Public / private cloud storage market worth $56.57 billion by 2019

DALLAS, USA: The report "Public/Private Cloud Storage Market by Solution (Cloud Storage Gateways, Backup & Recovery, Data Movement & Access), by Software (Data Replication, HSM & Archiving, Security & Storage Resource Management) - Worldwide Forecasts & Analysis (2014 - 2019)", defines and divides the Cloud Storage Market into several sub-segments along with a detailed analysis and forecasting of revenues generated from each division. It also provides details into drivers and restraints for the market and identifies the opportunities, challenges and ongoing trends in the market.

With the rapid increase of digital content across the globe, there is a need to manage the constantly growing data files. The growth in volume and variety of unstructured data in multi-industrial enterprises has created a need for secure, reliable and cost efficient data storage infrastructure. The cloud based storage solutions provides a secure, reliable and cost efficient data storage and migration facilities for easy access from multiple lines within an organization and amongst multiple organizations as well.

The drivers, restraints and opportunities along with the time-impact analysis have been depicted in the report. The drivers for this market are listed as - growing big data and unstructured data, rapid adoption rate of cloud storage gateways, and consumerization of IT. The restraints for this market are cloud storage data security issues and performance related issues. The opportunities such as rising demand for cloud security solutions, strategic partnerships in this market, and private cloud storage adoption by enterprises have been evaluated in the report.

The Public / Private Cloud Storage Market is estimated to grow from $13.57 billion in 2014 to $56.57 billion in 2019 at a CAGR of 33.1 percent from 2014 to 2019. On geographical grounds, North America (NA) is forecasted to be the biggest market for cloud storage technology while other regions such as Middle-East and Africa (MEA), Latin America (LA) and Asia Pacific (APAC) are forecasted to experience a rise in this market with high CAGRs in the due course.