Today: November 26, 2015, 1:29 pm

Global cloud-based storage market: 36.4% CAGR growth forecast between 2012-63
Global Cloud-based Storage Market 2012-2016 - a new market research report on 2014-03-31 00:18:03
The Global Cloud-based Storage market is to grow at a CAGR of 36.41 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rapid increase in the adoption of tablets and smartphones. The Global Cloud-based Storage market has also been witnessing the increasing number of vendors leading to decreasing costs. However, the growing concern on data security in the network could pose a challenge to the growth of this market.

The Global Cloud-based Storage market is witnessing a number of new vendors entering the market and providing cloud-based storage solutions. With the entry of new vendors such as Huawei Technologies Co. Ltd., Egnyte Inc., and Samsung Electronics Co. Ltd., there is increasing competition among vendors resulting in decrease of prices of cloud-based storage solutions. Further, there are many storage equipment vendors that are entering into partnerships with cloud-based service providers to develop cloud-based storage solutions which can meet end-user requirements. Large storage infrastructures are being established to meet growing cloud computing and cloud-based storage requirements.

One of the major drivers is the rapid increase in the adoption of tablets and smartphones for enterprise computing and for accessing enterprise applications. End-users are storing their photos, videos, and music content over the cloud storage infrastructure which is driving higher demand for cloud-based storage solutions.

One of the major challenges is a growing concern for the security of data in the network. Enterprise data security is a major concern for enterprises that are storing their data over the cloud storage infrastructure. The cloud-based storage service providers are incorporating advanced security measures which ensure the safety of the data.

The key vendors dominating this market space are Inc., EMC Corp., Google Inc., and Microsoft Corp. Other vendors are Apple Inc., Autonomy Inc., Box Inc., Dropbox Inc., Hitachi Ltd., IBM Corp., Nirvanix Inc., and Rackspace Hosting Inc.

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