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Cloud Storage Services Market to grow by USD 123.84 Billion from 2024-2028, driven by increased data generation, with AI shaping market trends – Technavio

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NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global cloud storage services market size is estimated to grow by USD 123.84 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 19.56% during the forecast period. Growth in data generation is driving market growth, with a trend towards high adoption of cloud storage services by SMES. However, vendor lock-in issues poses a challenge. Key market players include Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cloud Software Group Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., InterVision Systems LLC, Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Rackspace Technology Inc., ServiceNow Inc., Tencent Holdings Ltd., and Toshiba Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Solutions and Services), End-user (Large enterprises and SMEs), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cloud Software Group Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., InterVision Systems LLC, Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Rackspace Technology Inc., ServiceNow Inc., Tencent Holdings Ltd., and Toshiba Corp.

Key Market Trends Fueling Growth

Cloud storage services have seen adoption in business environments due to their flexibility, scalability, and convenience. Agile IT companies are increasingly turning to cloud storage solutions for their data needs, from small businesses to large enterprises. Cloud storage providers offer various models, including public, private, and hybrid, catering to different business requirements. Key trends include the integration of AI and automation for data management, ensuring data security and integrity. Big data and IoT proliferation necessitate cloud storage for handling large volumes of data. Rapid deployment and reduced CAPEX are also driving the adoption of cloud storage services. Cloud storage solutions offer user-friendly interfaces, seamless monitoring, and reliable uninterrupted services. Data encryption, backup, and synchronization are essential features for safeguarding critical information. Service providers offer customizable storage models, including block, file, and object storage, catering to various use cases. Cloud storage services enable IT hardware savings, quick deployment, and easy accessibility for remote workforces. The technology development also supports database sharing, EC2 Console, and edge computing. With the increasing use of connected devices, cloud storage is essential for data generation and management. Cloud storage services are not just for IT environments but also for verticals like government, healthcare, and finance, ensuring data security and compliance. The market continues to grow, with Dropbox, Amazon S3, and Microsoft Azure leading the way. The future of cloud storage services includes advanced features like self-driving cars, remote sensing, and real-time data processing. 

Enterprises worldwide, including Small and Medium Enterprises (SMEs), are prioritizing cost reduction by embracing new technologies. Cloud storage services have emerged as a preferred choice for SMEs due to their limited IT resources and budget. Instead of managing their own data centers, SMEs can access IT resources like storage and servers on-demand through cloud solutions. Cloud storage offers cross-platform solutions, enabling SMEs to develop web, desktop, and mobile applications for various device types and architectures. The flexibility to scale resources up or down according to requirements makes cloud storage an economical and efficient choice for SMEs. 

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Market Challenges

Cloud storage services have become essential for businesses of all sizes, enabling convenient access to data from anywhere, at any time. However, the market faces several challenges. Agile businesses require quick deployment and scalability, making AI and automation crucial for cloud storage solutions. Big data and data volume necessitate adoption of public and private cloud storage. Data security, integrity, and encryption are paramount, with ransomware and malware posing significant threats. IT environments, including cloud applications, edge computing, and IoT, proliferate, necessitating flexible, user-friendly, and scalable models. Hybrid cloud solutions offer the convenience of public cloud with the security of private cloud. SMEs and large enterprises seek reliable, cost-effective options, while verticals like government, healthcare, and finance prioritize data safeguarding. Cloud storage providers must offer seamless monitoring, customization, and backup. Service providers must ensure uninterrupted services, handling data generation from connected devices and containerized workloads. Rapid deployment, reduced CAPEX, and accessibility are essential for businesses during economic downturns. Cloud storage solutions must cater to the increasing demands of technology development, database sharing, and software stack synchronization. Cloud storage services must be secure, reliable, and offer user-control. They must support various storage models, including block, file, and object storage, and cater to the needs of various industries, including self-driving cars, remote sensing, and remote work. Ultimately, cloud storage services must be convenient, reliable, and cost-effective, enabling businesses to focus on their core competencies.Vendor lock-in is a significant challenge in the cloud storage services market, preventing customers from easily transitioning between vendors. This issue arises when a customer becomes dependent on a specific vendor due to the use of their proprietary technology or solutions. The lack of standardization in cloud computing exacerbates this problem, making it difficult for customers to switch to alternative vendors. Applications built on specific platforms and tools further complicate the situation. To address this concern, there is a growing need for standardization and interoperability in cloud storage services. This will enable customers to freely choose the vendor that best suits their needs without facing undue barriers to migration.

