Cloud Video Storage Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cloud Video Storage Market
The Cloud Video Storage Market Size was valued at USD 8.63 billion in 2023, and the Market is now projected to grow from USD 10.28 billion in 2024 to USD 49.75 billion by 2032, exhibiting a CAGR of 21.8% during the forecast period of 2024-2032.
The COVID-19 pandemic has hugely influenced the demand and market dynamics of cloud video storage thereby transforming the industry massively. Some of the considerations driving this change are; the rise in distributed workforce, rise in the use of digital media content, and the emerging increased reliance on cloud environments for business operations during disruption. Contrary to the pre-pandemic era, remote work became prominent and demanded efficient, secure, and easily scalable cloud storage solutions to accommodate the amount of video and other content created within online meetings, webinars, and other activities, impeding the rise of Cloud Video Storage Market Growth.
The demand for Cloud Video Storage has risen due to the Increased Remote Work and Digital Transformation, resulting in the expansion of Cloud Video Storage Market share globally. A continued focus on remote work due to the COVID-19 emergency necessitated increased utilization of cloud storage to facilitate the easy handling and sharing of video content. Companies needed the storage to accommodate more videos from virtual meetings, webinars, and other online activities that people got used to because of the pandemic. Since the agreements allowed flexible working and, as a result, employees could be located in different parts of the country or even the world, organizations were in search of the means to maintain efficient cooperation within their teams. Social sharing also makes it easier to share video files, “Cloud video storage allows the users to share the project and access it at the same time from any place in the world.” These features made the work more accessible and promoted collaboration, which are crucial in teleworking setup.
Additionally, There is an increase in the use of storage solutions that combine facilities and the cloud. This approach provides advantages of cloud storage including cost efficiency, ease of access, and flexibility while maintaining critical data from being stored in the cloud. To meet this need, primary cloud players like Microsoft Azure and AWS are rebuilding their hybrid cloud capabilities.
Comprehensive Analysis of Cloud Video Storage Market
The Cloud Video Storage Market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Information & Communication Technology Industry. These Segmentations are methodically segregated by Deployment and by Application. The Deployment includes Public, Private, and Hybrid. However, the Application includes BFSI, IT & Telecom, Government, Manufacturing, Healthcare and Life Science, Retail and Consumer Goods, Media and Entertainment, and others.
The North American region leads the Cloud Video Storage Market by benefitting a market size of USD 3.09 billion in 2023 due to the availability of a well-developed system of information and communications technologies. This region consists of many technology markets globally prominent ones are AWS (Amazon Web Services), Microsoft Azure, and Google Cloud. These companies have spent a considerable amount of money on developing sophisticated modern data centers and cloud infrastructures that create a robust platform for cloud video storage services.
The top players in the market play a crucial role in the Information & Communication Technology Industry assuring industrial prospectus growth and setting market standards. These players include Google LLC (US), Dropbox, Inc. (US), Amazon Web Services, Inc. (US), Oracle Corporation (US), Microsoft Corporation (US), pCloud AG (Switzerland), BOX, Inc. (US), Dell Technologies, Inc. (US), VMware, Inc. (US), IBM Corporation (US. These market players provide a level playing competitive landscape.
In December 2023, Knowledge management technology company, Augmedix, revealed that it has integrated Google Cloud’s MedLM Technology to its operations. The following of this technology applies the current advancements in AI applied to the healthcare settings as well as complies with the established requirements that define AI safety, security, and universality for large corporations.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 21.8% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Deployment
Public
Private
Hybrid
By Application
BFSI
IT & Telecom
Government and
Manufacturing
Healthcare and Life Science
Retail and Consumer Goods
Media and Entertainment
Others
By Region
North America (By Deployment, Application, and Country)
- U.S.
