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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.

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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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Best AI Productivity Tools for Creators (2026): CapCut Recognized for Faster Video and Image Workflows by Software Experts

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NEW YORK, July 19, 2026 /PRNewswire/ — Artificial intelligence continues to reshape how digital content is produced, with creators relying on AI tools like CapCut to handle editing, asset generation, and repetitive production tasks that once required several separate applications. As these tools mature, software reviews are placing more weight on workflow efficiency alongside creative output.

Best AI Productivity Tools for Creators

Seedance 2.0 – an AI video generation model that creates videos from text prompts and image inputsPhoto to 3D – an AI tool that transforms 2D photos into images with realistic three-dimensional depth and effects

The use of AI has expanded across independent creators, marketing teams, educators, and small businesses producing content for websites, social media, online stores, and digital campaigns. Rather than using AI for a single task, many creative professionals now incorporate it throughout the production process, from generating concepts and visuals to refining finished content. This has encouraged software reviewers to test how well platforms support complete creative workflows instead of evaluating individual features in isolation.

Software Experts has included CapCut among its 2026 selections for AI productivity tools for creators, citing the platform’s collection of AI-powered features that support faster video and image production. The review examined how integrated AI tools can simplify common creative tasks across video editing, image generation, music creation, and visual enhancement.

What Is Driving Interest in AI Productivity Tools?

Content creators are producing more material than ever across short-form video platforms, social media, online stores, blogs, newsletters, and marketing campaigns. A single project may require multiple image formats, several video versions, captions, background edits, and audio, all within a short production window.

Many creators also repurpose one piece of content into several formats. A long-form video may be edited into short clips for social platforms, paired with custom graphics, accompanied by AI-generated music, and published alongside promotional images. Completing these tasks manually often requires switching between multiple editing applications.

This has encouraged software developers to introduce AI features that reduce manual editing while keeping creators in control of the finished product. Instead of switching between several applications, many creators now prefer platforms that support multiple stages of production within the same workspace.

How Does CapCut Support Video and Image Workflows?

CapCut offers AI tools that assist throughout the creative process, from generating visual assets to preparing finished content for publishing.

Among the tools included are:

Seedance 2.0 for generating AI videos from text promptsGPT Image 2 for creating images from written descriptionsSeedream for AI-generated artwork and creative visualsSeedmusic for producing original music from text promptsAI Image Extender for expanding images while preserving visual consistencyPhoto to 3D for adding depth effects to imagesAI Background Removal for separating subjects from image backgrounds with minimal editing

Together, these features support projects ranging from social media posts and marketing materials to promotional videos, educational content, presentations, and visual concepts, allowing creators to complete more production tasks within a single platform.

Why Are Integrated AI Platforms Receiving More Coverage?

Earlier AI tools often specialized in a single task, such as image generation or video editing. Newer platforms are bringing these functions together to let creators complete more of their work without transferring files between multiple services.

This type of workflow can shorten production time while helping maintain visual consistency across different content formats. It can also reduce the amount of time spent exporting files, reformatting assets, or rebuilding projects in separate applications.

As a result, software evaluations are increasingly examining how efficiently creators can complete everyday production work. Instead of concentrating solely on the number of AI features available, reviewers are also looking at how those tools function together during real-world creative projects.

What Did Software Experts Evaluate?

The review looked at AI tools that support practical creative work across multiple production stages rather than concentrating on a single feature.

Areas included in the evaluation included:

AI-assisted video generationText-to-image creationAI-generated musicBackground removalImage expansionThree-dimensional visual effectsEditing tools that support faster creative workflows

The review also examined how these features work together during typical content production rather than evaluating each tool separately. This reflects the way many creators now build content using interconnected AI tools instead of isolated editing software.

What Does This Mean for Creators?

Creative software continues to incorporate AI across more stages of content production, giving creators additional ways to streamline editing while maintaining creative control. As publishing schedules become more demanding, workflow efficiency has entered software evaluations alongside editing quality and creative flexibility.