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Segment Overview 

This cloud storage services market report extensively covers market segmentation by

Component 1.1 Solutions1.2 ServicesEnd-user 2.1 Large enterprises2.2 SMEsGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Solutions- Cloud storage solutions hold a significant position in the component segment of the global cloud storage services market in 2023. These solutions cater to unique customer requirements and generate value through offerings like data security, file synchronization and sharing, disaster recovery, and data backup and recovery. The solutions segment encompasses various cloud-based storage solutions such as file storage and sharing, primary storage, disaster recovery, and backup storage. The popularity of cloud storage solutions among Small and Medium Enterprises (SMEs) due to their scalability, flexibility, cost-effectiveness, and security features. Solutions like Google Drive and Dropbox provide a range of storage options and top-level encryption for data protection. With the shift to remote work due to the COVID-19 pandemic, cloud storage solutions have become indispensable for enabling file sharing and collaboration between teams. Microsoft OneDrive is an example of a cloud storage solution offering file-sharing features. The increasing demand for cloud storage solutions is driven by their scalability, flexibility, cost-effectiveness, security, and file-sharing capabilities, making them a vital component for end-users in data storage and sharing. Consequently, the growth of the global cloud storage services market is anticipated to be fueled by the solutions segment during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Cloud Storage Services Market is experiencing exponential growth due to the increasing adoption of cloud technologies by businesses of all sizes. Agile and flexible cloud storage solutions cater to various use cases, including cloud object storage for unstructured data, block storage for databases, and file storage for traditional applications. Big data and IoT generate massive volumes of data, necessitating scalable and secure cloud storage solutions. Artificial intelligence (AI) and automation are transforming cloud storage, enabling data analysis, and improving business continuity. AI-driven data management tools ensure data integrity and security, while edge computing reduces latency and enhances performance. Cloud-based storage solutions offer cost savings, ease of deployment, and seamless integration with cloud applications. Cloud archival storage is an essential component for long-term data retention and disaster recovery. Overall, cloud storage services provide and reliable infrastructure for managing and securing data in the digital age.

Market Research Overview

Cloud Storage Services Market: Unleashing the Power of Agile and Scalable Data Storage Cloud storage services have revolutionized the way businesses handle data, enabling convenient customization, rapid deployment, and uninterrupted services. The market is witnessing adoption across various verticals, from large enterprises to SMEs, due to its flexibility, reliability, and reduced CAPEX. The proliferation of cloud technologies, including AI and automation, is driving innovation, with cloud storage solutions offering advanced features like data encryption, integrity, and security. The market caters to diverse storage needs, from file storage and block storage to cloud object storage and cloud archival storage. Cloud storage services are integral to cloud applications, hybrid cloud, and edge computing, ensuring seamless monitoring and safeguarding data from malware and ransomware attacks. The Internet of Things (IoT) and remote work have further fueled the demand for cloud-based storage, with connected devices and containerized workloads generating massive data volumes. Cloud storage providers offer various storage models, including public, private, and hybrid cloud storage, catering to the unique requirements of different IT environments. The market is expected to continue its rapid growth, driven by technology development, increased data generation, and the need for business continuity and data backup. With user-friendly interfaces, convenient accessibility, and scalable models, cloud storage services are an essential component of modern IT infrastructure.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesEnd-userLarge EnterprisesSMEsGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Saramonic WiTalk9 X: Modular-Designed, Lightweight Wireless Intercom System Redefines Team Communication

