U.S. Cloud Storage Solutions Market Size, Share, Trends, Growth 2032

U.S. Cloud Storage Solutions Industry Prospective:

The U.S. Cloud Storage Solutions market size was evaluated at $8.67 billion in 2023 and is slated to hit $26.67 billion by the end of 2032 with a CAGR of nearly 13% between 2024 and 2032.

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U.S. Cloud Storage Solutions Market: Overview

Cloud Storage Solutions provide a cost-efficient option for purchase of new mobile. Moreover, there are various alternatives for purchase & sale of Cloud Storage Solutions in the United States of America. Furthermore, there are various online portals & market spaces on which refurbished & used mobiles are sold. For instance, Gazelle and Swappa are few of the key online marketplaces.

Key Insights

• As per the analysis shared by our research analyst, the U.S. Cloud Storage Solutions market is projected to expand annually at the annual growth rate of around 13% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. Cloud Storage Solutions market size was evaluated at nearly $8.67 billion in 2023 and is expected to reach $26.67 billion by 2032.
• The global U.S. Cloud Storage Solutions market is anticipated to grow rapidly over the forecast timeline owing to a rise in the number of price-sensitive customers along with affordability of refurbished & used mobile phones.
• In terms of type, the refurbished phones segment is slated to register the highest CAGR over the forecast period.
• Based on price, the mid-priced segment is predicted to dominate the segmental growth in the upcoming years.
• Region-wise, the Northeast Cloud Storage Solutions industry in the U.S. is projected to register the fastest CAGR during the projected timespan.

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U.S. Cloud Storage Solutions Market: Growth Factors

Demand for budget-friendly smartphones to elevate the growth of the U.S. market over 2024-2032

A rise in the number of price-sensitive customers along with affordability of refurbished & used mobile phones is anticipated to prop up the growth of the U.S. Cloud Storage Solutions market. Swift breakthroughs in smartphone technologies leading to short lifespan of mobile equipment has led to humungous demand for Cloud Storage Solutions in the U.S. Moreover, a rise in the online retail activities and massive increase in the costs of new mobiles can proliferate the size of the market in the U.S.

U.S. Cloud Storage Solutions Market: Restraints

Non-uniformity in the costs of product of same brand can slow down the industry growth in the U.S.

Lack of product standardization associated with quality assurance and grading of products along with non-uniform protocols governing sale of the product can hinder the growth of the U.S. Cloud Storage Solutions industry. Moreover, concerns over longevity of the product can obstruct the industry growth in the U.S.

U.S. Cloud Storage Solutions Market: Opportunities

A rise in the collaborations & alliances between business players is likely to define the market growth in the U.S.

An increase in the efficient value-added services including data transfer, equipment repair, and screen replacement is anticipated to open new facets of growth for the U.S. Cloud Storage Solutions market. Expediting partnerships between various businesses and smartphone manufacturers has enhanced the demand & supply of refurbished as well as used mobile phones, thereby spurring the market size in the U.S.

U.S. Cloud Storage Solutions Market: Challenges

A prominent scaling up of data breach cases & hacking has led to reduction in the product demand across the U.S.

Growing quality concerns along with easy availability of duplicate products can put up a big challenge in the growth of the U.S. Cloud Storage Solutions industry. Moreover, surging data privacy concerns and low access of particular product brands can restrict the growth of the industry in the country.

U.S. Cloud Storage Solutions Market: Segmentation

The U.S. Cloud Storage Solutions market is divided into type, price, and region.                                          

In terms of type, the U.S. Cloud Storage Solutions market is bifurcated into refurbished phones and used phones segments. Additionally, the refurbished phones segment, which gained approximately two-thirds of the market revenue share in 2023, is anticipated to register the fastest rate of growth yearly during the timespan from 2024 to 2032. The main factor bolstering the segmental expansion can be due to rise in the sale of refurbished phones owing to their affordability and high-performance.

On the basis of price, the U.S. Cloud Storage Solutions industry is sectored into low-priced, premium, and mid-priced segments. In addition to this, the mid-priced segment, which accrued about 51% of the industry share in 2023, is set to lead the segmental expansion in the U.S. in the forecasting timeline. The segmental surge can be due to a rise in the performance of these products along with their inexpensiveness. 

U.S. Cloud Storage Solutions Market: Report Scope

U.S. Cloud Storage Solutions Market: Regional Insights

Midwest region of the U.S. is slated to lead the market surge over 2024-2032

Midwest region, which accrued 63% of the U.S. Cloud Storage Solutions market share in 2023, is set to retain its dominating position in the U.S. market in the ensuing years. In addition to this, the regional market expansion in the forecast timeline can be attributed to an increase in the demand for consumer goods such as smartphones in the region. Moreover, an increase in the economic activities in the region will further spearhead the growth of the market in the Midwest part of the U.S. Moreover, rise in the establishment of tech firms will translate into huge product demand in the near future.

The Northeast Cloud Storage Solutions industry in the U.S. is predicted to record the highest rate of expansion annually within the next few years. The growth of the industry in Northeastern part of the U.S. can be due to flourishing e-commerce activities, affordability of the products, and presence of key players in the region.

U.S. Cloud Storage Solutions Market: Competitive Space

The U.S. Cloud Storage Solutions market profiles key players such as:

• eBay
• Apple Inc.
• Verizon Communications Inc.
• Walmart
• Paytm
• Cashify
• AT&T Inc.
• Samsung
• Huawei
• Yaantra
• Amazon

The U.S. Cloud Storage Solutions market is segmented as follows:

By Type

• Refurbished Phones
• Used Phones

By Price

• Low-Priced
• Premium
• Mid-Priced

By Region

U.S.

• Northeast
• Midwest
• South
• West