CHICAGO, Feb. 6, 2024 /PRNewswire/ — Driven by trends including growing use of hybrid and multi-cloud solutions, increasing need for edge computing, and an emphasis on data privacy and security, the Cloud Storage Market is expected to continue growing and innovating in the future. Future shaping the market’s evolution to meet changing corporate needs and propel future advancements in cloud storage solutions will be emerging technologies such as AI and analytics, object storage, sustainability initiatives, and integration with blockchain and quantum computing.
The Cloud Storage Market size is expected to grow from USD 99.2 billion in 2023 to USD 234.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 18.8% during the forecast period, according to a new report by MarketsandMarkets™. Enhanced data resilience, accessibility, collaboration, seamless integration between solutions offered by key Cloud Storage vendors, cloud ecosystem maturity, and transition towards OpEx models are a few fundamental driving forces to leverage Cloud Storage adoption across verticals and regions.
Browse in-depth TOC on “Cloud Storage Market”
260 – Tables 58 – Figures210 – Pages
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Scope of the Report
Market size available for years
Base year considered
Value (USD Million)
Offering, Use Case, Deployment Model, Organization Size, and Vertical
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
AWS (US), IBM (US), Google (US), Microsoft (US), Oracle (US), Alibaba Cloud (China), Huawei Cloud (China), Rackspace technology (US), HPE (US), MinIO (US), UpCloud (Finland), pCloud (Switzerland), Sync (Canada), Zadara (US), box (US), Dropbox (US), Tencent Cloud (China), Fujitsu (Japan), NetApp (US), VMware (US), Scality (US), Citrix (US), DigitalOcean (US), Vultr, Wasabi
The content delivery & distribution segment will record the highest CAGR during the forecast period by use cases.
Content Delivery & Distribution applications represent a critical facet of the digital landscape, serving as the backbone for delivering digital content to end-users across the globe efficiently and reliably. In the era of cloud storage, these applications have undergone a transformative evolution, leveraging cloud storage solutions to enhance their agility, scalability, and performance. Traditionally, Content Delivery & Distribution relied on centralized, hardware-intensive architectures. However, cloud storage has ushered in a new era where content providers can harness the power of distributed, containerized environments, such as Kubernetes, to optimize content delivery strategies. This shift empowers organizations to dynamically allocate resources, auto-scale to accommodate fluctuating demand, and seamlessly distribute content across multiple edge locations and cloud regions.
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Based on offering, Storage type holds a higher market share in the Cloud Storage Market during the forecast period.
Cloud storage types, including block, file, and object, are offered differently for different applications. These storage types provide end-users with reliable, cost-efficient, time-saving, and scalable cloud storage features. Cloud storage vendors offer customized cloud storage types to meet property managers’ real-time and complex requirements. These storage types also assist corporates and property managers align business strategies with the enterprises’ long-term growth strategies. Cloud storage types enable optimal maintenance throughout the asset life cycle, leading to high asset utilization and cost optimization.
By region, the Asia Pacific region recorded the highest CAGR during the forecast period.
Due to the rising uptake of cutting-edge technologies like cloud computing and the Internet of Things, the Asia Pacific area is anticipated to witness substantial growth prospects. Rising rates of urbanization, technical developments, and government backing for the digital economy are significant drivers of technological advancements in the region. Many firms are using cloud-based strategies due to the quick developments in cloud computing, IoT, and telecommunications. Throughout the projected period, the region is anticipated to increase significantly. The use of cloud storage solutions has risen considerably due to the growing number of business activities and the growing use of cloud technology. The complexity of managing workloads and applications manually results from the increasing usage of cloud technologies and massive data volumes. This is the primary driver driving the adoption of cloud Cloud Storage solutions among organizations in this region. The primary motivators for cloud technology adoption among businesses would be the low cost and simple implementation of cloud storage solutions. The region’s Cloud Storage Market is anticipated to rise rapidly due to the growing trend toward cloud-based solutions.
Top Key Companies in Cloud Storage Market:
Some of the key players operating in the Cloud Storage Market are IBM (US), AWS (US), Google (US), Microsoft (US), Alibaba Cloud (China), Huawei Cloud (China), Oracle (US), Rackspace Technology (US), HPE (US), Dell (US), VMware (US), among others.