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NEW YORK, April 19, 2026 /PRNewswire/ — Saramonic, a leading brand in audio solutions, announced a 9-Person Modular Full-Duplex Wireless Intercom System WiTalk9 X and the WiTalk9 Base. WiTalk9 X builds upon the success of the WiTalk9 with a focus on lightweight comfort and modular adaptability, introducing unprecedented flexibility and scalability of modern production teams from small to large.

Industry-First Modular Design for Maximum Flexibility

The Saramonic WiTalk9 X sets a new standard for adaptability in wireless intercom systems. Its industry-first modular construction allows users to switch between single-ear, dual-ear, or helmet-ready models, accommodating the diverse needs of different crew roles.

Weighing just 172 grams (6 oz) with battery in its single ear configuration, the WiTalk9 X delivers all-day comfort for demanding production environments. The IPX4-rated, lightweight design allows professionals who wear headsets for extended periods during long shoots or live events to focus on their work.

Intelligible Voice Communication: Saramonic ClearTalk™2.0 Technology and AI Noise Cancellation

Saramonic ClearTalk™2.0 combines the dual-microphone array and Saramonic AI Noise Cancellation. The cardioid main microphone focuses on the speaker’s voice, and the omnidirectional secondary mic collects the noise as samples for Saramonic AI Noise cancellation to separate the vocal and noise, ensuring clear and stable voice communication.

Saramonic AI Noise Cancellation is trained by over 700,000 noise samples across 20,000+ hours. Compared to traditional environmental noise cancellation that only handles ambient sounds, it identifies and separates noise in real-time to keep voice clear and stable within team communication, even when multiple crews speak at once in a complex environment.

Efficient Team Work with Dual-Antenna Design and Saramonic WiTalk Wireless Intercom Ecosystem

The WiTalk9 X features both internal and external antennas to continuously monitor signal quality and select the stronger signal. It operates on the 1.9 GHz DECT Technology and offers up to 12 hours battery life with a spare rechargeable lithium battery for quick replacement, enables teams to stay connected within 1,300 ft (400m) – ideal for events, film shoots, and live performances.

Saramonic WiTalk9 X supports a 9-person system without a hub, and can be easily scaled up to 64 users via WiTalk Base, enabling group cascading and remote collaboration with an industry-leading range of up to 700 meters.

Pricing and Availability

The Saramonic WiTalk9 X is available through official stores. For detailed pricing and configuration options, please contact your local Saramonic representative or visit www.saramonic.com.

Contact: marketing@saramonic.com 

Photo – https://mma.prnewswire.com/media/2959888/9x__________1_1.jpg

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Siemon Releases 2026 ESG Report and Progress Update Report

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WATERTOWN, Conn., April 19, 2026 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in high‑performance network infrastructure solutions for data centers and smart buildings, is proud to announce the release of its 2026 Environmental, Social, and Governance (ESG) Report, showcasing accelerated climate action, third‑party‑verified performance, and continued leadership in transparent, responsible business practices. The report highlights Siemon’s strongest ESG results to date, including early achievement of science‑based climate targets, expanded renewable energy adoption, increased product transparency, and a people‑first culture that supports accountability, equity, and long‑term value creation.

Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce.

Key Highlights from the 2026 ESG Report:

Greenhouse Gas (GHG) Emissions

Achieved a 69% absolute reduction in Scope 1 and Scope 2 emissions from a 2021 baseline, surpassing the company’s 2031 SBTi‑validated target four years ahead of schedule.Reduced Scope 3 emissions intensity by 23.1%, while maintaining essentially flat absolute emissions despite business growth.

