The global multi-cloud storage market is forecasted to be appraised at US$ 111,326.6 Million by 2032, up from US$ 23,711.4 Million in 2022, advancing at a CAGR of 16.7% during the forecast period.
Several enterprises are expected to increase the adoption of multi cloud storage owing to using numerous cloud environments to satisfy business requirements and concerns over increasing data loss. However, there are challenges associated with redesigning the network for the cloud, as well as a prevailing lack of adequate expertise, which are factors expected to hamper the market growth.
| Attributes | Details |
|---|---|
| Multi Cloud Storage Market Size (2022) | US$ 23,711.4 Million |
| Multi Cloud Storage Market Size (2032) | US$ 111,326.6 Million |
| Multi Cloud Storage Market CAGR | 16.7% |
On the contrary, key service providers are trying to enter the multi cloud storage management marketplace and maintaining, implementing, and offering support for multiple cloud products, while customization of service and flexibility is anticipated to attract more customers to adopt cloud services on a larger scale. Certain key providers aim to simplify and consolidate hybrid cloud environments for their end users with security-rich, high-performance multi-cloud storage solutions. Their data can be stored in a private environment, and workloads can be managed in the public cloud.
Workloads can further be managed in private data centers, as well as move data in and out of the public cloud. They can be used with traditional applications or modern data lakes. Key players are further offering block storage and rapid scaling for growing volumes of data with a Flash System. Data management can be simplified with AI-driven analytics and hybrid cloud with spectrum virtualized data services. They offer the ability to develop smart applications with embedded machine learning and analyze sensitive data while protecting privacy.
Additionally, high-performance transactional applications and real-time analytics can be built and run at the petabyte scale. Key providers emphasize separating data management and cloud management strategies across multiple public cloud providers, with the user’s data residing on a single power protect appliance consumed as-a-service. Vendor lock-in can be avoided by keeping data independent of the cloud. The data can further be applied to multiple use cases such as replication, cyber resiliency, in-cloud protection, archiving, and disaster recovery to the cloud. Market players are offering the minimization of their end user’s total cost of ownership (TCO) with managed services that eliminate infrastructure maintenance.
Storage can optimize costs based on how frequently and quickly one needs to access data. Most of the top players support more security standards and compliance certifications than any other cloud provider to help customers satisfy requirements for virtually every regulatory agency around the globe. Furthermore, end users can choose from a variety of tools to get more from their data and accelerate new products and service delivery. They can also run big data analytics, artificial intelligence (AI), machine learning (ML), high-performance computing (HPC), and media processing applications on all of their cloud data.
Top providers offer their end users the flexibility to migrate, build and optimize apps across hybrid and multi cloud environments while minimizing vendor lock-in, leveraging best-in-breed solutions, and meeting regulatory requirements. They further empower the end users to increase their agility and reap the benefits of the multi cloud. They offer a consistent platform and data analysis for your deployments, along with a service-centric view of all your environments. Moreover, they aid in reducing security vulnerabilities by implementing guardrails and defense-in-depth security strategies while adhering to the end user’s organization’s governance and compliance requirements. These factors are anticipated to create growth opportunities for the multi cloud storage market share.
Multi cloud storage assists organizations in minimizing costs and reducing the need for hardware and appliances by adopting changing IT environments. Furthermore, governments are enforcing policies and observability on deploying multi cloud storage. It is also durable and has the ability to increase the resiliency of data. These factors are estimated to spark innovations in the multi cloud storage market trends.
Several enterprises are heavily adopting emerging cloud-based platform-as-a-service (PaaS). This helps reduce dependence on a single vendor and provides easy access to end users working on different platforms. In addition, advances in the latest technologies, such as machine learning and AI, along with the continuous rise of high-speed 5G networks, are estimated to boost the global market growth.
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Continuous changes presented by the cloud providers in multi-cloud and hybrid environments lead to loss of visibility and loss of synchronization. Therefore, the adoption of multi cloud storage platforms allows users to effectuate all the necessary changes introduced by different cloud and on-premise service providers under a single platform.
There has been increasing pressure to ensure compliance with various data security and privacy protection regulations. Moreover, there have also been concerns over the reliability of a single cloud, as well as a rising predisposition toward price-sensitive cloud installations. These factors are likely to expand the global market size.
