Growing demand for low-cost data storage and faster data accessibility, increase in cloud adoption across several industry verticals, a significant shift to hybrid cloud as primary deployment model, and growing concerns for data recovery & protection fuel the growth of the global cloud storage market. On the other hand, lack of IT infrastructure and several security concerns over cloud storage hamper the growth to a certain extent. Nevertheless, growing cloud adoption among SMEs and increasing awareness of cloud computing benefits are expected to create multiple opportunities in the market.