Multi Cloud Storage Market Soars to Remarkable Heights, Anticipated to Hit US$ 111,326.6 Million by 2032 with a Robust 16.7% CAGR

Multi Cloud Storage Market

The global multi-cloud storage market is projected to reach a value of approximately US$ 111,326.6 million by the year 2032. This is a significant increase from its value of US$ 23,711.4 million in 2022. The market is expected to grow at a CAGR of 16.7% throughout the forecast period.

Several enterprises are expected to increase the adoption of multi-cloud storage owing to using numerous cloud environments to satisfy business requirements and concerns over increasing data loss. However, there are challenges associated with redesigning the network for the cloud, as well as a prevailing lack of adequate expertise, which are factors expected to hamper the market growth.

Multi-cloud storage can be used by web providers, enterprises, and other businesses in order to minimize the risk of data loss and also it helps to improve the quality of service. Multi-cloud storage offers several functions for storing and retrieving data and they are widely used as a shared storage solution for distributed applications.

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The multi-cloud storage helps organizations to adopt changing IT environments to minimize cost and to reduce the need for hardware and appliances.

Multi-Cloud Storage Market: Drivers and Challenges

The heavy adoption of emerging cloud-based platform-as-a- service (Paas) by several enterprises is one of the major factors driving the multi-cloud storage market. Multi-cloud storage provides easy access to end users working on different platforms.

The implementation of multiple cloud services is increasing as it helps to reduce dependency on a single vendor. The multi-cloud application management storage platform helps the organization to improve its overall performance by means of different infrastructure services to fulfill the computing needs of its users.

Integration issues of multi-cloud storage is one of the major restraints faced by the multi-cloud storage market.

Multi-Cloud Storage Market: Regional Overview

Presently, the North America region is holding the largest market share of multi cloud storage market followed by European and APAC region. In this region, Multi cloud storage market is growing gradually owing to the adoption of various cloud storage platforms and services by small and large-scale enterprises.

Leading Key Players:

  • SAP SE
  • AWS
  • Gosun Technology
  • Nasuni
  • Qumulo
  • Hewlett Packard Enterprise (HPE)
  • EMC
  • Flexera Software LLC
  • International Business Machines Corporation
  • Jamcracker Inc.
  • Concierto. cloud
  • UnityOneCloud
  • VMware Inc.

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Multi-Cloud Storage Market Segmentation:

By Deployment Type:

  • Public
  • Private
  • Hybrid

By Enterprise Size:

  • SMEs
  • Large Enterprises

By Verticals:

  • BFSI
  • Retail
  • Energy & Utility
  • Healthcare & Life Sciences

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa(MEA)
  • Europe

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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