End users can employ multi cloud management tools to manage complex applications across several heterogeneous cloud platforms for maximal independence. This removes vendor lock-ins and allows for smooth movement from one provider to another. This is expected to surge the demand for multi cloud storage.
While transferring workloads from one cloud ecosystem to another, cloud brokers may also face limitations. Hence, once they are designed for or transferred to it, workloads are then bound inside a single public cloud provider. Moreover, cost reductions and moving workloads/applications from location to location in search of the greatest performance are expected to be key impediments to Cloud Services Brokerage (CBS) technology.
Conversely, ISVs are transitioning from software developers to software developers to software providers through the use of visualization and cloud computing to remain competitive. Furthermore, most on-premises suppliers are migrating to the cloud deployment paradigm in order to decrease IT expenses and provide cloud-based products and services.
Principal Consultant
North America is the largest multi cloud storage market growing at a notable profit of 41.7%. This is attributed to cloud services transitioning from isolated cloud services to platforms combining on-site, public, and private IaaS. Furthermore, the growing adoption of connected and IoT-enabled devices has driven the demand for innovative solutions based on the latest technologies, as well as the continued rollout of the wireless community. This is likely to expand the global multi cloud storage market size.
Europe is a growing multi cloud storage market with a revenue of 22.7%. This is owing to its robust connectivity infrastructure, which drives the deployment of cloud services. In addition, to lower the expenses associated with the fixed capacity infrastructure and to leverage cloud-native services to roll out a highly scalable infrastructure using the cloud, a looming migration of workloads to the cloud is effective, particularly in this region.
Start-up companies have witnessed the growth of multi cloud storage market share, and are contributing to the growth with innovative strategies:
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The multi cloud storage market share is bottom fragmented and top consolidated, which is attributed to the presence of some key players obtaining a major block of the market share. The players are often involved in opting for both organic and inorganic growth strategies to expand their geographical presence and their product portfolio.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 16.7% from 2022 to 2032 |
| The base year for estimation | 2021 |
| Historical data | 2016 to 2021 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments Covered | Deployment Type, Enterprise Size, Verticals, and Region. |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia; and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, United Arab Emirates(UAE), Iran, South Africa |
| Key companies profiled | IBM Corp.; Google Inc.; Microsoft Corporation; Dell Technologies Inc.; CloudBolt Software Inc.; SAP SE; AWS; Gosun Technology; Nasuni; Qumule; HPE; EMC; Flexera Software LLC; International Business Machines Corporation; Jamcracker Inc.; Concierto.cloud; UnityOneCloud; VMware Inc. etc. |
| Customization scope | Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The multi cloud storage market is likely to accumulate a CAGR of 4.6%, during the forecast period.
North America is the leading multi cloud storage market with a revenue of 41.7%.
By 2032, the multi cloud storage market is likely to grow to a valuation of US$ 111,326.6 Million.
1. Executive Summary | Multi Cloud Storage Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Deployment Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Deployment Type, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Type, 2022 to 2032
5.3.1. Public
5.3.2. Private
5.3.3. Hybrid
5.4. Y-o-Y Growth Trend Analysis By Deployment Type, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Deployment Type, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Enterprise Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise Size, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2022 to 2032
6.3.1. Small and Medium Enterprises
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Verticals
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Verticals, 2017 to 2021
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Verticals, 2022 to 2032
7.3.1. BFSI
7.3.2. Retail
7.3.3. Energy and Utility
7.3.4. Health Care and Life Science
7.4. Y-o-Y Growth Trend Analysis By Verticals, 2017 to 2021
7.5. Absolute $ Opportunity Analysis By Verticals, 2022 to 2032
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa(MEA)
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. United Kingdom
9.2.1.2. Canada
9.2.2. By Deployment Type
9.2.3. By Enterprise Size
9.2.4. By Verticals
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Deployment Type
9.3.3. By Enterprise Size
9.3.4. By Verticals
9.4. Key Takeaways
10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Deployment Type
