Cloud storage of corporate data in organizations worldwide 2015-2022

The amount of corporate data stored in the cloud has increased in recent years and is predicted to surpass 60 percent by 2022. This is a significant rise from 2015 when only 30% of corporate data was stored in the cloud. This trend is expected to continue in the future.

What is driving the adoption of cloud technology?

The global public cloud services market is expected to grow by approximately 22 percent in 2023, which equates to around 600 billion U.S. dollars. As businesses expand, their data storage and IT infrastructure needs become increasingly challenging to meet with on-premises storage servers and hardware alone. This growth creates a crucial need for scalability, which can only be efficiently and cost-effectively managed through cloud-based services. Additionally, companies are moving towards cloud technology to enhance their security, reliability, and business agility.

The four major players in the cloud market

Amazon, Google, Microsoft, and Alibaba are known as the big four in cloud technology, controlling over two-thirds of the global cloud market. Amazon Web Services (AWS) has held the majority of the market share for several years, with 32% of the entire market. Microsoft is the closest competitor, growing its market share year on year. Its suite of Office products offered on the cloud for enterprises and consumers worldwide has contributed to their success.