Object Based Storage Market - Forecast(2024 - 2030)

Report Code: ITR0470 Report Format: PDF + Excel

Object Based Storage Market Overview:

Object Based Storage Market size is estimated to reach $7 billion by 2030, growing at a CAGR of 12% during the forecast period 2024-2030. Increasing demand for Backup and Recovery, Content Distribution and Media Management, Archiving, Data Analytics, Data Lakes propelling the Object Based Storage Market growth.

Additionally, the growth of the Internet of Things (IoT) generates massive volumes of data that require efficient storage and management. The Media and Entertainment industry continues to expand, creating opportunities for OBS to support content delivery, streaming, and video-on-demand services. These factors positively influence the Object-Based Storage industry outlook during the forecast period. In February 2022 High Performance Object Data Storage module was developed to equip Big Data, Artificial Intelligence Web Streaming and was released by OVHcloud and European Cloud Operator. These factors are propelling the market in coming days.

Market Snapshot:
Object Based Storage Market - Report Coverage:

The “Object Based Storage Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Object Based Storage Market.



By Deployment Type

  • On-Premises

  • Cloud-Based

By Type

  • Private

  • Public

  • Hybrid

By Organization Size

  • SMEs

  • Large Enterprises

By Application

  • Backup and Recovery

  • Content Distribution and Media Management

  • Archiving

  • Data Analytics

  •  Data Lakes

  • Internet of Things (IoT) Data Storage

  •  Video Surveillance Data Storage

  • Healthcare Imaging Storage

  • Research and Scientific Data Storage

By End-User Industry

  • Healthcare

  • Financial Services

  • Retail

  • Media and Entertainment

  • Government

  • Manufacturing

  • Telecom and IT

  • Others

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis: 

  • The COVID-19 pandemic significantly impacted the Object-Based Storage (OBS) market. With the sudden surge in remote work and increased reliance on digital data, organizations sought scalable storage solutions to accommodate growing volumes of information. OBS providers adapted, offering cloud-based solutions to meet demand. However, the crisis strained supply chains and delayed infrastructure projects. Post-crisis, the OBS market is in recovery mode, benefitting from the continued need for flexible data storage and disaster recovery. Organizations prioritize data resilience and security, driving innovation within the industry. While challenges persist, the OBS market demonstrates resilience, fostering a promising path to sustained growth.
  • The Russia-Ukraine crisis has cast a shadow on the Object-Based Storage (OBS) market, impacting global supply chains and geopolitical uncertainties. Supply disruptions have led to delays in OBS infrastructure deployment and increased hardware costs. Additionally, heightened cybersecurity concerns have pushed companies to reassess their data storage strategies, favouring security-centric solutions. Post-crisis, OBS providers are expected to focus on data encryption and compliance as essential features, with an emphasis on geopolitical risk mitigation. While challenges persist, the OBS market's resilience is evident, as it adapts to evolving global dynamics and capitalizes on the growing importance of data security in a volatile geopolitical landscape.

Key Takeaways:

  • Fastest Growth of Asia Pacific Region : Asia-Pacific has emerged as the fastest-growing market in the Object-Based Storage (OBS) industry with a CAGR of 13.5% during forecast period 2024-2030. The region's dynamic growth is propelled by factors such as robust digital transformation, surging data creation, and expanding cloud adoption. Countries such as China and India are at the forefront, fostering demand for scalable storage solutions. The OBS market in the Asia-Pacific region benefits from burgeoning e-commerce, government-driven tech infrastructure initiatives, and increasing investments in advanced IT systems. With a maturing digital landscape and a hunger for data-driven solutions, Asia-Pacific holds a pivotal role in the OBS market's global expansion, presenting abundant opportunities for providers and investors.

