London, 05 December 2014 – TechNavio, a tech-focused research firm has published a new report on the Global Public and Private Cloud Storage Market, which indicates that the market will grow at a CAGR of 36.93 percent from 2015-2019.
With increasing adoption of server and storage virtualization, private cloud storage has become the preferred choice for providing better functionality while adapting to the big data and social media requirements of an organization.
“Many organizations have capitalized on the trend, and have virtualized major portions of their application workloads to improve the utilization rates of storage resources, which has resulted in reduced operational expenses,” says Faisal Ghaus, Vice President of TechNavio.
Traditional networks and their operational models are unable to sufficiently handle increased traffic and changing traffic patterns.
Additionally, a huge amount of social and digital content is being stored and retrieved across networks. This is creating a pressing need for data management solutions involving automated backup, disaster recovery, and data caching in storage infrastructure.
Private cloud storage solutions are becoming integral to the IT strategies of many organizations, which will serve to drive growth in the market over the projected period.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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