Technology

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

Published

1 year ago

November 27, 2024

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

Technology

BrightParent Introduces Personalized Parenting App for Parents of Kids Ages 5 to 17

Published

17 minutes ago

April 19, 2026

BrightParent gives parents personalized support, in-the-moment guidance, and 7-day programs for everyday challenges like bedtime battles, homework conflict, big emotions, and sibling tension.

MONTREAL, April 19, 2026 /PRNewswire-PRWeb/ — BrightParent, a new parenting app for iPhone and iPad, is now available on the App Store.

“BrightParent was created as a parenting tool that can not only help in the moment, but also support families as they work through patterns that come up again and again.”

Designed for parents of children ages 5 to 17, BrightParent was created to address a gap many families run into every day: parenting advice often sounds good in theory but can feel too generic, too idealized, or too hard to use when real situations are unfolding at home.

“Parents are often trying to respond well in moments that are messy, emotional, and moving fast,” said Claire Bennett, media contact for BrightParent. “What is missing in a lot of existing advice is something that feels calm, practical, and specific enough to help with the child and situation right in front of you.”

BrightParent focuses on common parenting situations such as bedtime resistance, homework struggles, emotional outbursts, sibling conflict, screen time transitions, difficult mornings, and everyday boundary issues.

The app begins with a detailed onboarding process that helps parents build a fuller picture of their child and family context. That information helps shape the support BrightParent provides, so the guidance reflects the child’s age, the situation the parent describes, and the broader family context.

Parents can type in what is happening and receive practical guidance along with simple, natural scripts they can use with their child. For families working through recurring challenges, BrightParent also offers structured 7-day programs, including custom programs parents can create around the specific issues they want help addressing over time.

“The goal was not to build another general-purpose chatbot,” Bennett said. “BrightParent was created as a parenting tool that can not only help in the moment, but also support families as they work through patterns that come up again and again.”

BrightParent is built specifically for everyday parenting support. It is not a general purpose chatbot and does not provide medical, clinical, therapeutic, diagnostic, or crisis services.

BrightParent is available now on the App Store for iPhone and iPad.

Website: https://www.brightparent.app/

App Store: https://apps.apple.com/app/id6759067566

Media page: https://www.brightparent.app/media /

About BrightParent

BrightParent is a parenting app for iPhone and iPad designed for parents of children ages 5 to 17. It offers age-appropriate guidance, practical scripts, and structured support for everyday parenting situations, with personalization informed by the child and family context shared during setup.

Media Contact

Claire Bennett, BrightParent, 1 514-558-4664, media@brightparent.app, https://www.brightparent.app/

View original content to download multimedia:https://www.prweb.com/releases/brightparent-introduces-personalized-parenting-app-for-parents-of-kids-ages-5-to-17-302746332.html

SOURCE BrightParent

Technology

Cloverleaf Analytics Unveils 2026 Insurance Decision Intelligence Platform

Published

17 minutes ago

April 19, 2026

Pearl Holding Group Goes Live, and Company and CEO Earn Industry Accolades

HOLLYWOOD, Fla., April 19, 2026 /PRNewswire-PRWeb/ — Cloverleaf Analytics, a leader in insurance intelligence decisioning, today proudly announces the launch of its 2026 Insurance Decision Intelligence Platform. This purpose-built solution is designed to optimize data processing and analytics operations for the insurance industry, delivering an end-to-end automated data pipeline from source ingestion to Snowflake, powered by advanced artificial intelligence (AI) capabilities.

“Its implementation will free up our team to focus on strategic initiatives and better customer interactions rather than antiquated technology and business operations,” said Mike Mobley, VP of Operations at Pearl Holding Group.

This product announcement represents a significant advancement in insurance technology, transforming processes that previously took days to generate meaningful insights into mere minutes.

In addition to the platform launch, Cloverleaf Analytics has been recognized as one of the Top 50 Insurtech Providers by Everest Group, solidifying its position as an industry leader. Furthermore, Cloverleaf’s Founder and CEO, Robert Clark, has been named a finalist for Thought Leader of the Year in the PropertyCasualty360 Insurance Luminaries awards in the vendor category, highlighting his contributions to advancing the insurance industry.

