Global Cloud-Based Repository Services Market is valued approximately at USD 4.2 billion in 2022 and is anticipated to grow with a growth rate of more than 24.87% over the forecast period 2023-2030. Cloud based repository services provide a secure and convenient way for businesses to store, manage and collaborate data in a cloud-based environment. It is widely used for quick data transport, storage, and other purposes. The Cloud-Based Repository Services market is expanding because of factors such as growing data storage requirements and increasing adoption of enterprise cloud. Its importance has progressively increased during the last few decades.
According to the Statista in 2021, 4.26 trillion dollars were spent on information technology (IT) worldwide in 2021 on hardware, including PCs, tablets, mobile phones, printers, as well as data centre equipment, enterprise software, and communications services. In 2023, it is anticipated that global IT spending will reach about 4.66 trillion dollars. According to the Statista, In addition, adoption of cloud services and other technological advancements provides lucrative opportunities for the global cloud-based repository services market growth. However, lack of skilled professionals and experts and lack of cloud security architecture and strategy stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Cloud-Based Repository Services Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North American region is expected to dominate in 2021, the market owing to adoption of cloud -based repository services and rising demand for digitalized platforms. According to the Statista in 2021, digital spending in North America increased by nearly 25 percent and reached an estimated USD 214 billion By 2026, this figure is set to surpass USD 360 billion, with the United States being the main driver of growth. APAC is anticipated to fastest growing region due to the progressive adoption of cloud-based services across various industries.
Major market player included in this report are:
Cisco Systems, Inc.
Dell Electromagnetic Compatibility Corporation
HCL Technologies Inc.
Hewlett Packard Company
Hitachi Data Systems
International Business Machines Corporation
Recent Developments in the Market:
• In April 2022, Google LLC invested approximately $9.5 billion in our U.S. offices and data centers in 2022.
• In March 2022, Two brand-new 5G applications have been released by HCL Technologies (HCL), a well-known worldwide technology business, to assist mobile network operators in improving user experience and lowering energy usage across their 4G and 5G infrastructure.
Global Cloud-Based Repository Services Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Dashboards Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Dashboards Type:
Software as a Service (SAAS)
Platform as a Service (PAAS)
Infrastructure as a Service (IAAS)
Middle East & Africa
Rest of Middle East & Africa