Cloud Storage Subscriptions to See Triple Digit Growth

The volume of cloud storage subscriptions services by companies will experience explosive growth globally, reaching 500 million this year, compared to 300 million subscriptions made in 2011, encouraging businesses of all sizes and business sectors to enter the market.

This is indicated in a report by consultancy firm IHS iSuppli, which provides that subscriptions to cloud storage services will reach 625 million in 2013, registering a robust growth of 25 percent, a trend that will continue in subsequent years until at least 2017, which is estimated to reach $1.3 billion.

“In an environment where mobile devices like smartphones and media tablets handle broadband data on a near-ceaseless basis, businesses are realizing the importance of cloud services in allowing consumers to manage, store and sync content across their devices,” said Jagdish Rebello, Ph.D., director for consumer & communications at IHS. “And with companies casting about for new viable business models in order to monetize data traffic, cloud-based services could help lead firms into the next revolution of the wireless industry—or at least remain pertinent in the new mobile broadband paradigm. However, providing cloud services is not profitable as a standalone service, challenging companies to identify value-added services that could generate revenue.”

IHS iSuppli notes that interest in cloud storage services offer is being extended to companies of all types and condition – from wireless providers and mobile network providers, which are those with control over the broadband spectrum, the Giants corporate as Amazon, Google, Microsoft and Apple, through independent suppliers and specialized cloud storage like Dropbox, Barracuda, Carbonite, SugarSync, Synplicity, Funanbol and Mozy.

Overall, cloud computing storage will see massive change as people will start storing digital pictures, video, music and files across multiple clouds and devices. Cloud storage will be a game changer, representing a fundamental shift from storing personal contents to additional mobile and connected devices storage including ebook readers, cameras, camcorders, media tablets, Internet-enabled TVs and connected car systems.

Google’s offering in cloud storage service lets users upload personal music, to which they can listen anywhere. Apple’s iCloud allows users to purchase, store and access content in cloud. Similarly, Dropbox now has more than 50 million users.

Competition in the long run can bring a wide array of cloud service and storage solutions from different cloud vendors, but at the same time cloud storage providers will also find it difficult to remain financially viable.