Software Experts’ 2026 review places CapCut among AI productivity tools supporting faster video and image workflows through its collection of AI-powered creative features. As AI continues to influence digital content production, reviews are placing emphasis on how effectively platforms help creators complete everyday projects from concept through final publication.

To read the full review, please visit the Software experts website.

About CapCut

CapCut is an AI-powered photo and video editing platform designed to make high-quality video creation accessible across devices. The platform supports creators, businesses, and everyday users with tools for video editing, AI video generation, captions, templates, audio, and visual editing. CapCut is available across mobile, web, desktop, and iPad experiences, helping users create, edit, and prepare video content for social media, marketing, education, and personal projects.

About Software Experts: Software Experts delivers in-depth news on the digital tools shaping today’s consumer experience. As an affiliate, Software Experts may earn commissions from sales generated using links provided.

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SOURCE SoftwareExperts.org

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Penetron Strengthens Global Research Collaboration at ICSHM 2026

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PHILADELPHIA, July 19, 2026 /PRNewswire/ — Penetron participated in the 10th International Conference on Self-Healing Materials (ICSHM 2026), held July 8–10, 2026, at Drexel University in Philadelphia, Pennsylvania. The international event brought together leading researchers, engineers, and industry representatives to present and discuss the latest advances in self-healing materials and related technologies.

A global delegation of Penetron executives attended the conference, representing the United States, Greece, Italy, Brazil, India, Chile, the United Arab Emirates, Belgium, and Singapore.

“For over 50 years, Penetron has provided self-healing concrete solutions to the industry that optimize concrete durability by sealing cracks and reducing concrete permeability to limit maintenance requirements, extend structural service life, and help protect infrastructure exposed to groundwater, chemicals, chlorides, and other aggressive conditions,” says Christopher Chen, Director of The Penetron Group. “Our participation at the ICSHM reinforces Penetron’s long-standing commitment to international research collaboration and allows us to better understand emerging research and develop leading-edge solutions for real-world construction challenges.”

Hosted at Drexel University’s Bossone Research Enterprise Center, ICSHM 2026 welcomed specialists from more than 18 countries across six continents and featured over 70 technical presentations, including keynote addresses, plenary sessions, research presentations, and an interactive poster program. The conference opened with remarks from Drexel University President Antonio Merlo and ICSHM Chair Dr. Nele De Belie. Finally, the conference provided valuable opportunities for researchers and industry specialists to strengthen cooperation between academia and the construction sector to further develop self-healing technologies.

“Extending the service life of concrete infrastructure requires cooperation between universities, materials specialists, engineers, and industry,” said Jozef Van Beeck, Director of International Sales and Marketing for The Penetron Group. “ICSHM 2026 provided an important forum for connecting scientific research with the practical requirements of the global construction industry.”

The Penetron Group is a leading manufacturer of specialty construction products for concrete waterproofing, concrete repairs, and floor preparation systems. The Group operates through a global network, offering support to the design and construction community through its regional offices, representatives, and distribution channels.

For more information on Penetron waterproofing solutions, please visit penetron(dot)com or Facebook(dot)com/ThePenetronGroup, email CRDept(at)penetron(dot)com or contact the Corporate Relations Department at 631-941-9700.

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SOURCE The Penetron Group

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Singtel Receives Four Frost & Sullivan 2026 Recognitions for Leadership in Enterprise Connectivity, Cybersecurity, and Digital Transformation

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The recognitions highlight Singtel’s leadership in secure connectivity, network transformation, IoT innovation, and cybersecurity, delivering customer value through intelligent digital infrastructure and AI-enabled enterprise services.

SAN ANTONIO, July 19, 2026 /CNW/ — Frost & Sullivan is pleased to honor Singtel with the 2026 Southeast Asia IoT Connectivity Service Provider Company of the Year, 2026 Singapore Network Transformation Customer Value Leadership, 2026 Singapore Cybersecurity Services Company of the Year, and 2026 Singapore SD-WAN and SASE Service Provider Company of the Year recognitions. These acknowledgements reflect Singtel’s outstanding achievements in delivering secure, intelligent, and scalable digital infrastructure that enables enterprises to modernize operations, simplify complexity, and accelerate digital transformation across Singapore and Southeast Asia. They underscore the company’s consistent leadership in strategy execution, customer value creation, and innovation across enterprise connectivity, cybersecurity, software-defined networking, and IoT connectivity services.