  • Data Lakes to Register the Highest Demand : Data lakes have emerged as the largest market segment with the market share of 23% in 2023. within the Object-Based Storage (OBS) industry. The impact is profound, driven by the ever-increasing volumes of unstructured and structured data. OBS solutions are the backbone of data lakes, offering scalability and efficient data management. Organizations have realized the potential of data lakes for analytics, machine learning, and business insights. Post-crisis recovery sees continued growth in this segment as companies prioritize data-driven decision-making. OBS providers are focusing on enhancing data integration, security, and compliance features to meet evolving demands, solidifying data lakes as a cornerstone of modern data management strategies. For instance, in March 2022, Data Centre Dynamics published a report stating that Object based storge is emerging as the standard for data lakes specially in connection with the tools of the Hadoop ecosystem and Object based storage offers huge advantages for data lakes as it can store all types of files without the need for this redefined schema and with no limit on the volume of data.

  • Financial Services Industry Shows Fastest Growth : Financial services have showed fastest growth in the Object-Based Storage (OBS) industry with CAGR of 13.7% during forecast period 2024-2030. The impact is significant, given the immense data demands of this sector, including transaction records, compliance documents, and client information. OBS solutions are crucial for secure, scalable data storage and rapid retrieval. The post-crisis recovery demonstrates sustained growth, driven by heightened data security and regulatory compliance priorities. OBS providers are enhancing encryption and data protection features to meet stringent financial industry standards. With the recovery well underway, financial services continue to rely on OBS as a cornerstone of their data management strategies, ensuring both growth and data integrity.

  • Better Growth in SMEs : The Object-Based Storage industry is experiencing significant growth within SMEs with a CAGR of 13.4% during forecast period 2024-2030 due to its scalable and efficient data management solutions. Organizations are increasingly adopting this technology to streamline operations, enhance data accessibility, and facilitate seamless collaboration. The industry's robust performance in addressing the unique storage needs of SMEs underscores its pivotal role in optimizing resource utilization and fostering business growth. As businesses recognize the value of scalable and flexible storage solutions, the Object-Based Storage sector is poised for continued expansion among SMEs.

  • Rapid Growth of Digital Data Volumes : The rapid growth of digital data volumes has significantly impacted the Object-Based Storage (OBS) market. With a staggering influx of data from sources like IoT, social media, and online transactions, organizations face an unprecedented storage challenge. OBS solutions have emerged as a pivotal resource, offering scalable and efficient data management. This surge is evidenced by the increasing adoption of OBS across various sectors. As data continues to proliferate, OBS is instrumental in ensuring seamless storage, accessibility, and security, thereby meeting the evolving demands of the digital age. OBS is poised to remain at the forefront of the data storage landscape, addressing the exponential growth in digital information.

  • Data Security and Privacy Concerns Hamper the Market Growth : Data security and privacy concerns cast a shadow over the growth of the Object-Based Storage (OBS) market. With heightened focus on data protection and regulatory compliance, organizations hesitate to adopt OBS due to potential vulnerabilities. High-profile data breaches and stringent privacy regulations underscore the need for robust security measures in OBS systems. The market's growth is further hampered by the evolving threat landscape and the growing complexity of safeguarding data stored in OBS. To overcome these challenges, OBS providers must invest in enhanced security features, encryption, and compliance tools to rebuild trust and ensure that data remains secure, fostering growth in the OBS market.

Object Based Storage Market Share (%) By Region, 2023

Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Object Based Storage Market. The top 10 companies in this industry are listed below:

  1. Dell EMC
  2. IBM
  3. Hitachi Vantara
  4. NetApp
  5. Hewlett Packard Enterprises
  6. Amazon Web Services
  7. Google Cloud
  8. Microsoft Azure
  9. Scality
  10. Caringo

Scope of the Report:

Report Metric


Base Year Considered


Forecast Period




Market Size in 2030

$7 billion

Segments Covered

Deployment Type, Type, Organization Size, Application, End-User Industry and Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