- Canada
- Mexico
South America (By Deployment, Application, and Country)
- Brazil
- Argentina
- Rest of South America
Europe (By Deployment, Application, and Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
Middle East & Africa (By Deployment, Application, and Country)
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
Asia Pacific (By Deployment, Application, and Country)
- China
- Japan
- India
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Cloud Video Storage Key Players Market Share/Ranking, 2023
- 5. Global Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Deployment (USD)
- 5.2.1. Public
- 5.2.2. Private
- 5.2.3. Hybrid
- 5.3. By Application (USD)
- 5.3.1. BFSI
- 5.3.2. IT & Telecom
- 5.3.3. Government and Public Sector
- 5.3.4. Manufacturing
- 5.3.5. Healthcare and Life Science
- 5.3.6. Retail & Consumer Goods
- 5.3.7. Media & Entertainment
- 5.3.8. Others
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Deployment (USD)
- 6.2.1. Public
- 6.2.2. Private
- 6.2.3. Hybrid
- 6.3. By Application (USD)
- 6.3.1. BFSI
- 6.3.2. IT & Telecom
- 6.3.3. Government and Public Sector
- 6.3.4. Manufacturing
- 6.3.5. Healthcare and Life Science
- 6.3.6. Retail & Consumer Goods
- 6.3.7. Media & Entertainment
- 6.3.8. Others
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.2. Canada
- 6.4.3. Mexico
- 7. South America Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Deployment (USD)
- 7.2.1. Public
- 7.2.2. Private
- 7.2.3. Hybrid
- 7.3. By Application (USD)
- 7.3.1. BFSI
- 7.3.2. IT & Telecom
- 7.3.3. Government and Public Sector
- 7.3.4. Manufacturing
- 7.3.5. Healthcare and Life Science
- 7.3.6. Retail & Consumer Goods
- 7.3.7. Media & Entertainment
- 7.3.8. Others
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.2. Argentina
- 7.4.3. Rest of South America
- 8. Europe Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Deployment (USD)
- 8.2.1. Public
- 8.2.2. Private
- 8.2.3. Hybrid
- 8.3. By Application (USD)
- 8.3.1. BFSI
- 8.3.2. IT & Telecom
- 8.3.3. Government and Public Sector
- 8.3.4. Manufacturing
- 8.3.5. Healthcare and Life Science
- 8.3.6. Retail & Consumer Goods
- 8.3.7. Media & Entertainment
- 8.3.8. Others
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Benelux
- 8.4.8. Nordics
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Deployment (USD)
- 9.2.1. Public
- 9.2.2. Private
- 9.2.3. Hybrid
- 9.3. By Application (USD)
- 9.3.1. BFSI
- 9.3.2. IT & Telecom
- 9.3.3. Government and Public Sector
- 9.3.4. Manufacturing
- 9.3.5. Healthcare and Life Science
- 9.3.6. Retail & Consumer Goods
- 9.3.7. Media & Entertainment
- 9.3.8. Others
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.2. Israel
- 9.4.3. GCC
- 9.4.4. North Africa
- 9.4.5. South Africa
- 9.4.6. Rest of MEA
- 10. Asia Pacific Cloud Video Storage Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Deployment (USD)
- 10.2.1. Public
- 10.2.2. Private
- 10.2.3. Hybrid
- 10.3. By Application (USD)
- 10.3.1. BFSI
- 10.3.2. IT & Telecom
- 10.3.3. Government and Public Sector
- 10.3.4. Manufacturing
- 10.3.5. Healthcare and Life Science
- 10.3.6. Retail & Consumer Goods
- 10.3.7. Media & Entertainment
- 10.3.8. Others
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.2. India
- 10.4.3. Japan
- 10.4.4. South Korea
- 10.4.5. ASEAN
- 10.4.6. Oceania
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Google LLC
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Dropbox, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Amazon Web Services, Inc.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Oracle Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Microsoft Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. pCloud AG
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. BOX, Inc.
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Dell Technologies, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. VMware, Inc.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. IBM Corporation
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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