Statistics

Prerequisites

I recommend that you read the sections:

• Cloud Storage presents the genesis and market of the Cloud, with an introduction to trends and future technologies integrated into data storage solutions,

• DePIN Storage explores the world of decentralized data storage technologies, with a detailed analysis of the players in this emerging and exponentially growing segment.

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Introduction

According to Deloitte Insights, companies allocate 10.9% of their IT budgets to cybersecurity, yet vulnerabilities persist. These centralized processes make it challenging for companies to estimate the risk and weaken their privacy and governance.

Due to a lack of trust in centralized cloud providers, 93% of organizations use a multi-cloud strategy, and 87% combine public and private clouds in hybrid environments.

This approach has advantages and challenges. A Flexera report says around 30% of cloud spending is wasted due to inefficiencies in cost management with the pay-as-you-go approach, mismanagement of different providers, and lack of optimization affecting businesses' privacy and governance.

DeStor says decentralized storage (DePin) is increasingly being evaluated for hybrid and multi-cloud implementation as a viable alternative solution for 62% of IT decision-makers. The jointly developed solution between Google and Filecoin proves this trend.

Yet 72% are not using DePin solutions, citing the complexity of integrations, poor quality of service (QoS), compliance concerns, unprofitable storage operators, and slow retrieval speeds, making it suitable only for cold storage.

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Overview of Cloud Market

The data storage provider is a centralized or decentralized network that enables companies and individuals to host their data via services or applications. One service will upload a file to a server without further processing. Another provider may offer to rent servers where you will store your data, but you will not be able to compute the data on these servers.

📈 According to Fortune Business Insights, cloud data storage market reached:

• A value of 108.69 billion USD in 2023 with 23.4% CAGR.

• This segment will reach 472.47 billion USD by 2030, driven by the need for larger data storage capacities in use cases.

• In 2023, users produced over 120 billion terabytes, but only 0.015% reached a centralized cloud.

• This sector is subject to a growing number of regulations and demands for more secure, privacy-friendly solutions. This is having a major impact on centralization solutions, which are facing heavy spending on cybersecurity (a market worth over 100 billion by 2023) to attract new business.

📈 Another report from Synergy Research Group offers a quick overview of enterprise dominance:

• The Cloud data storage market as a whole is worth 63 billion USD in Q1 2023, as opposed to 53 billion in Q1 2022.

• The market is made up of various players: Amazon Web Service (32%), Microsoft Azure (23%), Google Cloud (10%), the next 20 companies (26%) and other solutions (8%).

📍In 2023, we interviewed for 3 months to 100 individuals in France (lawyers, business executives, developers, or IT dorectors) with experience of a traditional cloud data storage solution. Here is some results:

• 60% were concerned about the dominance of BigTech solutions on the issue of traceability and privacy protection.

• 92.5% of them prefer a solution from the Tech giants over other solutions because of its technical efficiency and deployment time.

• 72.5% say DePin solutions are promising for reasons of competitiveness, traceability, interoperability, privacy and security but consider existing solutions as “not suitable”.