The cloud storage is one of the most trending and highly adopted data storage platform, which is flourishing the data storage market growth. The platform along with high storage capacity offers multiple cloud model options as per customer requirements.
The digitalization of the world led industries to generate a tremendous amount of data. As the paper-based work is replaced by computerized data, the demand for storage devices has been increased exponentially. Although, rapidly increasing adoption of smartphones, laptops, and tablets are boosting the demand for enhanced data storage capacity which is supplementing the market growth.
To stay ahead of the curve, key players in the data storage market are enhancing their product portfolio by leveraging innovative technologies, to stay ahead in the market competition. Although, many of the market players are expanding their business of data storage by offering cloud solutions. Partnerships and collaborations are carried out to expand the product portfolio by leveraging advanced technologies. Moreover, key players are also focused on the enhancement of their product portfolio to expand businesses.
KEY INDUSTRY DEVELOPMENTS
February 2020: Egnyte, Inc. patented protection services and separate file sharing in the cloud has turned into a unified content service. The services are offering better analytics with machine learning technology and tiered storage.
June 2019: Microsoft Corporation collaborated with Oracle Corporation to run and migrate critical enterprise workloads across Oracle Cloud and Microsoft Azure. The collaboration is expected to offer advanced Analytics with AI and autonomous database.