Cloud Storage Market
Report ID: SQMIG45E2388
Report ID: SQMIG45E2388
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USA +1 351-333-4748
Report ID:
SQMIG45E2388 |
Region:
Global |
Published Date: July, 2025
Pages:
172
|Tables:
121
|Figures:
70
Global Cloud Storage Market size was valued at USD 118.6 Billion in 2024 and is poised to grow from USD 141.38 Billion in 2025 to USD 576.22 Billion by 2033, growing at a CAGR of 19.2% during the forecast period (2026–2033).
The demand for cloud storage services is rising because of the quick rise in data production brought on by the expanding use of social media, digital content, and the Internet of Things. Massive volumes of real-time data are produced by IoT devices. For instance, smart home devices collect data on energy consumption. Scalable storage solutions are required due to the enormous amount of data produced by IoT devices. Businesses can securely store this data in the cloud and quickly access it for analytics and decision-making.
The global cloud storage market growth is driven as more people adopt cloud-based storage due to lower maintenance costs. Investments in IT personnel, technical support, and hardware upkeep are necessary for an on-premises data storage infrastructure. The cost of infrastructure maintenance may rise sharply as storage systems expand. The cloud storage provider oversees applying security patches, repairing hardware, and updating software. Businesses no longer need to employ specialized personnel for storage-related maintenance.
Can AI Improve Data Security in Cloud Storage Systems?
The cloud storage market outlook is being revolutionized by artificial intelligence, which enhances data management, security, and efficiency. By offering automated backup systems, predictive storage optimization, and intelligent tiering, AI algorithms lessen the need for human intervention. Google Cloud launched AI-powered storage management solutions in 2024, which helped users save up to 30% on storage expenses by automatically optimizing storage performance based on consumption patterns. Similarly, AWS added generative AI to Amazon S3 to offer compliance tagging and real-time data classification. These developments will be especially helpful to large dataset handling industries like healthcare and finance. AI's role in improving cloud storage scalability and intelligence will only grow as data volumes rise, encouraging innovation and helping businesses stand out from the competition.
Market snapshot - 2026-2033
Global Market Size
USD 99.5 Billion
Largest Segment
Object
Fastest Growth
File
Growth Rate
19.2% CAGR
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The global cloud storage market is segmented into storage, industry vertical, end use, pricing model, and region. By storage, the market is classified into objects, files, blocks, and cold. According to industry vertical, it is divided into BFSI, healthcare, IT & telecom, retail & consumer goods, media & entertainment, and manufacturing. Depending on end use, the market is categorized into SME, large enterprises, and individuals. As per pricing model, it is segregated into pay-as-you-go, subscription-based, and freemium. Regionally, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
What Makes Object Storage Different from Traditional Storage Systems?
As per the 2024 global cloud storage market analysis, the object category dominated the market. Businesses can easily expand by adding more storage capacity due to its architecture, which eliminates the need for laborious configuration processes or manual intervention. Unlike traditional storage systems that may require scaling physical hardware, object storage simplifies and automates this process.
The file category is anticipated to hold a significant cloud storage market share throughout the forecast period due to its remote accessibility and security. Users can access files stored in the cloud from any location with an internet connection. It will be helpful for both individuals and teams who need to access data from multiple devices. Cloud providers encrypt both stored and in-transit files to guard against unauthorized access to data. Additionally, cloud storage providers offer MFA to enhance data security.
Why is BFSI Sector Rapidly Adopting Cloud Storage Solutions?
Based on the 2024 global cloud storage forecast, cloud storage solutions are being adopted by BFSI service providers worldwide because they enable banks to integrate customer support, finance, and enterprise operations and to consolidate large data sets in a single location for integrated insights and advanced analytics. In June 2024, Kyndryl made the National Bank of Canada partnership official. This partnership aims to accelerate the bank's digital transformation and cloud migration.
The IT & telecom industries are growing rapidly because cloud storage removes the need for hardware by storing network data, customer records, and service logs. Smarter and more connected infrastructure and devices are being made possible by emerging technologies like artificial intelligence (AI) and the Internet of Things. Businesses and the economy's overall digital transformation is being aided by advancements in IT services.
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How is North America Leading the Shift Toward Scalable Cloud Storage?
As per the cloud storage market regional analysis, AI-powered data analytics and enterprise cloud migration are driving the cloud storage market in North America. Nearly 70% of businesses implemented a multi-cloud strategy in 2024. The United States and Canada are expected to have invested more than USD 25 billion in cloud infrastructure by 2025. The need for safe, scalable storage solutions in the healthcare and financial sectors, as well as the expanding use of hybrid work, are driving growth.
U.S. Cloud Storage Market
AI model training and remote collaboration tools have increased the demand for cloud storage in the United States. Amazon S3 held a dominant 30% market share by 2024. Due to federal cloud-first legislation and the digitization of the private sector, it is anticipated that spending on cloud storage will surpass USD 20 billion by 2025. For real-time operations in sectors like media streaming and biotechnology, high-performance, low-latency storage systems are becoming more and more crucial.
