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Cloud Storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, managed, backed up and made available to users over a network – typically, the internet. Users generally pay for their cloud data storage on a per-consumption, monthly rate.

Cloud storage is based on a virtualized storage infrastructure with accessible interfaces, near-instant elasticity and scalability, multi-tenancy, and metered resources. Cloud-based data is stored in logical pools across disparate, commodity storage servers located on premises or in a data center managed by a third-party cloud provider.

Source: https://searchstorage.techtarget.com/definition/cloud-storage