Energy, Water & Waste

Increased renewable energy usage to 90% of global operations, achieving Scope 2 carbon neutrality at major U.S. and China facilities.Reduced water usage by 30%, exceeding the company’s long‑term reduction goal.Delivered a 17.1% absolute reduction in waste, supported by expanded recycling and sustainable packaging initiatives.

Product Transparency & Customer Enablement

Expanded Environmental Product Declaration (EPD) coverage to 41% of sales and Health Product Declaration (HPD) coverage to 49% of sales, supporting green building and material health requirements to a screening threshold of 100 ppm.Launched an online compliance portal providing on‑demand regulatory and standards assurance for 99% of finished goods, including RoHS, REACH, PFAS, and conflict minerals.

People & Social Impact

Certified™ by Great Place To Work® in the U.S. for the third consecutive year, with 90.4% of employees globally affirming Siemon as a great place to work.We have made a commitment to ensure that 100% of our employees are paid at or above the living wage. Contributed 2,600+ volunteer hours and over $160,000 in charitable giving, supporting education, community, and conservation initiatives worldwide.

Governance & Transparency

Advanced alignment with the EU Corporate Sustainability Reporting Directive (CSRD), completing a third‑party‑reviewed Double Materiality Assessment and Limited Assurance Audit.Maintained 100% employee training on the Company Code of Conduct, aligned with the UN Global Compact and Responsible Business Alliance principles.

“Sustainability is not a side initiative; it’s embedded in how we operate, how we innovate, and how we lead. This year’s report reflects disciplined execution across our Sustainable Development Goals, our value chain, and our workforce. We’re focused on delivering measurable progress today while building the systems and governance needed for the future.”

– John Siemon, Chief Technology Officer and Chief Operating Officer at Siemon

In a unique effort to bridge corporate reporting with tangible action, Siemon has integrated an interactive giving component into the digital publication. Within the executive summary and each primary pillar – Environmental, Social, and Governance -readers will find a dedicated link to unlock a corporate donation. This initiative empowers stakeholders to personally direct Siemon to fund toward one of five global non-profit partners: Habitat for Humanity, Doctors Without Borders, Engineers Without Borders, One Tree Planted, or Oceana.

The full 2026 ESG Report is available for download at www.siemon.com/esg.

About Siemon

Siemon is a global market leader in the design and manufacture of high-performance connectivity solutions for data centers and smart buildings. We empower our customers to connect faster, scale smarter and deploy with confidence. Founded in 1903, our legacy of customer-driven innovation, engineering excellence, and an unwavering commitment to sustainability has made us the benchmark for quality and reliability. We deliver precision-built copper, fiber and high-speed connectivity solutions that perform at scale, with the flexibility, speed, and support our customers rely on. With operations in over 100 countries, Siemon has one of the industry’s broadest solution portfolios and is the trusted partner behind the networks that connect the world. Find out more at www.siemon.com.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

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Quickplay’s Triple Play of New Customers, Products and Partnerships Set to Dominate NAB 2026

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LAS VEGAS, April 19, 2026 /PRNewswire/ — (2026 NAB Show) – Quickplay, the Content to Value Operating System, today unveiled a broad array of company news including: an AI-enriched solution that identifies social signals and trending topics, and connects them to relevant content within minutes; transformative customer deployments; and powerful industry research and partnerships.

Debuting at NAB, Social Signals is a new technology within Quickplay AI Studio that identifies trending cultural moments and matches them with high-value content assets to automatically generate social-ready clips and posts. By combining external trend data with performance insights from owned channels, Social Signals enables content teams to move from insight to publishing in minutes, rather than days.

Social Signals is a key part of Quickplay’s AI Studio Solution, which includes metadata enrichment, moment detection, smart verticalization and multi-platform publishing. Its Smart Verticalizer uses multimodal AI and action tracking to intelligently reframe video –preserving key visual elements such as faces, gameplay and on-screen graphics – to maintain broadcast-quality standards across short-form formats. The company has also partnered with Visible Things, the creator-driven platform to deploy the first implementation of Social Signals across the Visible Things infrastructure.

