Cloud object storage is the secure cloud storage service that is used to store the unstructured data

The rising demand for data security and the protection of data by various enterprises is a major factor booming the growth of the cloud object storage market. Further, a rise in demand for technologically upgraded services and high demand for the fast transfer of data is likely to influence the demand for the cloud object storage market. However, piracy concerns might hinder the growth of the cloud object storage market. The increasing adoption of cloud object storage as it minimizes the IT infrastructure cost and increasing demand for a cost-effective solution from enterprises are expected to drive the growth of the cloud object storage market.

Cloud object storage is the secure cloud storage service that is used to store the unstructured data. It can store, process, and access massive amounts of data and features imperceptible bandwidth and capacity expansion, making it a perfect data pool for big data computation and analytics. Growing digitization across the globe coupled with a rise in the adoption of technologies such as big data analytics, Internet of things (IoT), and cloud computing is anticipated to fuel the growth of the cloud object storage market over the forecast period.

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Some of the key players influencing the market are

Alibaba Cloud, Amazon Web Services, Inc., Cisco Systems, Inc., Google LLC, Hewlett Packard Enterprise Development LP, Hitachi Vantara Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation, Tencent Cloud