Cloud Object Storage Market Report 2026

The cloud object storage market size has grown rapidly in recent years. It will grow from $9.44 billion in 2025 to $10.97 billion in 2026 at a compound annual growth rate (CAGR) of 16.2%. The growth in the historic period can be attributed to growth in unstructured data volumes, expansion of cloud-native applications, rising use of data backup solutions, increasing adoption of content storage platforms, growth of digital media consumption.

The cloud object storage market size is expected to see rapid growth in the next few years. It will grow to $18.79 billion in 2030 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to increasing demand for cost-optimized storage solutions, rising adoption of AI and analytics workloads, expansion of hybrid and multi-cloud environments, growing focus on data security and compliance, increasing use of cloud storage optimization tools. Major trends in the forecast period include increasing adoption of scalable object storage architectures, rising demand for backup and archival storage, growing use of api-based data access, expansion of multi-cloud storage strategies, enhanced focus on data durability and redundancy.

The growing volume of data is expected to drive the growth of the cloud object storage market in the coming years. Data volume refers to the amount of data stored, processed, or transmitted within a particular system, network, or storage medium. The rise in data volume is largely fueled by the expansion of internet-connected devices, digital services, and the increasing use of data-intensive technologies such as artificial intelligence and IoT. Cloud object storage supports the management of this growing data volume because it delivers scalable, cost-efficient, and accessible storage solutions for the vast amounts of unstructured data created by modern digital technologies. For example, in March 2024, Edge Delta, a U.S.-based software company, reported that the world generated an estimated 120 zettabytes (ZB) of data in 2023, equivalent to roughly 337,080 petabytes (PB) per day. With around 5.35 billion internet users worldwide, this suggests that each user could be generating approximately 15.87 terabytes (TB) of data per day on average. Therefore, the increasing volume of data is contributing to 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 2023, DataCore Software Corporation, a U.S.-based data storage technology company, acquired Object Matrix for an undisclosed amount. Through this acquisition, DataCore aimed to broaden its Perifery portfolio into rapidly growing edge markets, particularly within media and entertainment, by integrating Object Matrix’s object-storage appliances and cloud solutions to enhance its end-to-end storage and workflow capabilities. Object Matrix Limited is a UK-based company that provides cloud object storage.

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., Quantum Corporation, DataDirect Networks Inc., Backblaze Inc., Cloudian Inc., Scality Inc., Wasabi Technologies Inc., Zadara Storage Inc., Caringo Inc., MinIO Inc.

North America was the largest region in the cloud object storage market in 2025. 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, South East Asia, 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, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tariffs are influencing the cloud object storage market by increasing costs associated with imported storage hardware, high-capacity drives, networking components, and data center infrastructure equipment. Cloud providers in North America and Europe are most affected due to reliance on global hardware supply chains, while Asia-Pacific faces cost pressures on storage infrastructure exports. These tariffs contribute to higher infrastructure investment requirements and can impact storage pricing strategies. However, they are also driving optimization of storage efficiency, increased adoption of software-defined storage, and regional expansion of data centers to reduce long-term exposure to import-related costs.

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 a 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.

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 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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