The provider of cloud file storage is responsible for encrypting the data at rest, without compromising the performance or accessibility of files. They ensure high availability and durability of the files while accessed, reducing the rate of failure and loss. The structure of cloud file storage environments is designed with simultaneous access in mind. File retention saves companies from the possible issues of wrongly deleted files. File retentionĬloud file storage services retain deleted files for a set period of time. This allows users to write over and modify existing files without fear of losing the original copy. Some cloud file storage features include: File versioningįile storage clouds keep anywhere from a few to an indefinite number of versions of the same file for a set period of time. With a hierarchical storage system, users can create, delete, move, read, write, and modify files, keeping them organized and secure.Ĭloud-based file storage offers a variety of features that make it suitable for storing files that are accessed from numerous locations and influenced by multiple users with varying degrees of access permissions. “Businesses using the cloud effectively will benefit the most by quickly leveraging the ability to create resilient and disaster-averse systems anywhere around the world, protecting data and business application integrity, as well as support an increasingly remote workforce.” Cloud file storage featuresĬloud file storage offers persistent, fast, and flexible file storage that can be integrated with apps and user devices for easy and swift file sharing and access. “The cloud’s distributed nature is a natural fit and will be the hero in a future landscape that features survivors and victims,” says Emil Sayegh, president and CEO of Ntirety to Forbes. Overall, consumption of cloud products grew by 37% in the first quarter of 2020, according to PWC. Other industries driving demand for cloud storage services include: The Asia-Pacific region had the second-largest market in 2020 at 28.25% and a value of $43.14 billionīy industry vertical, the banking, financial services, and insurance (BFSI) sector accounted for 32.13% of the cloud storage demand in 2020.The cloud storage market segment in China was valued at an estimated $19.45 billion in 2020 and is expected to rise to $67.64 billion by 2024.North America had the largest market share in 2020 with 41.10% and a value over $25 billion.Globally, the cloud storage market is driven by a handful of regions: The market, and all its segments, is expected to see a compound annual growth rate (CAGR) of 24% during the forecast period from 2022 to 2029, reaching $376.37 billion. The cloud file storage market is a segment of the global cloud storage market, which was valued at $70.19 billion in 2021. See below to learn all about the global cloud file storage market: Cloud file storage market Mostly used for unstructured and semi-structured data types, cloud file storage allows for access to files with streamlined integration into apps.Ĭompanies with workloads that rely heavily on sharing files between users and offices can use cloud file storage to sync files, such as documents, spreadsheets, and presentations, instantly and automatically. Cloud file storage is a data storage method that delivers data remotely to servers and applications through file-sharing systems.
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