In 2020, the value of the cloud storage market reached USD $41.8 billion, according to research recently published by Global Industry Analysts, with the pandemic being its great impetus in migration to the cloud.
By Hugo Markl
Santiago de Chile.- Evolution has been a constant in history since the appearance of man, passing through the various technological revolutions, change is part of the DNA of the human being and also of technology and companies.
The experiences of the last two years have made the words change, flexibility and adaptation more and more common in the environment. The pandemic and the increase in teleworking meant challenges for companies, given precisely by remote work, a greater demand for bandwidth in connections, more use of the cloud, and of course storage.
According to recently published research by Global Industry Analysts, in 2020 the value of the cloud storage market reached $41.8 billion, with pandemic-accelerated digitization being its big driver in cloud migration.
The value of the market is expected to grow at a higher compounded year-on-year rate than expected before the health crisis, rising 19.2% annually through 2026, by which time it is expected to reach $124 billion.
We also see that this trend of going to the cloud is much stronger and faster in small and medium-sized companies than in large companies. We note that in the latter, the critical and most sensitive data is still stored in the Data Centers themselves (on premise); taking less sensitive data or applications to the cloud. Use cases like long time retention are an example of this.
We also see a strong trend for hybrid clouds, which allow customers to move data and applications between different ecosystems, given that the costs of moving everything to the cloud versus on-premises technologies are still higher in many cases.
The challenge: stability
Today, the world needs its storage architectures to evolve quickly and steadily, which means new storage fabrics must be ready for constant transformation, with new performance requirements and lower costs.
Regardless of whether the goal is high performance, balanced cost-performance, or lower cost needs, everyone must respond to the pressure of change. Even the end of life of a storage solution should be painless, as the transition to new technologies takes hours or days.
Storage solutions emerging from the pressures of the age of change are defined by three characteristics: efficiency, resiliency, and agility. While all three terms are deeply ingrained in the DNA of these technologies, evolutionary pressure is hard at work to dramatically rewrite the code that defines each, thereby driving more efficiency.
As the cloud will continue to gain prominence in 2022, providing all businesses with the agility, scalability, and flexibility they need to cope with sudden change and continue to innovate, so will on-premises storage technologies.
This forces manufacturers to continue innovating in solutions that allow companies to differentiate themselves from their own competitors. For this, development never stops, and more and more technologies such as Artificial Intelligence or Machine Learning are incorporated; which generates an increasingly faster access to data, intelligently and safely.
There is enormous growth potential, and we have to continue working to deliver the widest range of solutions that allow companies to innovate faster, be more efficient, provide better services, and have their data protected. Since we understand that the challenge that customers have is living with hybrid worlds.
Hugo Markl is Hitachi Vantara Sales Manager for Latin America