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Decentralized Storage Market Share

Report ID: GMI12452
Published Date: Nov 2024
Report Format: PDF

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Decentralized Storage Market Share

Decentralized Storage Company Market Share, 2024

The Graph and Storj Labs hold a market share of over 5% in the decentralized storage industry. The Graph focuses on partnering with blockchain networks and decentralized applications (dApps) to grow its Web3 ecosystem. By integrating with blockchains such as Ethereum, Solana, and Polkadot, the company enhances its role as a key data indexing protocol for decentralized platforms. This strategy attracts developers looking for efficient data querying solutions. Furthermore, the company builds a strong developer community through grants, incentives, and educational programs.

Storj Labs targets enterprises by highlighting its data security, privacy, and compliance advantages over centralized cloud storage. Using decentralized technology to encrypt and shard data across multiple nodes, the company appeals to sectors such as healthcare, finance, and media that need secure and compliant storage. The company collaborates with edge computing platforms and IoT providers to meet the growing demand for decentralized storage.

Decentralized Storage Market Companies

Major players operating in the decentralized storage industry include:

Akash Network
Arweave
BitTorrent (BTFS)
Bluzelle
Cere Network
Filecoin
InterPlanetary File System
MaidSafe
Storj Labs
The Graph

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of decentralized storage reached USD 622.9 million in 2024 and is set to grow at a 22.4% CAGR from 2025 to 2034, driven by the rising demand for data privacy and security.

The public cloud segment held over 50% market share in 2024 and is expected to surpass USD 2 billion by 2034, as it offers flexibility and quick scalability for growing data storage needs.

The North America market accounted for 40% of the revenue share in 2024, led by concerns over data sovereignty and compliance with international regulations such as GDPR.

Key players in the industry include Akash Network, Arweave, BitTorrent (BTFS), Bluzelle, Cere Network, Filecoin, InterPlanetary File System, MaidSafe, Storj Labs, and The Graph.