Frost & Sullivan evaluates companies through a rigorous benchmarking process across two core dimensions: strategy effectiveness and strategy execution. Singtel excelled in both, demonstrating its ability to anticipate evolving enterprise requirements while consistently translating long-term vision into measurable customer outcomes. Through platforms such as Singtel CUBΣ (CUBE) and its multidomestic IoT connectivity architecture, the company continues to unify networking, cybersecurity, automation, and AI-driven intelligence into integrated solutions that address the growing complexity of hybrid, multicloud, and connected environments. “Singtel has established itself as a benchmark for enterprise digital infrastructure by converging connectivity, cybersecurity, network intelligence, and IoT orchestration into a unified, customer-centric ecosystem. Its disciplined execution, platform-led innovation, and commitment to simplifying complex enterprise environments continue to strengthen operational resilience and deliver sustained value for organizations across the region,” said Kenny Yeo, Director at Frost & Sullivan.

Guided by a long-term strategy focused on digital innovation, intelligent infrastructure, and customer-centric transformation, Singtel has moved well-beyond traditional telecommunications to a trusted technology partner for enterprises navigating increasingly connected and data-driven environments. Its strategic investments in AI-enabled operations, cloud-native platforms, secure connectivity, and ecosystem partnerships enable organizations to modernize critical infrastructure while maintaining the flexibility to support future business growth.

The company’s strategic agility and sustained investment in integrated digital platforms have enabled it to scale innovative services across local, regional, and global enterprise environments. Innovation remains central to Singtel’s approach through solutions including the CUBΣ connected intelligence platform, multidomestic IoT connectivity powered by eSIM orchestration, managed cybersecurity services, AI-driven network automation, and network-as-a-service capabilities. These solutions simplify network and security management, strengthen cyber resilience, improve operational visibility, and provide enterprises with scalable, secure, and high-performing connectivity across cloud, edge, IoT, and hybrid infrastructures.

By streamlining service delivery through intelligent automation, centralized orchestration, proactive monitoring, and flexible managed and co-managed service models, Singtel continues to help organizations reduce operational complexity while improving service reliability and business agility. Its ability to integrate best-of-breed technologies in a unified operational framework, combined with strong regional network ownership and localized expertise, enables customers to confidently scale digital initiatives while maintaining security, governance, and operational excellence.

Frost & Sullivan commends Singtel for setting a high standard in competitive strategy, execution, and customer value across multiple technology domains. By combining intelligent networking, secure digital infrastructure, AI-enabled operations, and cross-border IoT capabilities in an integrated platform strategy, the company is shaping the future of enterprise connectivity while helping organizations build resilient, future-ready digital ecosystems.

Each year, Frost & Sullivan presents its Company of the Year and Customer Value Leadership recognitions to organizations that demonstrate outstanding strategy development and implementation, resulting in measurable improvements in customer satisfaction, competitive positioning, and business performance. These recognitions honor forward-thinking companies that continuously raise industry standards through innovation, operational excellence, and long-term value creation.

Frost & Sullivan Best Practices Recognition
Frost & Sullivan’s Best Practices Recognitions honor companies across regional and global markets that exhibit exceptional achievement and consistent excellence in areas such as leadership, technological innovation, customer experience, and strategic product development. Each recognition is the result of a rigorous analytical process in which Frost & Sullivan industry experts benchmark performance through comprehensive interviews, deep-dive analysis, and extensive secondary research. The goal is to identify true best-in-class organizations that are driving transformative growth and setting new industry standards.
Contact us: Start the discussion.

Contact:
Tarini Singh
E: Tarini.Singh@frost.com

 

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SOURCE Frost & Sullivan

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