Last Updated on November 26, 2021 by Henry John
According to a research by Researchandmarkets.com, the cloud storage market size was valued at $46.12 billion in 2019 and is projected to reach $222.25 billion by 2027, growing at a CAGR of 21.9% from 2020 to 2017.
The cloud storage market is quite promising for growth-seeking investors, however, Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) who have a dominating hold on the market aren’t pure cloud storage stocks.
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Take Alphabet, for instance, it is heavily invested in the search engine, self-driving, and smart device market. Hence, its cloud storage proceeds along is less likely to influence its stock growth, especially when it fails to perform in other markets it is heavily involved in.
The same applies to Amazon and Microsoft.
Companies whose primary business revolves around cloud storage are most likely to see their stock grow as a direct result of their performance in the cloud storage market; it’s a no brainer.
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Hence, if you are looking for pure cloud storage stocks to invest in, here are three good stocks with great potentials to consider:
Dropbox provides secure file sharing, collaboration, and cloud storage solutions.
The company’s platform allows individuals, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features.
As of December 31, 2019, it had approximately 600 million registered users across 180 countries.
The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was founded in 2007 and is headquartered in San Francisco, California.
2. Box, Inc.
Box, Inc. provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device.
The company’s Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.
It provides its solution in 24 languages. The company serves financial services, government, healthcare, education, and life sciences industries in the United States and internationally.
The company was formerly known as Box.net, Inc. and changed its name to Box, Inc. in November 2011. Box, Inc. was founded in 2005 and is headquartered in Redwood City, California.
3. Nutanix, Inc. (NTNX)
Nutanix, Inc. develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa.
The company offers Acropolis, an enterprise cloud platform that converges virtualization, enterprise storage services, and virtual networking and platform services; Nutanix Prism, a consumer-grade control plane, which provides management and analytics; and Acropolis Hypervisor, an enterprise-grade virtualization solution.
It also offers Nutanix Calm, an enterprise cloud platform that automates the provisioning, scaling, and updating of applications; Nutanix Files, a software-defined file storage consolidation solution; Nutanix Flow, an application-centric network and policy management solution; and Prism Pro, a solution to analyse large volumes of system.
In addition, the company provides Nutanix Objects, a scalable, software-defined object storage solution; Nutanix Karbon, a turnkey enterprise-grade Kubernetes service offering; Nutanix Move solution simplifies and streamlines the enterprise cloud transition; Nutanix Era, a database services software suite; Nutanix Volumes, a scale-out storage solution for non-virtualized workloads; Xi IoT, a cloud-agnostic edge computing platform; Xi Leap, a hybrid cloud disaster recovery service that enables enterprises to protect on-premises workloads and data; Xi Frame, a cloud-native and infrastructure-independent desktop-as-a-service platform; and Xi Beam, a multi-cloud cost and security compliance optimization service, as well as developing Xi Clusters solution, which allow deployment of Acropolis on Amazon Web services infrastructure.
It serves customers in a range of industries, including automotive, consumer goods, education, energy, financial services, healthcare, manufacturing, media, public sector, retail, technology, and telecommunications, as well as service providers.
The company was founded in 2009 and is headquartered in San Jose, California.