The global private cloud storage market is anticipated to grow at a CAGR of 20% during the forecast period (2022-2028). Private cloud storage is a type of storage mechanism that stores an organization’s data at in-house storage servers by implementing cloud computing and storage technology. Private cloud storage is the same as public cloud storage which provides the usability, scalability, and flexibility of the storage. The rising demand for greater storage in consumer electronic devices, as well as the requirement for disaster recovery planning, is the driving factor for the growth of the global private cloud storage market. Private cloud storage is typically deployed by large-sized organizations which have regular incoming data as well as those with a critical need for data security. Primary users of private cloud storage include banking institutions, IT & telecom companies, and healthcare organizations, among others. The rise in the number of social networking sites, as well as the increased use of smartphones and a broadband connection are some factors that is further expected to boost the growth of the market.
Some major players in the market include Amazon Web Services, Inc. (AWS), IBM Corp., and Microsoft Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in June 2021, Wisekey SA, which is a leading cybersecurity company, launched its WISeID Cloud Storage service as a new edition to the WISeID platform for digital identity and cybersecurity services. WISeID cloud storage services enable users to keep protected file storage in the cloud, in the servers secured by WISeKey’s Swiss technologies. Additionally, in November 2019, Dell Inc. launched Dell EMC Power-One. Power-One is an autonomous infrastructure leveraged to deploy, consume, and manage IT services. It integrates PowerSwitch Networking, PowerEdge computes, and Power Max storage into a centralization system with a built-in intelligence engine to automate processes.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Storage Type
- By Offering
- By Organization
- By End-User
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Amazon Web Services, Inc. (AWS), IBM Corp., and Microsoft Corp., among others.
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Global Private Cloud Storage Market Report by Segment
By Storage Type
- Object Storage
- File Storage
- Block Storage
By Offering
- Solutions
- Services
By Organization
- Large Enterprise
- Small and Medium Enterprise
By End-User
- Healthcare
- Retail
- BFSI
- IT & Telecom
- Government
- Retail
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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