Cloud Storage Market for Retail Industry - Forecasts from 2018 to 2023

The Cloud storage market for retail industry was valued at US$ 2.252 billion in 2017 and is projected to expand at a CAGR of 22.70% over the forecast period to reach US$ 7.685 billion by 2023. The global retail industry is widely adopting cloud computing solutions and services. Increased smartphone users and internet penetration has led to a boom in retail online stores and apps. Moreover, retailers are offering free Wi-Fi in their brick and mortar (B&M) stores to target tech-savvy customers with in-store sales offers and coupons. Growing supermarket and retail chains worldwide is leading to the adoption of cloud computing solutions to remotely manage all globally-located stores while reducing the cost of IT manpower. Rising number of global online shoppers is also pushing retailers to transform from physical storefronts to virtual stores, which is spurring the adoption of cloud storage solutions

By Solution

By solution, the cloud storage market for retail industry is segmented as primary and backup storage. The market for backup storage is expected to witness an impressive growth as enterprises continue to drift towards cloud for backing up their critical data and IT environment to ensure business continuity.

By Deployment Model

By deployment model, the cloud storage market for retail industry is segmented as public, private and hybrid cloud. Highly competitive nature of this industry is pushing the industry players towards cost reduction while ensuring data security remains to be on the forefront of their growth strategies. As a result, the adoption of public cloud among the industry players is witnessing an increase.

By Services

By services, the cloud storage market for retail industry is segmented as integration, consulting and others. All these services are provided to the customers by the cloud storage solution provider so as to help businesses to boost their productivity in an efficient manner.

By Enterprise size

By enterprise size, the cloud storage market for retail industry is segmented as large and small and medium-sized business (SMB). Small and medium sized businesses are embracing SaaS cloud model as it helps them to cut costs and responsibilities.

By Geography

Geographically, the cloud storage market for retail industry is segmented as North America, Europe, Middle East & Africa, Asia-Pacific and South America. North America holds a significant share in the market owing to the small and medium sized retailers increasingly adopting cloud solutions to meet the increasing demands of the consumers.

Competitive Intelligence
The cloud storage market for retail industry is competitive owing to the increasing adoption of cloud storage solutions in the education sector .The key players include Amazon Web Services, Inc., Microsoft, IBM, Google, and Wanstor among others.

Segmentation

The cloud storage market for retail industry has been analyzed through following segments:

By Solution

Primary Storage
Backup Storage

By Deployment Model

Public Cloud
Private Cloud
Hybrid Cloud

By Services

Integration
Consulting
Others

By Enterprise Size

Large
SMB (Small and Medium-sized business)

By Geography

North America

US
Canada
Mexico
Others

South America
Brazil
Argentina
Others

Europe
UK
Germany
France
Italy
Others

Middle East and Africa
Saudi Arabia
UAE
Israel
Others

Asia Pacific
China
India
Japan
Australia
Others