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 are leading to the adoption of cloud computing solutions to remotely manage all globally-located stores while reducing the cost of IT manpower. The 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 impressive growth as enterprises continue to drift towards the 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. The 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 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 into large and small, and medium-sized businesses (SMBs). Small and medium-sized businesses are embracing the 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 of the market owing to the small and medium-sized retailers increasingly adopting cloud solutions to meet the increasing demands of 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 the following segments:
• By Solution
o Primary Storage
o Backup Storage
• By Deployment Model
o Public Cloud
o Private Cloud
o Hybrid Cloud
• By Services
o Integration
o Consulting
o Others
• By Enterprise Size
o Large
o SMB (Small and Medium-sized business)
• By Geography
• North America
o US
o Canada
o Mexico
o Others
• South America
o Brazil
o Argentina
o Others
• Europe
o UK
o Germany
o France
o Italy
o Others
• Middle East and Africa
o Saudi Arabia
o UAE
o Israel
o Others
• Asia Pacific
o China
o India
o Japan
o Australia
o Others