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Global Cloud Object Storage Market Insight 2022-01-26 Comments

Global Cloud Object Storage Market has witnessed growing treads over the five years. According to the World Knowledge Information (WKI) Global Cloud Object Storage Market Report 2020, Forecast to 2025. The compound annual growth rate (CAGR) for the 2020-2026 period is projected to be 12.37% base on WKI regression analysis model. With the continuous increase in capital expenditure and management and operation expenditure, from self-built to cloud is the trend,
Cloud Object Storage market is expected to have a good take off. Due to the further outbreak of the COVID-19 epidemic, people’s travel is restricted, and enterprises have begun to adopt remote office, which has further accelerated the popularization of cloud objects storage applications.
“The popularization of the Cloud Object Storage is a relatively long process, and consumers still have great doubts about its safety.” said Wikky, Senior analyst, Cloud Storage Market Research Center in WKI. While market participants are pursuing the functional diversity of Cloud Object Storage, they must also fully consider its reliability, price, simplicity and fault handling capability.
According to WKI cloud market research report. Affected by the COVID-19 in 2020, the real
economy has received a very serious impact, In sharp contrast,the overall increase of cloud-type products is 35%. During the COVID-19 pandemic, everyone works from home, and through cloud storage, users only need to upload company files to the client. Users can edit the files stored on the client on any computer through the client. Greatly improve the efficiency of processing office. Moreover, the risk of losing files stored on the cloud is very small. Files can be recovered from a cloud account. This feature increases the market’s preference for cloud object storage.
The market is monopolized by large companies and these participants have a large customer base. Leading companies had a great influence on the market, because most companies are located all over the world. Some leading companies will be included in our report: Google,Amazon,Huawei and others.
In the cloud market share, Hybrid cloud integrates public cloud and private cloud, and is the main model and development direction of cloud computing in recent years. For security reasons, companies are more willing to store data in private clouds and hope to obtain computing resources from public clouds. In this case, hybrid clouds are more and more adopted, mixing and matching public and private clouds. To get the best results, this personalized solution is the best choice for many companies. So, hybrid cloud accounts for the vast majority and private cloud accounts for the smallest proportion.
The Asia-Pacific region occupies a considerable part of the cloud object storage market, represented by China and Japan. With the popularity of 5G mobile phones in the Asia-Pacific region, cloud objects storage market share is expected to increase again and maintain its leading position.