In September 2023, with the addition of a new feature, Amazon FSx for Windows File Server, Amazon (AWS) now enables its users to select and update the level of I/O operations per second (IOPS) separately from the storage capacity on the file system. Earlier, the IOPS performance level for accessing data on a user’s file Solid State Drive (SSD) storage disks was fixed at a ratio of 3 IOPS per Gigabyte (GB) of storage capacity. Now, customers can configure SSD IOPS independently from storage capacity up to a ratio of 500 IOPS per GB.In September 2023, an MoU signed between Alibaba Cloud and Astra Tech will leverage Alibaba Cloud’s Enterprise Mobile Application Studio (EMAS) mobile testing solution into Botim (which is underway to become an ultra-app) to enhance users’ experience through unparalleled app performance, reliability, and seamless functionality. Botim is the Middle East & North Africa’s leading communications platform.The partnership between both entities where Botim has leveraged Alibaba Cloud’s products and services, including Elastic Compute Service (ECS), storage, networking, and database services.In August 2023, Google Cloud announced a private preview of a parallel file system named Parallelstore that helps users avoid/negate wasting precious GPU resources while parallelly waiting for storage I/O (Input/Output) by providing a high-performing parallel file storage solution for AI/ML and HPC (High-Performance Computing) workloads. The solution is based on the next-generation Intel Distributed Asynchronous Object Storage (DAOS) architecture.In March 2023, the collaboration between IBM and Wasabi aimed to enable enterprises to run applications across any environment, be it on-premises, in the cloud, or at the edge, while allowing users to access and utilize critical business data and analytics in real-time with cost-effectiveness. The Boston Red Sox will be the first to leverage the joint power (collaboration) of IBM Cloud Satellite® and Wasabi hot cloud storage, designed to improve the club’s operations across its entire business unit.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=902
Cloud Storage Market Advantages:
Without the need for extra infrastructure expenditures or hardware upgrades, cloud storage provides scalable storage solutions that let businesses simply adjust storage capacity to meet changing needs.By allowing organisations to pay only for the storage capacity they use on a pay-as-you-go or subscription basis, cloud storage reduces total storage expenses and improves cost predictability. This eliminates the need for upfront capital investments on hardware and maintenance.With cloud storage, users can work remotely, collaborate with others, and share data among dispersed teams from any location with an internet connection using a variety of devices, including computers, smartphones, and tablets.High availability, data durability, and business continuity are guaranteed in the event of hardware malfunctions, natural catastrophes, or other disturbances thanks to cloud storage providers’ redundant architecture and data replication across many data centres.Cloud storage solutions minimise downtime and data loss risks by providing organisations with automatic backup and disaster recovery capabilities. This enables businesses to regularly back up their data and restore it swiftly in case of data loss, corruption, or system failures.Cloud storage providers ensure regulatory compliance and data protection by providing features and tools such as data retention policies, audit logs, and compliance certifications to assist enterprises stay in line with industry regulations and data governance needs.In order to help businesses get more value out of their stored data, cloud storage providers constantly innovate by providing cutting-edge services and features like object storage, file sharing and collaboration, content delivery networks (CDNs), data analytics, machine learning, and artificial intelligence.Report Objectives
To define, describe, and forecast the global Cloud Storage Market based on offering, use case, deployment model, organization size, vertical, and region.To forecast the market size of the five major regional segments: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo strategically analyze the market subsegments for individual growth trends, prospects, and contributions to the total marketTo provide detailed information related to the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)To strategically analyze macro and micro-markets for growth trends, prospects, and their contributions to the overall marketTo analyze industry trends, patents and innovations, and pricing data related to the Cloud Storage Market.To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for major players.To profile key players in the market and comprehensively analyze their market share/ranking and core competenciesTo track and analyze competitive developments, such as mergers & acquisitions, product developments, and partnerships & collaborations in the market.Browse Adjacent Markets: Cloud Computing Market Research Reports & Consulting
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ZTE set to bring brilliant 5G-A highlights to MWC 2024, unfolding the intelligent future
BARCELONA, Spain, Feb. 23, 2024 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, is proud to unveil the highlights of 5G-A during the Mobile World Congress 2024. This initiative aims to unlock the full potential of 5G technology and create infinite value.
Green Infrastructure Pursuing the Bit-Watt Perfect Curve
Industry’s first constant PA efficiency radio platform for optimal performanceThe latest radio platform achieves near-constant PA efficiency, ensuring optimal performance at all times. This enables 25-30 percentage points higher PA efficiency and 35% lower RRU power consumption than the industry average.
0 bit 0 watt with industry-first hibernationThe industry’s first hibernation technology has been deployed at scale across over 300,000 AAUs to reduce the power consumption of AAU to as low as 5 watts when there is no traffic. This technology has also been applied to RRU, helping achieve power consumption as low as 3 watts when there is no traffic. For small cells, hibernation enables 0 watts for pRRUs when there is no traffic, and the cell can be awakened in seconds when there are any attempts of service access.
