Public Cloud Storage Services Market – Growth, Demand and Key Players to 2027

Public cloud storage services are cost-effective and offer scalability, reliability and performance benefits. Using public cloud storage services lets organizations offload management tasks and the costs associated with supporting physical hardware to an external provider. An organization’s data is stored in the provider’s data center and the provider manages and maintains all facets of the data center, including power, cooling and server maintenance. As a result, organizations don’t have to worry about archive planning, implementing security practices or conducting resource planning for future data growth.

Public cloud storage services are also cost-effective; organizations pay only for the resources they use. Public cloud storage services provides a scalable and agile environment for businesses to increase or decrease storage on demand. Organizations use the public cloud to store both structured and unstructured data. Many applications that have made their way to the cloud — such as those that use back-end databases or structured data — handle data from applications that tie directly into cloud database services. This type of cloud storage environment is appealing to companies that are either just starting out and don’t want to purchase hardware or that are looking for scalable storage that doesn’t require a large capital expenditure.

Public Cloud Storage Services Market: Drivers and Challenges

Few of the major driving factors of public cloud storage services market are that the companies that are just starting out, need not worry about the expenses involved in maintaining their own data center. These companies can take public cloud storage services on rent from any of the providers of cloud storage services. In addition to this, the companies need to pay only as per their usage at the end of the month, once they have availed the cloud storage services, hence they don’t need to invest beforehand. Also, customer can select the media type, volume size, and maximum IOPS and throughput per volume and per instance depending upon their requirement. Hence the public cloud storage services vendors offers flexibility in choosing a plan, which makes it easier for the customers/enterprises to avail services as per their requirement.

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Public Cloud Storage Services Market: Segmentation

Segmentation on the basis of service:

• Software-as-a-Service
• Infrastructure-as-a-Service

Segmentation on the basis of enterprise:

• SMEs
• Large scale Enterprises

Segmentation on the basis of vertical:

• BFSI
• IT & Telecommunications
• Government & Defense
• Transportation
• Manufacturing
• Healthcare
• Retail
• Energy & Utilities
• Others 

Public Cloud Storage Services Market: Key Market Players

Few of the companies in Public Cloud Storage Services market are: Amazon Web Services, Alibaba Group Holding Limited, AT&T, Google, Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Verizon Enterprise and Rackspace Inc. These companies are focused towards innovating and enhancing their existing solutions in order to increase their market share in Public Cloud Storage Services market.