A Research and Markets report predicts that the market for cloud storage products will reach a value of $65.41 billion in 2020 from $18.87 billion in 2015, at a compound annual growth rate of 28.22 percent.
The company said Sept. 3 the growing adoption of cloud storage gateways and demand for big data storage will drive market growth over the five-year forecast period.
According to Research and Markets, its report also discusses the key trends, “growth potential” submarkets, current and upcoming players, and the challenges and opportunities in the cloud storage market.
The report identified the following cloud storage vendors as pioneer players:
- Amazon Web Services