Cloud Storage Gateways Market

Global Cloud Storage Gateways Market Size (2024 to 2029)

The size of the global cloud storage gateway market is expected to value USD 3.55 billion in 2024 and USD 10.82 billion by 2029, growing at a CAGR of 30.7% during the forecast period.

A cloud storage gateway is a software or hardware networking device that assists in providing connectivity and protocol translation services between the local customer application and the cloud storage service provider. Cloud storage gateway software is implemented on a local machine or application to facilitate data transfer between incompatible protocols, security, and compression services. This is designed to provide better interoperability among the different data protocols used in client-server cloud architecture. Cloud storage gateways are generally implemented as software gateways and provide a range of services to facilitate faster transfer, seamless data retrieval and transfer between the remote cloud storage servers, data compression for version management, control of entire storage snapshots, and run-time encryption, ensuring secure data transmission.

Global Cloud Storage Gateways Market Drivers:

The key drivers contributing to the growth of the global cloud storage gateways market over the forecast period are the continuous rise in data, the rising need for data encryption, and the need to integrate cloud storage with legacy/local object storage.

The growing deployment of cloud-based solutions rate in enterprises has been creating enormous opportunities for market players in the global cloud storage gateway market and will boost the global cloud storage gateway market growth over the forecast period. The rising need for data encryption and the need to integrate cloud storage with legacy/local object storage, and cloud storage gateways have been becoming popular among users. This results in the growing adoption of cloud storage gateway appliances (Virtual and Physical) among the various industries, which can be one of the driving factors for this market.

Global Cloud Storage Gateways Market Restraints:

The key restraining factors that hamper the growth of the global cloud storage gateways market over the forecast period are growing data security concerns and low WAN speed & and latency in the remote. Business organizations are intended to deploy cloud storage solutions for better overall connectivity, agility, and scalability. Yet, they are concerned about the security aspect of the information as the transmission of data to the cloud is prone to security breaches and subsequent replication.

REPORT COVERAGE:

This research report on the global cloud storage gateways market has been segmented and sub-segmented based on the type, organization size, deployment, and industry verticals.

Global Cloud Storage Gateways Market - By Type:

• Physical Cloud Storage Gateway Appliances
• Virtual Cloud Storage Gateway Appliances

Global Cloud Storage Gateways Market - By Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

The large enterprise-size segment is expected to grow at a higher rate and expand due to the need for secure management and huge data storage. 

Global Cloud Storage Gateways Market - By Deployment:

• Public Cloud
• Private Cloud
• Hybrid Cloud

Based on deployment, the public cloud segment contributes the largest market share and is expected to continue its dominance in the global cloud storage gateway market. However, the hybrid cloud deployment model is estimated to grow at the highest CAGR. The public cloud deployment model is considered a simple, efficient, and standardized model for a cloud-based solution which is adopted by business organizations working in and across several industries, including retail and consumer goods, Banking, Financial Services, and Insurance (BFSI), media and entertainment, high tech and electronics, manufacturing, healthcare, and life sciences, and research and education for high-end storage and computing applications.

Global Cloud Storage Gateways Market - By Industry Verticals:

• BFSI
• Government & Public Sector
• Healthcare & Life Sciences
• Telecommunications & IT
• Manufacturing
• Retail
• Media & Entertainment
• Others

The BFSI industry is estimated to have the highest market share among all the verticals due to the growing need to securely manage and recover data stored on the cloud. The research and education industry is projected to grow at the highest rate. To provide smooth access to the files shared and stored in the cloud, cloud storage gateways are being deployed in educational institutes because of the improved process. 

Global Cloud Storage Gateways Market - By Region:

• North America
• Europe
• Asia-Pacific (APAC)
• Middle East and Africa (MEA)
• Latin America (LATAM)

North America is expected to hold the largest share in the global cloud storage gateways market during the forecast period due to the high penetration of cloud-based organizations in several countries. 

Asia Pacific market is expected to grow at the highest CAGR over the forecast period due to the increase in adoption of cloud-based storage solutions and the rise in demand for fast, secure, reliable, and easily accessible storage environments in various industries.

The cloud storage gateways market in Europe is expected to grow at a substantial rate. SMEs in Europe can be witnessed to register a higher inclination in the adoption of cloud-based services than larger enterprises due to their budget constrictions. Cloud storage gateways are anticipated to play a crucial role in cloud accessibility irrespective of whether the cloud is public, private, or hybrid.

KEY MARKET PLAYERS

The cloud storage gateway ecosystem comprises key market players, such as Amazon Web Services (U.S.), Agosto (U.S.), Maldivica Inc. (U.S.), Microsoft Corporation (U.S.), CTERA Network Corporation (New York), EMC Corporation (U.S.), Emulex Corporation (U.S.), Hewlett-Packard (U.S.), Nasuni (U.S.), and NetApp (U.S.).

RECENT DEVELOPMENTS IN THE MARKET:

• Weintek USA and Amazon Web Services came into partnership in August 2019. This partnership helped Weintek USA with its cloud-based data and application storage and on-demand computational power and IT resources for industrial operations. AWS deployed Amazon S3 buckets specifically for cloud-based data storage.
• Microsoft started selling its product Azure Data Box Disk in Japan and Korea in April 2019. Data Box Disk is an SSD-disk-based option to transfer the data offline to Azure.