New market research reports reveal how data storage and video gaming are going to fuel to the cloud-computing market.
Cloud computing has exploded in recent years, with the Global Language Monitor (GLM) even naming it the "Phrase of the Year" for 2009. Also known as "on-demand computing," it leverages the power of remote servers to execute applications, upload and download data, and perform other operations. Instead of running applications on a local machine, for instance, companies can run them from a remote server, relaying the data to their computer.
Even if you are unfamiliar with the nuances of cloud computing, chances are you've used it at some point in time. Google Drive, Microsoft OneDrive and Apple iCloud are just a few examples of well-known cloud platforms. Other big names in the cloud-computing industry include Amazon, IBM, Comcast, Cisco, Oracle, and HPE.
According to the Global Cloud Storage Market Forecast 2015-2021 report published by ReportsWeb, the cloud data storage market is expected to grow at 29% compound annual growth rate (CAGR) from 2015 through 2021. As companies continue to increase their use of email, video surveillance, social media networking, and business automation, it pushes the demand for data storage services. One option is store data locally on a machine owned and operated by the respective company, but a more sensible option is to use a cloud-based storage service.
Among other things, cloud data storage services offer the benefit of increased accessibility. Whether you are at home, at work, or away on vacation, you can access your stored files from any Internet-connected computer or device. But the report highlights the hurdles of security faced by cloud storage providers -- something that could hinder its growth.
There's more to the cloud-computing market that just data storage, however. The Global Cloud Gaming Market,- Trends & Forecast: 2015–2020 report published by Reportstack reveals the ever-expanding market of cloud gaming, including trends and industry insights up through 2020. Many companies already offer cloud gaming services, such as NVIDIA's GeForce Now. Gamers simply pay for a subscription to the service, usually either monthly or yearly, to access full-length games on demand. Researchers also cite social media games and smartphone games as being two major contributing factors to this expansion.
Cloud gaming is following in the same footsteps as CDs. It wasn't long ago when the compact disc was the primary platform on which to store and access audio files. But now music is primarily enjoyed either digitally or through a streaming service like Pandora or Spotify. Industry experts predict this will likely happen to the video game market as physical discs are replaced by digital downloads and on-demand cloud gaming.
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