Canada Cloud Storage Market
Government cloud mandates and growing concerns about data sovereignty caused Canada's cloud storage market to grow 16% in 2024. To improve local availability, Microsoft opened new Azure data centers in Toronto and Quebec. As digital transformation initiatives grow, the healthcare and educational sectors are anticipated to lead adoption in 2025 due to the growing need for secure cloud backup and long-term archive storage.
Why are European Enterprises Prioritizing Local Cloud Providers?
The GDPR and the EU's push for data localization have led to an increase in cloud storage in Europe. European cloud service providers, such as OVHcloud, overtook the US giants in 2024. The market is expected to reach over USD 15 billion by 2025. The primary drivers of the demand for scalable, compliant storage are the growing use of AI in the business sector and the cloud computing adoption by the public sector in France and Germany.
UK Cloud Storage Market
The UK cloud storage sector grew by 18% in 2024 as the legal and financial sectors tried to comply with post-Brexit data regulations. In response, Google Cloud and AWS announced new zones based in the UK. In 2025, the use of generative AI in media and research organizations is driving demand for high-throughput, secure storage infrastructures that comply with UK data protection regulations.
France Cloud Storage Market
The national "Cloud de Confiance" project influences the French cloud storage market. Capgemini and Orange introduced a GDPR-compliant sovereign cloud solution in 2024. Growth in the telecommunications and public administration sectors is anticipated in 2025, with an emphasis on scalable and secure storage. The need for real-time cloud-based data access and preservation is growing as a result of AI integration in manufacturing and logistics.
Germany Cloud Storage Market
Germany's focus on data sovereignty makes regional cloud providers like Deutsche Telekom's T-Systems important players. By using Gaia-X-compliant platforms, the Federal Government expanded its use of the cloud in 2024. The need for low-latency, high-security cloud storage will increase by 2025 because of smart city initiatives and industrial automation. Cloud storage is becoming increasingly popular across industries as German companies prioritize AI-driven data processing and compliance.
How is Asia-Pacific Powering Cloud Growth Through Mobile and AI?
Cloud storage usage increased by 22% in Asia-Pacific in 2024, primarily because of e-commerce and digital banking. The use of AI, mobile-first economies, and government digitization initiatives are the main drivers of market expansion in 2025. Google and Alibaba Cloud have increased the number of data centers in the region. Localized cloud plans are being influenced by regulations in nations like South Korea and Japan that place a high priority on data residency.
South Korea Cloud Storage Market
In 2024, the South Korean cloud storage market expanded by 20% because of the growing usage of fintech and gaming. Government programs like the "K-Cloud Project" will boost cloud computing adoption in the public sector by 2025. High-speed storage solutions with AI optimization are being invested in by KT Cloud and Naver Cloud. The demand for scalable, real-time data access is being driven by the emergence of AI startups and the rollout of 5G.
Japan Cloud Storage Market
Cloud storage is growing in Japan because of the digitization of manufacturing and healthcare. AWS expanded its data localization capabilities to include the Tokyo region in 2024. It is anticipated that cloud spending will surpass USD 10 billion by 2025. For robotics, IoT, and AI applications, especially in smart factories and national health data networks, safe, high-availability storage is essential.
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Cloud Storage Market Drivers
Growth in All Industries' Data Generation
Growing Use of Multi-Cloud and Hybrid Approaches
Cloud Storage Market Restraints
Privacy and Data Security Concerns
Problems with High Bandwidth and Latency
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With their integrated ecosystems and aggressive pricing strategies, tech giants like Amazon Web Services, Microsoft Azure, and Google Cloud dominate the fiercely competitive cloud storage market. Players are concentrating on improving hybrid cloud compatibility, AI integration, and security. To attract enterprise clients and satisfy the increasing demand for scalable, compliant storage solutions, businesses frequently employ strategic alliances, acquisitions (such as IBM's acquisition of Red Hat), and regional data center expansions.
Top Player’s Company Profile
Recent Developments in Cloud Storage Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global cloud storage market is experiencing swift growth and expansion because organizations are seeking safe, scalable, and flexible ways to store their data in any industry. Organizations are creating and consuming vast amounts of data, and cloud storage provides an economical and convenient form of data management. Although many issues remain, such as latency, bandwidth limits, and data privacy, edge computing, artificial intelligence (AI) and hybrid cloud architectures are changing the market landscape. Leading organizations are strengthening their position in the market by entering alliances with partners and by growing their presence in specific regions while innovative startups are launching targeted innovations. The cloud storage market is expected to grow steadily as organizations are prioritizing digital transformation and intelligent automation, performance efficiencies, and data inclusion across multiple environments.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 118.6 Billion |
| Market size value in 2033 | USD 576.22 Billion |
| Growth Rate | 19.2% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Top Player’s Company Profile
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Cloud Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cloud Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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