5G-A B2C: Seamless 10Gbps+ Experiences
Uni-Radio enables site simplification with 10 times fewer radios The Uni-Radio (A+P) achieves extremely simplified integration of 7-bands into 1, with dual-band AAU, the industry’s unique 5-band UBR and FDD full-band antenna, achieving a reduction of radio units from 10 to 1.
Industry-unique 12TR RRU goes extremely green, enabling superior energy efficiencyThe industry-unique dual-band 12TR RRU evolves based on a new platform, achieving near-constant PA efficiency. This enables a 35% lower RRU power consumption than the industry average. With the industry’s first RF pooling, the 12TR RRU enables inter-sector output power sharing. For any given sector, 4*120W can be used as 4x160W, achieving higher power efficiency.
Industry’s highest integration FDD Massive MIMO pushes the 4G capacity envelope even furtherThe tri-band FDD Massive MIMO supports all RATs from 2G to 5G and NB-IoT with an impressive 640W output power in only 115L, achieving up to 6 times throughput improvement. Additionally, AI beamforming enhances FDD Massive MIMO performance by 30%, while the industry-unique beam-level DSS optimizes spectrum utilization, achieving an additional 10% data rate gain.
Industry’s largest bandwidth mmWave AAU empowers 5G-A 10Gbps+ experience The industry’s largest 1.6GHz bandwidth mmWave AAU enables single cell to achieve 28Gbps+ capacity, empowering 10Gbps+ experiences. It serves for diverse scenarios, including fixed wireless access (FWA), large-bandwidth mobile backhaul, and UHD live broadcasting, among others.
5G-A B2B: Network-Cloud Integration, Service Commissioning in One Hour
UniEngine: All-in-one-box private 5G solution for core productionsUniEngine realizes all-in-one integration of 5G core, 5G RAN, and simplified O&M, while providing powerful computing to enable effortless deployment of 3rd party applications. Enhanced deterministic capabilities of RAN offer much improved service guarantees. The simplified O&M significantly assists even less experienced enterprises in rolling out their private 5G networks and enables end-to-end service performance monitoring.
Indoor 5G-A CampSite creates new possibilities for TV broadcasting and VR entertainmentThe suitcase-sized CampSite is easy to deploy by one person. It integrates communication and computing, enabling 5G-A network setup within one hour. Additionally, with the inclusion of MiCell, the industry’s first mmWave distributed micro-cell and IF pooling solution, it achieves 2,500m2 coverage, providing up to 6Gbps downlink or 4Gbps uplink, with ultra-low latency of [email protected]% and high reliability. CampSite facilitates new use cases such as 5G-powered TV broadcasting, wireless large-scale and backpack-free VR entertainment, among others.
5G-A B2X: Boosting the New Economy
Ultra-reliable 5G-A network and edge-cloud integration realize cost-efficient V2X for smart transportationZTE deployed the first 5G-A based vehicle-road-cloud integrated V2X network, empowering autonomous driving and enhancing traffic efficiency. The ultra-reliable network and the edge-cloud at base-station achieve [email protected]% latency, enabling L4 autonomous driving for L2 vehicles at speeds of up to 60km/h.
5G-A NTN realizes universal connectivity through space-ground integrationZTE has developed the industry’s first NTN ground base station and completed the world’s first 5G IoT-NTN direct-to-cell trial over the S-band as well as the industry’s first maritime trial and NR-NTN lab and field trials. These efforts aim to provide capabilities for emergency communication, wide-area IoT, and internet services.
Ubiquitous Intelligence: Achieving All-Round High Efficiency
5G-A BBU, the integration of communication and computation for rich AI applications5G-A BBU achieves seamless integration of communication and computation capabilities. Leveraging its computation capability, base-station native AI enhances RAN intelligence, enabling highly efficient service guarantees to boost traffic, implement more precise power-saving strategies, and facilitate L4 autonomous network O&M. By opening the computation resource open to third parties, cost-efficient app deployment at the base station becomes possible, enriching the range of new applications.
AIGC empowered uSmartNet commercial used during a grand sports event in Asia Based on AIGC and digital twin technology, ZTE’s uSmartNet achieved the industry’s first smart games assurance during the event. This accomplishment resulted in zero major issue and zero major customer complaints, improving operational efficiency by 15% and reducing workload by 30%.
ABOUT ZTE:ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, and its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global
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MIAMI INVESTOR SUMMIT KICKS OFF TODAY WITH GLOBAL LEADERS DISCUSSING HUMANITY’S BIGGEST CHALLENGES
MIAMI, Feb. 23, 2024 /PRNewswire/ — Leading figures from finance, government, business, tech, and innovation are convening to deliberate on a range of pressing economic and public policy issues at FII PRIORITY Miami summit, a major global investor summit, held today and tomorrow at Miami’s Faena Forum.
