Cloud and Internet of Things (IoT) Storage Technologies Market size was valued at USD 88 Billion in 2024 and is forecasted to grow at a CAGR of 7.3% from 2026 to 2033, reaching USD 164 Billion by 2033.
The global Cloud and Internet of Things (IoT) Storage Technologies Market was valued at USD 58.4 billion in 2022 and is projected to grow at a CAGR of 21.5% from 2023 to 2030. The market is driven by increasing adoption of cloud computing and the rapid expansion of IoT applications across various industries. As businesses increasingly rely on data generation and real-time analytics, the demand for scalable and flexible storage solutions is growing significantly. North America dominates the market, accounting for 35% of the global share in 2022, driven by a strong presence of major tech companies and early adoption of advanced storage technologies. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, with a CAGR of 24.7%, as countries like China and India focus on smart city projects, industrial automation, and IoT integration in everyday life, increasing the need for efficient data storage solutions. Europe is also contributing significantly to the market due to the growing adoption of IoT-enabled services and the rapid digital transformation of industries.
The Cloud and IoT storage technologies market is witnessing substantial growth opportunities across regions. The rising demand for connected devices and automation technologies in sectors such as manufacturing, healthcare, transportation, and retail is creating a surge in data storage needs. The expansion of 5G networks is further propelling the growth, enabling faster and more efficient data transfer, thus increasing the need for reliable storage solutions. Additionally, the development of edge computing technologies is fostering the need for localized storage systems in regions with high data volume and latency-sensitive applications. With rising government initiatives and digital infrastructure developments in regions like Asia Pacific and Latin America, the market for IoT and cloud storage is expected to continue its upward trajectory, presenting lucrative opportunities for both new and established players.
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AT&T
BMC Software
Cisco Systems Inc.
Dell
Fogo Data Centers
Global Switch
Hewlett-Packard Enterprise Co.
IBM Group Ltd.
Juniper Networks
Lenovo
NEC
Pure Storage
Oracle Corp.
SanDisk
Toshiba Storage Products
Violin Memory
Western Digital Corp.
Expedient
Seagate Technology Co.
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Cloud and Internet of Things (IoT) Storage Technologies Market
Public Cloud
Private Cloud
Hybrid Cloud
Multi-Cloud
Object Storage
Block Storage
File Storage
Database Storage
Smart Home Solutions
Wearable Devices
Smart Cities
Industrial IoT
Healthcare IoT
Manufacturing
Healthcare
Transportation and Logistics
Retail
Energy and Utilities
Cloud Storage Services
Backup and Archiving Services
Data Recovery Services
Data Management Services
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Cloud and Internet of Things (IoT) Storage Technologies Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Cloud and Internet of Things (IoT) Storage Technologies Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Cloud and Internet of Things (IoT) Storage Technologies Market, By Type
6. Global Cloud and Internet of Things (IoT) Storage Technologies Market, By Application
7. Global Cloud and Internet of Things (IoT) Storage Technologies Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Cloud and Internet of Things (IoT) Storage Technologies Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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