and is projected to grow from $132.03 billion in 2024 to $665 billion by 2032, exhibiting a CAGR of 22.4% during the forecast period.
The market study considered cloud storage solutions offered by market players, such as Amazon Web Services Inc.'s Amazon Simple Storage Service (S3) object storage, file storage including the Amazon Elastic File System, Amazon FXs for Windows File Server,
Amazon FXs for Lustre, and Amazon Elastic Block Storage. Similarly, Oracle Corporation's file, block and object storage, archive storage, flash local storage and storage gateway, Google LLC's Filestore, Cloud archival storage, persistent disk, local SSD block storage, and cloud object storage.
The growth of the cloud storage is driven by several factors, such as the growing volume of unstructured data and increased demand for advanced technologies, such as IoT, AI, analytics, automation, and others.