Cloud Storage Market for Media and Entertainment Industry - Forecasts from 2018 to 2023

The cloud storage market for media and communication industry was valued at US$0.687 billion in 2017 and is projected to expand at a CAGR of 24.11% over the forecast period to reach US$2.511 billion by 2023. Rapidly changing consumer preference regarding content consumption coupled with increased consumer exposure to global digital content is changing the way of delivering media content to consumers. Increasing need for video on demand are compelling companies such as Netflix and Amazon to providing cloud-based digital content to capture the fragmented customer base across the globe by reducing time to market new content plans. Rising cost of content license is also pressurizing broadcasters to reduce upfront technology investments, which is significantly increasing the usage of pay-as-you-go subscription models. Thus, the cloud storage market for this industry is expected to show an impressive growth over the forecast period owing to the rising adoption of cloud services among SMB’s so as to meet the increasing unpredictable demands of the consumers.

By Solution

By solution, the cloud storage market for media and entertainment 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 media and entertainment industry is segmented as public, private and hybrid cloud. Public cloud model holds a significant share in the market. The media companies use the public cloud model for non-critical applications such as global content distribution and collection of content from providers

By Services

By services, the cloud storage market in healthcare 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 media and entertainment industry is segmented as large and small and medium-sized business (SMB). Large enterprises such as Netflix holds a significant share in the market on account of burgeoning preference for on-demand videos which in turn is compelling these enterprises to adopt advanced cloud storage solutions so as to provide consumers with seamless video experience.

By Geography

Geographically, the cloud storage market for media and entertainment industry is segmented as North America, Europe, Middle East & Africa, Asia-Pacific and South America. Currently, North America holds a significant share in the market due to the presence of a significant number of players in the region that are adopting cloud solutions.

Competitive Intelligence
The cloud storage market for media and entertainment industry is competitive owing to the rising adoption of cloud storage solutions in the media and entertainment sector .The key players include Amazon Web Services, Inc., Microsoft, IBM, Google, RACKSPACE US, Inc, Box, Inc., and Dell Inc. among others.

Segmentation

The cloud storage market for media and entertainment 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