Business Cloud Storage Service Global Market Report 2025

The business cloud storage service market size has grown rapidly in recent years. It will grow from $55.47 billion in 2024 to $65.09 billion in 2025 at a compound annual growth rate (CAGR) of 17.3%. The growth during the historic period can be linked to the expansion of digital transformation initiatives, an increasing shift towards cost-efficient solutions, rising globalization of businesses, growing data volumes, and a stronger focus on business continuity.

The business cloud storage service market size is expected to see rapid growth in the next few years. It will grow to $121.88 billion in 2029 at a compound annual growth rate (CAGR) of 17%. The growth in the forecast period is expected to result from rising demand for edge computing devices, adoption of industry-specific solutions, greater focus on sustainability, improvements in data governance and privacy, and increased use of containers and microservices. Key trends in the forecast period include AI-driven data management, integration of edge computing, adoption of zero-trust security, hybrid and multi-cloud optimization, and advanced data analytics and automation.

The growing emphasis on remote work is expected to drive the growth of the business cloud storage service market in the coming years. Remote work refers to a work arrangement where employees perform their duties from locations outside the traditional office, often from home or other remote settings. This shift is largely driven by advancements in digital infrastructure, such as widespread broadband internet access and cloud-based collaboration tools, which have enabled seamless communication and productivity from any location. As remote work continues to expand, the demand for secure and accessible data storage solutions increases, allowing employees to access, share, and collaborate on files from multiple locations without geographical limitations. For example, in February 2023, the Office for National Statistics, a UK-based government department, reported that between September 2022 and January 2023, 16% of working adults worked exclusively from home, while a higher 28% worked a combination of remotely and commuting. Thus, the growing focus on remote work is fueling the growth of the business cloud storage service market.

Companies in the business cloud storage service market are increasingly adopting advanced solutions such as zero-trust security frameworks to improve enterprise-level data protection and scalability. Zero-trust frameworks, which follow a "never trust, always verify" approach, require continuous authentication and authorization of users and devices to prevent unauthorized access and data breaches. In line with this trend, in May 2025, Backblaze Inc., a US-based cloud storage provider, introduced its Enterprise Web Console with zero-trust access controls and an intuitive design. This innovation enhances Backblaze’s competitiveness by enabling enterprises and managed service providers to securely manage B2 Cloud Storage deployments at scale. Features such as role-based permissions, multi-factor authentication (MFA), and SSO/SCIM integrations improve security and operational efficiency, while multi-region bucket creation supports redundancy, disaster recovery, global performance, and compliance, addressing the increasing market demand for secure, scalable, and compliant cloud storage solutions.

In March 2023, Akamai Technologies Inc., a US-based information technology service management company, acquired Ondat for an undisclosed amount. This acquisition aims to strengthen Akamai’s cloud computing portfolio by integrating Ondat's Kubernetes-native platform, which provides secure, scalable storage for stateful applications across public, private, and hybrid clouds. The deal bolsters Akamai’s Connected Cloud platform, enabling unified storage and computing across core, distributed, and edge locations. Ondat, a UK-based provider of cloud-native storage services, specializes in running stateful applications at scale across any infrastructure.

Major players in the business cloud storage service market are Google LLC, Microsoft Corporation, Alibaba Cloud Computing Limited, Amazon Web Services Inc, Dell Technologies Inc, Tencent Cloud International Limited, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc, Hewlett Packard Enterprise Company, NetApp Inc, Dropbox Inc, Box Inc, Backblaze Inc, Wasabi Technologies Inc, IDrive Inc, pCloud AG, SpiderOak Inc, OpenDrive Inc.

North America was the largest region in the business cloud storage service market in 2024. The regions covered in business cloud storage service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.

The business cloud storage service market research report is one of a series of new reports that provides business cloud storage service market statistics, including business cloud storage service industry global market size, regional shares, competitors with a business cloud storage service market share, detailed business cloud storage service market segments, market trends and opportunities, and any further data you may need to thrive in the business cloud storage service industry. The business cloud storage service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

A business cloud storage service is an online platform that enables organizations to securely store, manage, and access their digital files and data over the internet. It offers scalable storage, centralized management, data backup, and collaboration tools, allowing employees to access information from any location while ensuring security, compliance, and control over sensitive business data.

The primary types of business cloud storage services are object storage services, file storage services, and block storage services. Object storage services manage and store data as objects, providing scalable, flexible, and secure storage for unstructured data. Deployment options include public cloud, private cloud, and hybrid cloud, serving organizations of various sizes, such as small and medium enterprises (SMEs) and large enterprises. These services offer features including storage capacity, data security and privacy measures, accessibility and collaboration tools, backup and recovery solutions, and scalability, and are utilized across multiple industry verticals, including banking, financial services, and insurance (BFSI), healthcare, retail, information technology (IT) and telecommunications, government, media and entertainment, and others.

The countries covered in the business cloud storage service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The business cloud storage service market includes revenues earned by providing services such as data storage and management, file sharing and collaboration, version control and data lifecycle management, content delivery and caching. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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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