Global Public Cloud Storage Services Market: Overview
Public cloud storage services is largely the province of developers, who have utilized the service as a pay-as-you-go resource and cost-effective to park data for specific projects. Public cloud storage services allow many users in data storing on a server which is located remotely. This service is hosted by a service provider, which is considered safe from various catastrophic failures such as earthquake, tsunamis, and fire.
Daily transactional information has become a huge challenge for several companies in storing ample amount of data. The remote access facility through the internet in cloud storage services provide a huge advantage to several companies. All such advantages are majorly driving the global public cloud storage services market.
Public cloud storage services are mainly the commercially available service over the internet which is completely different than private clouds where the service is restricted to specific entities or organization. The global public cloud storage services market is majorly fueled by rising demand for data security, need for low cost security services, and soaring demand for easy to access services.
Moreover, various emerging back-up mechanisms and enormous demand for safety from several catastrophic failures are also providing a major impetus to the growth of the global public cloud storage services market. However, several countries like China and India are the emerging IT hubs who are working effectively on the public cloud storage systems, thus, a lot of cloud-based applications are expected in the near future. Such factors are also fueling demand in the global public cloud storage services market.
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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 ServicesMarket: 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 dont 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.
Public Cloud Storage ServicesMarket: Segmentation
Segmentation on the basis of service: Software-as-a-Service Infrastructure-as-a-Service
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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 ServicesMarket: 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.
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