The ever-increasing volume of data on digital networks among government agencies and private enterprises encourage adoption of cloud storage, which drives the cloud storage gateways market.
Gateway providers normally reduce data redundancy and surge compression capabilities to utilize bandwidth resourcefully and mobilize data, cutting down Capex and Opex cost of organizations, which drives the cloud storage gateways market growth.
Reduced digital footprint for low service cost boosts demand for cloud storage gateways. However, rise in concerns related to safety and legitimate use of this data is a major challenge for growth of the cloud storage gateways industry.
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Contrarily, demand for efficient disaster recovery and backup rises, as data usage is increasing, which is further expected to boost the cloud storage gateway market during the forecast period. In addition, organizations are opting for cloud storage as there is high cost associated with traditional storage which is anticipated to drive the cloud storage gateways market.
The need to manage rise in volume of unstructured data is seen across every organization’s IT department. Businesses want to shift to cloud storage solutions to deliver these capabilities and reduce costs. To be able to store this data while meeting requirements for durability, availability, and performance, all while containing costs, many IT organizations have turned to cloud-based solutions such as object storage.
For instance, Amazon S3 has become so successful that it is becoming a standard application protocol in the industry and is creating demand for on-premises object-based storage too. Various developments in the cloud storage market are further expected to accelerate growth of the cloud storage gateways market.
As compared to a commercial external hard drive where files have to be manually encrypted, cloud services automatically encrypt files before storing them. This means hackers need to crack the file encryption first before they can steal any information.
And data encryption is very hard to crack due to letters, numbers, and special characters that are generated by random user actions. Thus, data is protected over cloud storage, which encourages organizations to adopt cloud storage gateways.
Major players analyzed in the market include Agosto, Inc., Amazon Web Services Inc., Ctera Networks Inc., Dell Inc., Emulex Corporation, Hewlett Packard Enterprise, Maldivica Inc., Microsoft Corporation, NetApp Inc., and Oracle Corporation.
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Key benefits of the report:
- This study presents analytical depiction of the global cloud storage gateways industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cloud storage gateways market share.
- The current market is quantitatively analyzed from 2021 to 2027 to highlight the cloud storage gateways market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cloud storage gateways market analysis based on competitive intensity and how the competition will take shape in coming years.
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