There’s no stopping the incessant creation and sharing of data. While most data created today has a short and finite usage lifetime, it is rarely destroyed. Data continues to accumulate in the annals of business and organizational storage resources.
“Today, applications and data are business critical,” said Lee Caswell, senior vice president of product and solutions marketing at Nutanix.
He said some analysts expect to see half of a billion applications by the end of 2023, which is how many were created in the past 40 years. That number is expected to grow by 50% by 2026.
“The data these apps create and use can bring tremendous value to companies,” Lee said.
Dealing with skyrocketing data storage demands is a top challenge for many organizations. However, as with other IT resources, cloud technology is proving to be a redeemer.
“New technologies make it easier for IT teams to facilitate application developers, who are creating apps aimed at bringing more value to the company,” Caswell said.
“These new apps are usually additive and require consistent access to data, whether that data is stored as files, blocks or objects - and whether it lives in the public cloud, the data center or at the edge,” he said.
The cloud storage market was worth $70 billion in 2021. It is expected to reach $78 billion by the end of 2022 then grow to an eye-popping $183 billion by 2027, according to a Markets and Markets report.