Global cloud based storage market is expected to witness brisk growth over the forecast period owing to increase in demand for big data storage. Companies need to store huge data for business purposes and cloud based storage provides an easy platform for the same. Such operational benefits are expected to fuel market growth and development in the near future.
Cloud based storage is a service model for the data storage under which digital data is stored in a logical set of pools. This model is used to maintain, back up & manage the large data set and allow easy accessibility to users over any available network. The physical environment for the stashing is managed and owned by a hosting company. These hosting companies are accountable for information accessibility & availability along with protection and running the entire system in actual physical environment. Organizations buy available capacity from the provider company to store applications or organizational information.
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In the recent past, it has been observed that rapid cloud storage system adoption has resulted in a higher demand for gateways. Gateway is software or hardware based appliance which resides on the customer premises and serves as a link between the remotecloud based storage systems and local applications. As companies need to pay only for the space that they use for data storing, it reduces operational expenses for the companies. Thus such benefits are expected to propel the cloud based storage market aheadin the near future.
These systems also have other benefits such as reduced energy consumption when compared to physical storage systems. Businesses have choice between on-premises and off-premises cloud space option or a mixture combining these two, depending on business decisions and information type. Responsibility for maintenance operations for these storage systems belong to the hosting companies, thus sparing the user companies from additional expense.
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This market has witnessed huge popularity in recent years owing to benefits such as information security during natural disasters such as floods, earthquakes and hurricanes. These systems have sound back up capabilities with multiple backup servers located in different places. They provide immediate access to a broad range of applications and resources hosted by another organization via web interface.Thus these above mentioned advantages related to adopting such systems have resulted in the rapid increase in its popularity over recent past. Benefits including easy accessibility to the stored data from any place at anytime have been made possible by few vendors via interfaces such as mobile applications. Simple &quick data sharing facilities coupled withhuge storage space at reasonable price is presumed to assist the market over the forecast period.
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