Cloud Storage - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)

Cloud Storage Market Analysis

The cloud storage market size reached USD 145.23 billion in 2025 and is forecast to reach USD 425.76 billion by 2030 at a 24.0% CAGR. Generative-AI adoption, data-sovereignty mandates, and the need for modern, energy-efficient infrastructure are accelerating enterprise migration and reshaping storage architectures worldwide. Intensifying hyperscaler investment, rising sovereign-cloud spend across Asia Pacific, and steady SME adoption are widening the global addressable base while inflation-linked construction costs spur innovation in low-power technologies. Object storage dominates AI workloads, hybrid deployment grows fastest, and Asia Pacific leads regional expansion. Competitive rivalry remains high as providers pursue AI-optimized capacity, sovereign-cloud zones, and carbon-aware services.

Global Cloud Storage Market Trends and Insights

Gen-AI-led data explosion in knowledge-worker apps (2025+)

Generative-AI workloads are multiplying enterprise data volumes by an order of magnitude. Solid-state drive demand for AI training environments is climbing 35% per year as spinning disks struggle to meet latency targets. Storage footprints for single training runs are set to scale from 30 TB in 2025 to 100 TB by 2030, while inference nodes grow even faster as new products embed AI features. Cost models now reveal that data-handling charges eclipse model-development expenses, pushing vendors to optimize tiering and compression. Hyperscalers are redesigning storage layers to favor high-throughput NVM-based clusters and object storage buckets tuned for parallel access.

Edge-to-cloud workflow acceleration in media and gaming

Media and gaming studios are embracing cloud-first pipelines; 97% plan to raise storage budgets in 2025 as streaming and real-time rendering expand. Cloud gaming’s 44% CAGR requires distributed caches that maintain <50 ms latency across regions. Yet, these firms spend 51% of storage budgets on API calls and egress traffic, catalyzing multi-cloud placement to avoid fees. Edge-compute spend is forecast at USD 232 billion in 2024, pushing providers to integrate on-premise gateways with hyperscale archives for seamless asset flows.

Persistent data-sovereignty complexity

Divergent regulations—from the U.S. CLOUD Act to China’s cross-border flow rules—force organizations to operate fragmented storage footprints and duplicate datasets to meet local statutes. Legal uncertainty raises compliance spend and slows global rollouts as firms navigate overlapping jurisdictional claims.

Other drivers and restraints analyzed in the detailed report include:

1. Government stimulus for sovereign cloud frameworks
2. ESG-driven storage optimization and carbon-aware workloads
3. Escalating egress-fee backlash and vendor lock-in risk

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

The segment’s revenue in 2024 reflected a 59.0% public-cloud lead, yet hybrid architectures are on track for a 26.01% CAGR to 2030 as data residency laws tighten. Enterprises blend on-premise nodes with public scalability to meet latency and compliance goals. Governments’ sovereign frameworks further propel hybrid demand, while edge investments embed micro-regions into unified pools. Hybrid environments now manage 82% of enterprise workloads, validating the shift away from all-public strategies.

A second growth vector lies in AI training clusters that require local GPU adjacency for throughput yet still need cloud bursts for spikes. Organizations adopt control-plane software to orchestrate policies across sites, mitigating lock-in and optimizing cost. Vendors differentiate via integrated observability, automated data-tiering, and marketplace ecosystems. As budgets reallocate, the cloud storage market will see deployment models converge into fluid, policy-driven fabrics spanning core, edge, and sovereign zones.

Object repositories generated 51.2% revenue in 2024 and will compound at 25.0% through 2030 as unstructured data explodes. The cloud storage market size for object platforms benefits from intrinsic scalability, rich metadata, and erasure-coding economics that align with generative-AI corpus needs. File and block tiers persist for legacy and OLTP workloads but cede share to object layers hardened for petabyte-scale parallel access.

Innovation centers on multi-tenant namespace isolation, in-line encryption, and GPU-direct pipelines that feed training nodes without staging. Micron’s roll-out of 32 TB NVMe SSDs underscores the migration toward flash-based object clusters. Patent filings reveal advances in erasure-coded caching and distributed-hash indexing, amplifying performance and durability. As AI adoption broadens, object storage will underpin content, model checkpoints, and vector databases within the cloud storage market.

The Cloud Storage Market Report is Segmented by Deployment Mode (Private Cloud, Public Cloud, and More), Storage Type (File Storage, Object Storage, and More), Enterprise Size (SMEs and Large Enterprises), Application (Backup and Recovery, Application Management, and More), End-User Industry (BFSI, Manufacturing, Retail and E-Commerce, and More), and Geography.

Geography Analysis

North America held 38.0% revenue in 2024 as hyperscaler headquarters and early AI adoption drove demand. Data-center power needs are on a 16% annual trajectory to 2028, though transmission bottlenecks and permitting delays pressure timelines. Regulatory proposals such as cloud know-your-customer (KYC) checks may fragment cross-border workflows, nudging enterprises toward multi-region architectures. Hardware shortages intermittently constrain capacity, but continuous investment sustains leadership in innovation and spend.

Asia Pacific is the growth engine, charting a 24.98% CAGR courtesy of government digitization programs, sovereign-cloud mandates, and rising AI adoption. China’s spending will hit USD 46 billion in 2025, buoyed by local vendors and policy support. India’s services market reached USD 5.2 billion in H1 2024 and targets USD 25.5 billion by 2028. Australia and Japan advance localized frameworks, while a 13.3% CAGR in regional data-center capacity underscores the build-out of residency-compliant zones.

Europe grows steadily under GDPR, with sectoral codes pushing encryption and data-minimization features. Latin America’s colocation pipeline could reach USD 10 billion by 2029 as Brazil, Mexico, and Chile court hyperscaler investment. Africa’s demand rises 25-30% annually, yet represents <1% global revenue; local providers differentiate on price and currency flexibility. These dynamics confirm a multipolar cloud storage market where regional ecosystems coexist with global connectivity.

List of Companies Covered in this Report:

1. Amazon Web Services Inc.
2. Microsoft Corporation
3. Google LLC (Alphabet)
4. Alibaba Cloud (Alibaba Group)
5. IBM Corporation
6. Oracle Corporation
7. Dell Technologies Inc.
8. Hewlett Packard Enterprise
9. NetApp Inc.
10. Dropbox Inc.
11. Box Inc.
12. Wasabi Technologies
13. Backblaze Inc.
14. Tencent Cloud
15. OVHcloud
16. Rackspace Technology
17. Hitachi Vantara
18. Fujitsu Limited
19. pCloud AG
20. Tresorit AG
21. Iron Mountain

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support