10.2.3. By Enterprise Size
10.2.4. By Verticals
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Deployment Type
10.3.3. By Enterprise Size
10.3.4. By Verticals
10.4. Key Takeaways
11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Deployment Type
11.2.3. By Enterprise Size
11.2.4. By Verticals
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Deployment Type
11.3.3. By Enterprise Size
11.3.4. By Verticals
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Malaysia
12.2.1.5. Singapore
12.2.1.6. Australia
12.2.1.7. Rest of Asia Pacific
12.2.2. By Deployment Type
12.2.3. By Enterprise Size
12.2.4. By Verticals
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Deployment Type
12.3.3. By Enterprise Size
12.3.4. By Verticals
12.4. Key Takeaways
13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of Middle East and Africa(MEA)
13.2.2. By Deployment Type
13.2.3. By Enterprise Size
13.2.4. By Verticals
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Deployment Type
13.3.3. By Enterprise Size
13.3.4. By Verticals
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. United Kingdom
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2021
14.1.2.1. By Deployment Type
14.1.2.2. By Enterprise Size
14.1.2.3. By Verticals
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2021
14.2.2.1. By Deployment Type
14.2.2.2. By Enterprise Size
14.2.2.3. By Verticals
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2021
14.3.2.1. By Deployment Type
14.3.2.2. By Enterprise Size
14.3.2.3. By Verticals
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2021
14.4.2.1. By Deployment Type
14.4.2.2. By Enterprise Size
14.4.2.3. By Verticals
14.5. Rest of Latin America
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2021
14.5.2.1. By Deployment Type
14.5.2.2. By Enterprise Size
14.5.2.3. By Verticals
14.6. Germany
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2021
14.6.2.1. By Deployment Type
14.6.2.2. By Enterprise Size
14.6.2.3. By Verticals
14.7. United Kingdom
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2021
14.7.2.1. By Deployment Type
14.7.2.2. By Enterprise Size
14.7.2.3. By Verticals
14.8. France
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2021
14.8.2.1. By Deployment Type
14.8.2.2. By Enterprise Size
14.8.2.3. By Verticals
14.9. Spain
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2021
14.9.2.1. By Deployment Type
14.9.2.2. By Enterprise Size
14.9.2.3. By Verticals
14.10. Italy
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2021
14.10.2.1. By Deployment Type
14.10.2.2. By Enterprise Size
14.10.2.3. By Verticals
14.11. Rest of Europe
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2021
14.11.2.1. By Deployment Type
14.11.2.2. By Enterprise Size
14.11.2.3. By Verticals
14.12. China
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2021
14.12.2.1. By Deployment Type
14.12.2.2. By Enterprise Size
14.12.2.3. By Verticals
14.13. Japan
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2021
14.13.2.1. By Deployment Type
14.13.2.2. By Enterprise Size
14.13.2.3. By Verticals
14.14. South Korea
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2021
14.14.2.1. By Deployment Type
14.14.2.2. By Enterprise Size
14.14.2.3. By Verticals
14.15. Malaysia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2021
14.15.2.1. By Deployment Type
14.15.2.2. By Enterprise Size
14.15.2.3. By Verticals
14.16. Singapore
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2021
14.16.2.1. By Deployment Type
14.16.2.2. By Enterprise Size
14.16.2.3. By Verticals
14.17. Australia
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2021
14.17.2.1. By Deployment Type
14.17.2.2. By Enterprise Size
14.17.2.3. By Verticals
14.18. Rest of Asia Pacific
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2021
14.18.2.1. By Deployment Type
14.18.2.2. By Enterprise Size
14.18.2.3. By Verticals
14.19. GCC Countries
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2021
14.19.2.1. By Deployment Type
14.19.2.2. By Enterprise Size
14.19.2.3. By Verticals
14.20. South Africa
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2021
14.20.2.1. By Deployment Type
14.20.2.2. By Enterprise Size
14.20.2.3. By Verticals
14.21. Israel
14.21.1. Pricing Analysis
14.21.2. Market Share Analysis, 2021
14.21.2.1. By Deployment Type
14.21.2.2. By Enterprise Size
14.21.2.3. By Verticals
14.22. Rest of the Middle East and Africa(MEA)
14.22.1. Pricing Analysis
14.22.2. Market Share Analysis, 2021
14.22.2.1. By Deployment Type
14.22.2.2. By Enterprise Size
14.22.2.3. By Verticals
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Deployment Type
15.3.3. By Enterprise Size
15.3.4. By Verticals
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. IBM Corp.
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. SAP SE
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Microsoft Corp.
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Gosun Technology
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Google
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. VMware
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. EMC
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Multi Cloud Storage Market
