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Cloud Object Storage Market Growth From $10.97 Billion In 2026 To $18.79 Billion By 2030 At A CAGR Of 14.4%
The cloud object storage market size has experienced rapid expansion in recent years. It is projected to increase from $9.44 billion in 2025 to $10.97 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 16.2%. This historical growth can be attributed to factors such as the increasing volumes of unstructured data, the proliferation of cloud-native applications, a rise in the use of data backup solutions, the growing adoption of content storage platforms, and the expansion of digital media consumption.
The cloud object storage market is projected to experience substantial expansion in the coming years. Its size is anticipated to reach $18.79 billion in 2030, demonstrating a compound annual growth rate (CAGR) of 14.4%. This expansion during the projection period stems from factors such as a greater need for cost-efficient storage solutions, increased embrace of AI and analytics workloads, the spread of hybrid and multi-cloud environments, a stronger emphasis on data security and compliance, and the wider utilization of cloud storage optimization tools. Key developments expected within this timeframe involve the growing popularity of scalable object storage architectures, an increased requirement for backup and archival storage, the expanding application of API-based data access, the broadening of multi-cloud storage strategies, and a heightened commitment to data durability and redundancy.
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Cloud Object Storage Market Growth Factors Behind Sustained Expansion
The cloud object storage market is anticipated to expand due to the rising volume of data. Data volume quantifies the total amount of data that is stored, processed, or transmitted across a system, network, or storage solution. This surge in data volume primarily stems from the widespread adoption of internet-connected devices, the expansion of digital services, and the increased reliance on data-heavy technologies such as artificial intelligence and IoT. Cloud object storage effectively addresses this growing data volume by offering scalable, economical, and readily available storage options for the massive quantities of unstructured data produced by contemporary digital innovations. Illustratively, in March 2024, Edge Delta, a U.S.-based software firm, reported that the global data generation in 2023 was approximately 120 zettabytes (ZB), translating to roughly 337,080 petabytes (PB) daily. Given approximately 5.35 billion internet users worldwide, this suggests an average daily data generation of about 15.87 terabytes (TB) per user. Consequently, the growing volume of data is a key catalyst for the expansion of the cloud object storage market.
Cloud Object Storage Market Segment Landscape: Which Areas Lead Development?
The cloud object storage market covered in this report is segmented –
1) By Service: Professional Services, Managed Services
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: Social Media Platforms, Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Healthcare, Other End Users
Subsegments:
1) By Professional Services: Consulting Services, Integration Services, Implementation Services, Training And Support Services
2) By Managed Services: Data Backup And Recovery, Cloud Storage Monitoring, Cloud Storage Optimization, Security And Compliance Management
Cloud Object Storage Market Industry Trends Fueling Future Revenue Growth
Leading companies in the cloud object storage market are concentrating on high-performance object storage solutions that include advanced features like key management servers and data firewalls, aiming to satisfy the expanding need for efficient and reliable storage in cloud environments. These key management servers and data firewalls represent the integration of systems responsible for the secure management of cryptographic keys and the enforcement of access control policies, thereby protecting sensitive data from unauthorized access or breaches. For instance, in March 2024, MinIO, a US-based high-performance object storage system, unveiled the MinIO Enterprise Object Store, designed for commercial clients seeking simplified creation and administration of exabyte-scale data infrastructure. Utilizing MinIO’s recognized technical expertise in object storage, this new solution is specifically engineered to meet the performance and scalability requirements of extensive AI workloads. MinIO’s Enterprise solutions facilitate object storage management through features such as the Catalog for efficient metadata search, Cache for high-performance AI workloads, and Observability for comprehensive system monitoring, ensuring smooth operations and adherence to compliance.
Cloud Object Storage Market Industry Leaders And Competitive Landscape
Major companies operating in the cloud object storage market are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., Hitachi Vantara LLC, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, NetApp Inc., Iron Mountain Incorporated, Rackspace Technology Inc., Box Inc., Alibaba Cloud Computing Co. Ltd., Quantum Corporation, DataDirect Networks Inc., Backblaze Inc., Cloudian Inc., Scality Inc., Wasabi Technologies Inc., Zadara Storage Inc., Caringo Inc., MinIO Inc.
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Cloud Object Storage Market Global Footprint: Which Region Leads The Market?
North America was the largest region in the cloud object storage market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud object storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