Quickplay further announced it has gone live with Gray Media (NYSE: GTN)’s new streaming experience, which included consolidating 1,300 digital touchpoint, including 163 websites, 326 mobile apps and 815 CTV apps onto a single data-driven platform powered by Quickplay and Google Cloud (NASDAQ: GOOGL). The system now manages 269 live channels and 123 FAST channels across Amazon Prime Video, Roku (NASDAQ: ROKU), Samsung TV Plus, Vizio and Fire TV, delivering hyper-local content to 37% of U.S. TV households.

Quickplay also announced the cloud-native transformation of Television New Zealand’s streaming platform, TVNZ+. Completed in 12 months, Quickplay replaced a fragmented ecosystem of six+ vendors across UI/UX, content management, video processing, advertising and analytics with a single, unified platform. The team at TVNZ also named Amazon Web Services (NASDAQ: AMZN) as its preferred cloud platform for the transformation, further increasing efficiencies and lowering costs by consolidating onto a single cloud vendor. The technology overhaul will drive unprecedented innovation and efficiency for TVNZ, New Zealand’s state-owned broadcaster, which reaches over two million New Zealanders daily.

“Broadcasters don’t need another point solution. They need an AI-enabled operating system that turns content into measurable outcomes,” said Paul Pastor, Co-Founder and Chief Business Officer at Quickplay. “At NAB, we’re showing how to bring cultural moments, content catalogs and distribution workflows together to create engaging and revenue opportunities in real time.”

In partnership with Caretta Research, Quickplay will also release new research, “The Broadcaster Revolution Will Not Be Televised,” highlighting a critical bottleneck in the industry: North American broadcasters spend approximately 75% of their time on technical workflows, leaving only 25% for content creation. The report outlines how automated workflows and unified operations can help broadcasters meet the growing demand for short-form video while maintaining editorial quality and accelerating monetization.

Additionally, Quickplay has joined NAB PILOT, a coalition of innovators, educators and advocates dedicated to advancing broadcast technologies and cultivating new media opportunities. As a part of this group, Quickplay is expanding its collaboration with broadcasters to redefine how value is derived from content.

Quickplay at NAB 2026:

Paul Pastor, Jordan Bartow, and Peter Tanner of Quickplay, and Albert Lai of Google Cloud will be on a panel: An Audience of One: How Gray Media + Google Cloud + Quickplay are Using AI and Cloud OTT to Personalize Local News, Enable User-Generated Content, Engage Younger Viewers, and Unlock New Revenue for Broadcasters. Central Hall Stage, Monday, April 20 at 4:15p PTAt the NAB Streaming Summit TVNZ’s Chief Digital Officer, Rob Hutchinson, will present “How TVNZ+ Built a Co-Viewing Product” on Tuesday, April 21 at 11:30 AM PT.Live Demonstrations: See Quickplay technology in action at AWS, GCP, TwelveLabs and the Encore. To book a meeting, email hello@quickplay.com

About Quickplay:
Quickplay is the Content to Value Operating System for media and entertainment, connecting every stage of the content lifecycle, from creation to monetization. By applying intelligence where it drives measurable impact, Quickplay enables broadcasters, sports operators, streamers, and creators to turn their catalogs into revenue. Quickplay powers 2.5 billion streaming minutes per month, with 5 billion ad impressions served and 99.999% streaming uptime. 

Quickplay was founded by four innovators with deep media and entertainment technology experience from AT&T, McKinsey and Company, The Walt Disney Company, and Warner Bros. Discovery. Headquartered in Toronto, the company has offices in Los Angeles, San Diego, Chennai, and throughout Europe. For more information, visit quickplay.com.

Media Contact:
Breakaway Communications for Quickplay
quickplaypr@breakawaycom.com
+1 917-731-5734

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