Data storage market to experience significant boost during next several years

Thursday, April 07, 2011

According to a recent report, the market for data storage, including cloud-based solutions, will experience a significant boost during the next several years, as more digital content comes into existence.

IDC predicted the amount of digital content will grow by a factor of 44 between 2009 and 2020, which has many researchers theorizing about the future of the storage market.

"We have a growing gap between the amount of digital content being created and the amount of available digital storage," said Zeeshan Gaya, the senior analyst for servers and storage at IDC MEA. "IDC estimates that, in 2009, if people had wanted to store every gigabyte of digital content created, they would have had a shortfall of around 35 percent. This gap is expected to grow to more than 60 percent over the next several years."

The increased amount of data has made storage providers - especially those in the cloud that offer managed service and central hosting - more attractive to companies with large amounts of content.

A recent study conducted by Storage Strategies NOW revealed that more than half of the companies it surveyed have plans to adopt cloud-based storage solutions in the near future.