The global cloud storage gateways market is anticipated to experience substantial growth over the forecast period due to the surging emphasis on data as an intangible asset and the readiness of vendors to utilize this opportunity by providing customized services for cloud systems access. Cloud services gateways can transfer progressive data to the cloud systems in the event of a system crash, thus providing better disaster control to business organizations and cloud service providers. Most business sectors such as BFSI, healthcare & life sciences, and research & education are experiencing a data management crisis by generating data up to one Exabyte in terms of volume. Consequently, the above-mentioned sectors are expected to be major clients for cloud gateways access as they would save the money that would be invested in acquiring storage systems along with ensuring data mobilization.
The ever-increasing volume of data on digital networks among government agencies and private enterprises is expected to be one of the major drivers for cloud storage gateways market. Gateway providers normally reduce data redundancy and surge the compression capabilities to utilize bandwidth resourcefully and mobilize the data, which would serve as another driver for market growth. Reduced digital footprint for low service costs is anticipated to serve as one of the factors that drive cloud storage market growth.
Market entry requires substantial capital investments and sound technical expertise, which are anticipated to serve as major hindrances as most the enterprises lack these abilities. A major challenge for cloud storage gateways providers is the necessity for effective disaster control and data backup services. Data security on cloud storage is another operational challenge that cloud storage gateways providers are expected to face over the forecast period. Cloud storage gateways solutions are projected to be used in storing primary data, which indirectly necessitates resourceful cloud data security solutions.
The cloud storage gateways market can be segmented by type into physical and virtual appliances. Based on end-use, the gateways can be bifurcated into SME’s solutions and large enterprise solutions. The gateways can also be classified on the basis of architectural models deployed in the market into cache devices, copy devices, and tiering devices.
The cloud storage gateways market in Europe is anticipated to grow at a substantial rate due to their efficient management practices incubating cost reduction by achieving considerable savings in storage device installation. SMEs in Europe are expected to have a higher inclination for adopting cloud services than the larger enterprises due to their budget constrictions. Cloud storage gateways are anticipated to play an important role in cloud accessibility irrespective of the cloud being private, public, or hybrid.
Key companies offering cloud storage gateways include EMC, Microsoft, CTERA Networks, Amazon, Emulex, F5 Networks, and NetApp Inc. Market leaders are collaborating with both, cloud-based application and virtualization vendors to increase the cloud storage gateways adoption in network storage functions.
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In contrast to its related industries like consumer electronics and semiconductors, the data center and communications infrastructure industry is expected to be more buoyant with continued strategic investments made to support the increased network traffic and data usage for remote working during the lockdown phase. From school closures necessitating students to use virtual offerings (Google Classroom ) to the governments using business analytics services (Power BI) for communicating virus updates, the demand for communication services and related infrastructure has witnessed an unprecedented rise amidst the global pandemic. Digital services including telemedicine are expected to remain popular even after the pandemic is contained, thereby ensuring strong growth in the communication infrastructure industry. The report will account for Covid19 as a key market contributor.