“Cloverleaf Analytics has been listed in Everest Group’s Top 50™ Property and Casualty (P&C) Insurance Technology Providers 2026 research. This recognition is attributed to its coverage across major P&C lines of business and key value-chain functions, along with its continued growth in North America,” says Aurindum Mukherjee, Practice Director at Everest Group. “Its strategic investments in GenBI, conversational analytics, and AI-driven data integration within its Intelligent Insurance Platform, supported by an expanding partner ecosystem, underscore its focus on AI-led decision intelligence for P&C insurers.”

After recently announcing Oklahoma Farm Bureau Insurance as its newest customer, Cloverleaf continues to build momentum with Pearl Holding Group now live on Cloverleaf Analytics for Guidewire InsuranceNow claims. Cloverleaf is also supporting Pearl’s transition from legacy systems, with Policy operations currently being implemented.

This phased approach enables Pearl Holding Group to modernize its data infrastructure while laying the foundation for broader adoption of Cloverleaf’s Insurance Decision Intelligence capabilities.

“We are excited to benefit from the streamlined claims operations and enhanced data integrity that Cloverleaf Analytics provides,” said Mike Mobley, VP of Operations at Pearl Holding Group. “Its implementation will free up our team to focus on strategic initiatives and better customer interactions rather than antiquated technology and business operations.”

More About the 2026 Platform Launch

The Cloverleaf Analytics Insurance Decision Intelligence Platform is designed to transform how insurance organizations handle data and decision-making processes. With built-in features such as intelligent field matching, a visual rule builder, and automated ETL script generation, the platform allows companies to reduce mapping time from hours to minutes, reducing human error and standardizing transformation logic across operations.

Benefits for Customers:

Reduced Time and Resources: Transforms data processing tasks that previously took days into minutes.Enhanced Data Quality: Built-in business rules and validation mechanisms protect data integrity from the start.Increased Autonomy: Business users can manage validation logic without relying solely on IT.

Additional Key Features of the Cloverleaf Analytics Platform:

AI-Powered Transformation Suggestions: Automatically generates SQL expressions for improved data manipulation.Visual Canvas for Multi-Source Joins: Intuitive drag-and-drop interface for merging various data sources.Automated Glue Script Generation: Seamlessly create production-ready ETL scripts, removing the burden from data engineers.

“The 2026 edition of our Insurance Decision Intelligence Platform isn’t just an upgrade, it’s a paradigm shift for how the insurance industry leverages data,” said Michael Schwabrow, EVP of Sales and Marketing of Cloverleaf Analytics. “We’re moving beyond basic analytics to empower carriers with real-time, actionable intelligence that transforms decision-making, significantly reduces operational burden, and ultimately builds greater trust and efficiency across the ecosystem. This is about delivering unprecedented clarity and agility to our customers.”

Cloverleaf Analytics is proud to be a Gold and Wi-Fi sponsor at the AAIS Main Event conference taking place from April 19-21 at the Margaritaville Hollywood Beach Resort. Insurers interested in seeing how they can make better, faster decisions using Cloverleaf’s Insurance Decision Intelligence platform can sign up for a 10-minute demo in advance of the event here. Cloverleaf Founder and CEO Robert Clark will also speak on April 21 in a session titled “Advancing the Industry Through Data Contribution and openIDS,” alongside Josh Hershman of the Connecticut Insurance Department and Michael Payne of AAIS.

About Cloverleaf Analytics

Cloverleaf Analytics is a leader in Insurance Decision Intelligence for P&C insurers, helping mid-to-large carriers turn complex insurance data into faster, better underwriting, claims, and operational decisions. The Cloverleaf Insurance Decision Intelligence platform is purpose-built to help carriers easily migrate disparate data from legacy, multi-core, Guidewire and other sources into an Insurance Decisioning Intelligence data lake, regardless of where the data lives. All insurance data in Cloverleaf supports the openIDS standard format. Learn more at www.cloverleafanalytics.com.