The summit brings together investors from around the world gathered with CEOs of major global corporations and policy experts to seek workable impactful solution to issues such as the regulation of AI. This year’s theme, ‘On the Edge of a New Frontier,’ reflects the profound changes the world is experiencing as technology transforms society and economies.
Richard Attias, CEO of FII Institute, said,”Today’s conversations reflected a sense of urgency as the world grapples with what to do about AI, political uncertainty, and changes in the shape of the global economy. And we bring these conversations to Miami—the new America—so we can chart a steadfast course towards a prosperous future, fully equipped with the insights and knowledge we need, harnessing the power of collective work and thought.”
In his opening conversation, H.E. Yasir Al-Rumayyan, Public Investment Fund Governor and Future Investment Initiative (FII) Institute Chairman, underscored the role of AI and its key contribution to future economies, saying “Al is coming in a big way! The impact will be very positive as soon as we have regulations in place to monitor, control, and enable this technology. AI could increase global GDP by 14%.”
Michael Dell, Chairman and CEO of Dell Technologies, addressed the issue of AI regulation, and how CEOs can innovate through periods of extreme volatility and pivot towards future trends, adding “regulations will struggle to match the rapid pace of technological change and may be outdated within a year. We have to ensure that emerging technologies reflect humanity and our system of values and beliefs.”
The summit’s much anticipated roundtable of global CEOs, entitled the “Board of Changemakers,” discussed trends and economic outlook. Participating in this year’s roundtable were Pamela Liebman, President and CEO of The Corcoran Group; Pierre Beaudion, Chairman of the Board of Bombardier Inc; Jenny Johnson, President and CEO of Franklin Templeton; Marcello Claure, Founder and CEO of Claure Group; and Stephen A. Schwarzman, Co-Founder, Chairman & CEO of The Blackstone Group. The session underscored the impact of digitalization, particularly blockchain and AI, on future investments, advocating for regulation and ethical usage. The members of the board also highlighted AI’s massive role in increasing efficiency and how AI can be harnessed to resolve climate change issues.
Mike Pompeo, 70th Secretary of State of the United States and Executive Chairman of Impact Investments, addressed the economic consequences of conflict, saying: “in the economic sphere, the connectivity between the things happening geopolitically is now ever more closely tied to thinking about investments and capital flows. It is impossible to separate geopolitical risk from capital allocation.”
Conclave sessions were held for select senior participants to delve into the concerns relevant to their sectors with full transparency. For example, the conclave on AI convened many leading figures involved in the development of technologies, governance of AI, technology investment, and regulation, with a number of global initiatives on AI regulation presented
A special address by former Treasury Secretary Dr. Lawrence H. Summers, Charles W. Eliot University Professor & President Emeritus at Harvard University, and board member at OpenAI, highlighted economic and political contexts, including prospects for soft or hard economic landing, and likely outcomes of the US election. Dr. Summers was joined by Eric Schmidt, co-founder of Schmidt Fututes, who noted that AI is likely to double everyone’s productivity, underscoring the importance of AI regulation, he added “there are questions about what happens when computers start to make decisions.”
FII Institute’s Founding Partner is the Public Investment Fund of Saudi Arabia, which, alongside the Vision Partner, the Ministry of Investment of Saudi Arabia, and 26 international strategic partners are actively involved in the ongoing work of the institute. The FII Institute welcomed two new strategic partners at the summit: ACWA Power and Franklin Templeton. Speakers from strategic partners Franklin Templeton, GFH, HSBC, NEOM, ROSHN, Sanabil, Softbank, and State Street shared updates on their international projects relevant to the themes of the summit.
Notes to EditorFor media inquiries, please contact:Phone: +966 53 978 2030Email: [email protected]
The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
The FII PRIORITY Miami summit continues conversations held in Hong Kong and Riyadh in Autumn 2023. It is part of an ongoing global program of summits held throughout the year, with upcoming summits in Rio de Janeiro in June and Asia later in the year.
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Securitas issues a MEUR 500 Eurobond
STOCKHOLM, Feb. 23, 2024 /PRNewswire/ — Securitas has today successfully closed a MEUR 500 bond in the Eurobond market with maturity in 2030. The coupon was 3.875 percent including a margin of 115 basis points.
The proceeds will mainly be used to refinance existing debt.
The joint lead managers were BofA Securities, CIC, Commerzbank, Danske Bank, DNB and UniCredit.
Investors: Micaela Sjökvist, Vice President, Investor Relations, +46 76 116 7443, [email protected]
The following files are available for download:
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