TechNavio’s market research analysts predict the Global Cloud Based Storage Market is expected to grow at a CAGR of 41.3 percent.
The report: ‘Global Cloud Based Storage Market 2010-2014’ which focuses on Americas, EMEA, and APAC regions indicates the market is currently driven by the need for flexible storage capability and scalability.
Market Drivers For the Global Cloud Based Storage Market
“In today’s dynamic business environment, organizations cannot predict or forecast the volume of data they will handle and store. Traditional storage limits the volume of data storage and increases handling cost. In cloud based storage, the capacity can be increased based on customer requirements far more easily in comparison with traditional methods,” report TechNavio analysts.
In spite of the demand for cloud based storage, constantly increasing government regulations hinder the growth of this market. However, increased IT spending will have a positive impact on the market growth.
The Global Cloud Based Storage Market is marked by the increasing adoption of cross-cloud storage solutions. This makes the study an important one for companies to fully understand the potential in the market, providing insightful research and intelligence to formulate their own strategy.
Companies mentioned in this report include: Amazon.com Inc., EMC CORPORATION, NetApp Inc., and BT Group plc.