Media Contact

Michael Schwabrow, Cloverleaf Analytics, 1 (512) 361-7173 2121, mschwabrow@cloverleafanalytics.com, www.cloverleafanalytics.com

View original content:https://www.prweb.com/releases/cloverleaf-analytics-unveils-2026-insurance-decision-intelligence-platform-302740205.html

SOURCE Cloverleaf Analytics

Technology

SIRUI Wins “Best of Show”, Unveils New Cine Lenses at NAB Show 2026

Published

2 hours ago

April 19, 2026

LAS VEGAS, April 19, 2026 /PRNewswire/ — SIRUI today received a “Best of Show” award for its Vision Prime T1.4 Full-Frame Cine Lens Series, while also introducing new focal lengths for both the Vision Prime and IronStar lens families at the 2026 NAB Show. The expanded lineups give filmmakers a more complete range of creative options, from ultra-wide to telephoto, backed by flexible mount systems.

“Winning the ‘Best of Show’ award is a strong recognition of our commitment to optical innovation,” said Lijie, CEO of SIRUI. The Vision Prime Series is SIRUI’s first cine lens lineup featuring an interchangeable mount system. This design delivers outstanding compatibility, allowing users to effortlessly switch between different camera mounts as needed and seamlessly adapt to various systems.

Enhancing cost-effectiveness and shooting flexibility

Vision Prime Series – 15mm, 75mm, and 150mm

The Vision Prime Series is a full-frame, large-aperture, compact cine lens lineup. Following the existing 24mm, 35mm, and 50mm focal lengths, the series now adds a 15mm wide-angle, along with 75mm and 150mm medium-telephoto lenses, delivering a more complete focal range. With exceptional bokeh, outstanding low-light performance, and superior optical quality, the Vision Prime Series is ideal for both content creation and professional cinematography.

The Vision Prime Series come with a variety of interchangeable mount modules, allowing one lens to work across multiple camera systems — significantly enhancing cost-effectiveness and operational flexibility.

15mm – Optimized for wide-angle imaging, perfect for landscape photography.75mm – Delivers natural compression and pleasing subject‑background separation, perfect for portraits and medium telephoto shots.150mm – Designed for close-up and telephoto shooting, ideal for detailed and macro-style photography.

Cinematic widescreen, made simple.

IronStar Series – 75mm, 100mm, and 135mm

The IronStar series delivers widescreen imagery with vintage characters and modern optical performance. With a constant 1.5X squeeze ratio, it offers filmmakers consistent, high-value tools for films, ads, documentaries, and more.

The initial set includes three lenses—35mm, 45mm, and 60mm—covering wide-angle to medium focal lengths to meet essential framing needs. The introduction of 75mm, 100mm, and 135mm lenses completes the system, forming a fully expanded ecosystem that provides comprehensive support for both commercial and artistic cinematography.

75mm – Suitable for dialogue scenes and storytelling shots, offering a natural and balanced perspective. Ideal for portraits and close-ups with pleasing compression100mm – Ideal for macro and close-up shots, capturing fine details, textures, and product features with strong subject isolation. Suited for food, jewelry and product commercials, combining close-focus capability with a cinematic perspective.135mm – Ideal for tight portraits and close-ups, delivering strong compression and excellent subject separation. Suited for isolating details and subjects from busy backgrounds in narrative films.

The new Vision Prime and IronStar focal length lenses are expected to be officially available in the second half of 2026. For further details, please stay tuned to SIRUI’s official store.

Capture Your Imagination

The NAB Show runs through April 22. SIRUI will host a series of speeches and live social media streams with filmmaking experts and talented content creators at booth C4539. The new Vision Prime and IronStar focal lengths empower filmmakers with greater creative freedom — and SIRUI continues to drive professional lens innovation for creators worldwide.

About SIRUI

SIRUI, the world’s leading anamorphic lens, lighting equipment, and camera support brand, has long been dedicated to providing filmmakers with the ultimate shooting experience. SIRUI products, known for their high performance at an affordable price, have been widely recognized and highly commended by budding filmmakers and professionals worldwide. So far, SIRUI has established an impressive customer service network around the world, as well as over 300 sales outlets and terminal showrooms.

For more information, please visit:
Official Website: store.sirui.com
Instagram: @siruiimaging
YouTube: @SIRUIImaging
TikTok: @sirui.optical
Facebook: SIRUIImaging

Contacts:
marketing@sirui.com

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SOURCE SIRUI