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Cloud storage is threatening to overtake traditional on-premise storage spending. Research from the Enterprise Storage Forum found that while nearly 40 percent of companies say that HDD storage continues to be their primary storage data media, the number of businesses saying that they use cloud storage as their primary data storage has grown to be well more than 30 percent.
Cloud storage is expected to surpass other types of storage in terms of spending soon. More than 50 percent of businesses say that over the next two years that they expect to spend mostly on cloud storage, as opposed to Flash/SSD, HDD or even tape storage options.
Cloud is becoming the preferred solution when it comes to data backup and recovery. The use of physical media is expensive. There is not only the cost of the media itself, but there are also costs for transporting the media offsite. Cloud storage cost is declining rapidly. The use of cloud storage as the primary means for performing backups increased from 23 percent of businesses in 2016 to 36 percent in 2018. Nearly 60 percent of businesses in 2018 now use cloud storage for at least some of their backups.