  • Dell EMC

  • IBM

  • Hitachi Vantara

  • NetApp

  • Hewlett Packard Enterprises

  • Amazon Web Services

  • Google Cloud

  • Microsoft Azure

  • Scality

  • Caringo

1.Object Based Storage Market - Overview
    1.1. Definitions and Scope
2. Object Based Storage Market - Executive Summary
3. Object Based Storage Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. Object Based Storage Market - Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Venture Capital and Funding Scenario
5. Object Based Storage Market – Market Entry Scenario Premium 
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Object Based Storage Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Object Based Storage Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. Object Based Storage Market – By Deployment Type (Market Size – $Million/$Billion) 
    8.1. On-Premises
    8.2. Cloud-Based 
9. Object Based Storage Market – By Type (Market Size – $Million/$Billion) 
    9.1. Private
    9.2. Public
    9.3. Hybrid 
10. Object Based Storage Market – By Organization Size (Market Size – $Million/$Billion)
    10.1. SMEs
    10.2. Large Enterprises 
11. Object Based Storage Market – By Application (Market Size – $Million/$Billion) 
    11.1. Backup and Recovery
    11.2. Content Distribution and Media Management
    11.3. Archiving
    11.4. Data Analytics
    11.5. Data Lakes
    11.6. Internet of Things (IoT) Data Storage
    11.7. Video Surveillance Data Storage
    11.8. Healthcare Imaging Storage
    11.9. Research and Scientific Data Storage 
12. Object Based Storage Market – By End-User Industry (Market Size – $Million/$Billion) 
    12.1. Healthcare
    12.2. Financial Services
    12.3. Retail
    12.4. Media and Entertainment
    12.5. Government
    12.6. Manufacturing
    12.7. Telecom and IT
    12.8. Others
13. Object Based Storage Market – by Geography (Market Size – $Million/$Billion) 
    13.1. North America
        13.1.1. The U.S.
        13.1.2. Canada
        13.1.3. Mexico
    13.2. Europe
        13.2.1. UK
        13.2.2. Germany
        13.2.3. France
        13.2.4. Italy
        13.2.5. Spain
        13.2.6. Russia
        13.2.7. Rest of Europe
    13.3. Asia-Pacific
        13.3.1. China
        13.3.2. India
        13.3.3. Japan
        13.3.4. South Korea
        13.3.5. Australia & New Zealand
        13.3.6. Rest of Asia-Pacific
    13.4. South America
        13.4.1. Brazil
        13.4.2. Argentina
        13.4.3. Chile
        13.4.4. Colombia
        13.4.5. Rest of South America
    13.5. Rest of the World
        13.5.1. Middle East
        13.5.2. Africa
14. Object-Based Storage Market – Entropy
15. Object-Based Storage Market – Industry/Segment Competition Landscape  
    15.1. Market Share Analysis
        15.1.1. Market Share by Product Type – Key Companies
        15.1.2. Market Share by Region – Key Companies
        15.1.3. Market Share by Country – Key Companies
    15.2. Competition Matrix
    15.3. Best Practices for Companies
16. Object Based Storage Market – Key Company List by Country Premium 
17. Object Based Storage Market - Company Analysis
    17.1.Dell EMC
    17.3.Hitachi Vantara
    17.5.Hewlett Packard Enterprises
    17.6.Amazon Web Services
    17.7.Google Cloud
    17.8.Microsoft Azure
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The Object Based Storage Market is projected to grow at 12% CAGR during the forecast period 2024-2030.

Global Object Based Storage Market size is estimated to be $2.8 billion in 2023 and is projected to reach $7 billion by 2030

The leading players in the Dell EMC, IBM, Hitachi Vantara, NetApp, Hewlett Packard Enterprises and others.

The growth of IoT and edge computing, use of artificial intelligence and machine learning applications, The need for reliable data backup and disaster recovery solutions are some of the major Object Based Storage Market trends in the industry which will create growth opportunities for the market during the forecast period.

Rising Data Volumes, the need for extensive data analytics and big data processing are the driving factors of the market.