The cloud object storage market size has grown rapidly in recent years. It will grow from $8.14 billion in 2024 to $9.49 billion in 2025 at a compound annual growth rate (CAGR) of 16.7%. The growth in the historic period can be attributed to data explosions, the adoption of cloud computing, cost-effectiveness, disaster recovery and business continuity, regulatory compliance, globalization, and remote work.
The cloud object storage market size is expected to see rapid growth in the next few years. It will grow to $17.43 billion in 2029 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to 5G adoption, data sovereignty laws, hybrid and multi-cloud strategies, cybersecurity concerns, blockchain technology, sustainability initiatives, digital transformation, Internet of Things (IoT), data monetization, continued technological innovations, market competition. Major trends in the forecast period include the adoption of hybrid cloud solutions, scalable and cost-effective storage solutions, emphasis on data security and compliance, integration of advanced technologies, and expansion of object storage capabilities for diverse use cases.
An upward trend in data volume is poised to drive the expansion of the cloud object storage market. Data volume denotes the quantity of data stored, processed, or transmitted within a given system, network, or storage medium. This surge in data volume is chiefly propelled by the widespread adoption of internet-connected devices, digital services, and the escalating utilization of data-intensive technologies such as artificial intelligence and IoT. Cloud object storage emerges as a pivotal solution for managing this escalating data volume due to its scalability, cost-effectiveness, and accessibility, particularly for handling vast amounts of unstructured data generated by contemporary digital technologies. For example, as per a report by The Linux Foundation, data growth for an average end-user organization surged to 2,208 TB in 2022, marking a 215.43% increase from the 700 TB recorded in 2021, thereby illustrating the driving force behind the growth of the cloud object storage market.
Prominent players in the cloud object storage sector are directing their efforts toward developing high-performance object storage solutions equipped with advanced features such as key management servers and data firewalls. These features play a crucial role in meeting the escalating demand for efficient and dependable storage solutions within the cloud environment. Key management servers and data firewalls are integral components that securely manage cryptographic keys and enforce access control policies, safeguarding sensitive data against unauthorized access or breaches. For instance, in March 2024, MinIO, a leading US-based high-performance object storage system, unveiled the MinIO Enterprise Object Store tailored for commercial clients aiming for streamlined creation and management of exabyte-scale data infrastructure. Leveraging MinIO's expertise in object storage, this new solution is purpose-built to address the performance and scalability requirements posed by extensive AI workloads. MinIO's Enterprise solutions streamline object storage management through features such as the Catalog for efficient metadata search, Cache for high-performance AI workloads, and Observability for comprehensive system monitoring, ensuring seamless operations and compliance adherence.
In January 2022, DataCore Software, a prominent US-based developer of software-defined storage, acquired Object Matrix, a UK-based software company specializing in object storage, hybrid solutions, and cloud storage. This strategic acquisition aligns with DataCore's vision of DataCore.NEXT, enhancing the customer journey across core, edge, and cloud environments. By integrating periphery and Object Matrix solutions, DataCore aims to optimize storage resource utilization, overcome technological barriers, and deliver superior outcomes at reduced costs, thereby driving innovation and growth in the cloud object storage market.
Major companies operating in the cloud object storage market are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., Hitachi Vantara LLC, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, NetApp Inc., Iron Mountain Incorporated, Rackspace Technology Inc., Box Inc., Alibaba Cloud Computing Co. Ltd., International Data Corporation, Quantum Corporation, DataDirect Networks Inc., Backblaze Inc., Cloudian Inc., Scality Inc., Wasabi Technologies Inc., Zadara Storage Inc., Caringo Inc., MinIO Inc., Aruba S.p.A., Elastifile Inc., OSNEXUS Corporation.
North America was the largest region in the cloud object storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud object storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud object storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Cloud object storage is a form of data storage offered by cloud computing platforms, storing data as objects within a flat hierarchy, typically accessed via HTTP or API calls. This type of storage provides scalability, durability, and flexibility for large volumes of unstructured data such as images, videos, and backups.
Cloud object storage services encompass professional and managed services. Professional services involve specialized assistance from experts in designing, implementing, and optimizing cloud storage solutions across public, private, and hybrid cloud setups, catering to organizations of varying sizes from large enterprises to SMEs. These services are utilized by end users such as social media platforms, BFSI, IT and telecom, healthcare, and others.
The cloud object storage market research report is one of a series of new reports that provides cloud object storage market statistics, including cloud object storage industry global market size, regional shares, competitors with an cloud object storage market share, detailed cloud object storage market segments, market trends and opportunities, and any further data you may need to thrive in the cloud object storage industry. This cloud object storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cloud object storage market consists of revenues earned by entities by providing services such as data storage, data management, backup and archiving, disaster recovery, data security, data analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The cloud object storage market also includes sales of storage gateway appliances, security and compliance solutions, and third-party cloud management platforms. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Cloud Object Storage Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cloud object storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for cloud object storage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cloud object storage market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include: the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Service: Professional Services; Managed Services2) By Deployment: Public Cloud; Private Cloud; Hybrid Cloud
3) By Organization Size: Large Enterprises; Small and Medium Enterprises (SMEs)
4) By End User: Social Media Platforms; Banking, Financial Services, and Insurance (BFSI); Information Technology and Telecommunication; Healthcare; Others End Users
Subsegments:
1) By Professional Services: Consulting Services; Integration Services; Implementation Services; Training and Support Services2) By Managed Services: Data Backup and Recovery; Cloud Storage Monitoring; Cloud Storage Optimization; Security and Compliance Management
Key Companies Mentioned: Google LLC; Microsoft Corporation; Dell Technologies Inc.; Amazon Web Services Inc.; Hitachi Vantara LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies featured in this Cloud Object Storage market report include:- Google LLC
- Microsoft Corporation
- Dell Technologies Inc.
- Amazon Web Services Inc.
- Hitachi Vantara LLC
- International Business Machines Corporation
- Oracle Corporation
- Fujitsu Limited
- Hewlett Packard Enterprise Company
- NetApp Inc.
- Iron Mountain Incorporated
- Rackspace Technology Inc.
- Box Inc.
- Alibaba Cloud Computing Co. Ltd.
- International Data Corporation
- Quantum Corporation
- DataDirect Networks Inc.
- Backblaze Inc.
- Cloudian Inc.
- Scality Inc.
- Wasabi Technologies Inc.
- Zadara Storage Inc.
- Caringo Inc.
- MinIO Inc.
- Aruba S.p.A.
- Elastifile Inc.
- OSNEXUS Corporation
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 200 |
Published | April 2025 |
Forecast Period | 2025 - 2029 |
Estimated Market Value ( USD | $ 9.49 Billion |
Forecasted Market Value ( USD | $ 17.43 Billion |
Compound Annual Growth Rate | 16.4% |
Regions Covered | Global |
No. of Companies Mentioned | 28 |