Cloud Computing Storage to Grow

By | Oct 22, 2013

Cloud computing storage is on the rise, and that's creating new vendor offerings in the market. A new survey found that the United States is the largest revenue generator in the worldwide cloud-based storage market. The growth of acceptance of the cloud to digitally store information has created better choices for midsize firms aiming to implement the cloud at an affordable price point.

Bright Forecast

Global research firm TechNavio recently released its official forecast of the cloud storage market. The results show that the market is expected to grow at a CAGR of 36 percent until 2016. Out of all the global regions, North America is considered the largest adopter of cloud computing storage technologies. The highest enterprise adopters include the manufacturing sector and the information and communication technologies (ICT) sector. Companies in the fields of retail, health care and entertainment will also be implementing cloud storage at an aggressive pace in the future.

The report called out the emergence of mobile technologies, including tablets and smartphones, as a growth factor. Additionally, TechNavio concluded that the overall cloud storage market has seen more vendors offering services, which is resulting in a decreased cost for services.

Midsize Firms Store in the Cloud

Cloud storage growth trends are positive for midsize firms that are making business continuity more of a priority. TechNavio points out that more vendors have led to a decrease in pricing, which is key for IT professionals at midsize firms who are responsible for working with experienced vendors at an affordable price point. Smaller firms simply do not have the time, money or resources to make unnecessary mistakes during an implementation. Working with a vendor that understands the specific needs of a growing firm, from implementation to security concerns, is a very important goal.

More vendors will continue to innovate in the midsize business cloud storage solutions space. IT professionals are seriously considering this to truly implement a cost-effective disaster recovery (DR) plan. They need to be sure that they can retrieve precious corporate data in any type of emergency. Another factor that is pushing midsize firms to cloud computing storage is the deluge of data that all firms, including midsize firms, are experiencing. Thanks to the rise of mobile technologies, the consumerization of IT and third-platform technologies, smaller firms have more information to process than ever before. There is revenue to be made from digital data; cloud storage technologies are central to ensuring that a firm can manage and secure it all.

Future Data Storage

The pace of business is changing due to mobility and the deluge of data with which firms of all sizes must deal to remain competitive. Midsize firms that invest in the right kind of cloud technologies with the help of experienced vendors will ensure that they can store their data securely and at a price point that a growing firm can handle.

This post was written as part of the IBM for Midsize Business program, which provides midsize businesses with the tools, expertise and solutions they need to become engines of a smarter planet. Like us on Facebook. Follow us on Twitter.

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