Cloud-based data archiving Vs, cloud backup market, and keys trends in Global storage as a service market

on


For those who are unfamiliar, the technology landscape in the cloud archiving services has evolved from the use of eDiscovery content search tools to artificial intelligence which is gaining popularity in the market.

According to Technavio, the global cloud archiving market is expected to exceed USD 4.5 billion by 2020, growing at a CAGR of over 37%.

It is indispensable to recall that, Cloud-based data archiving is different from cloud backup. Cloud backups are used to recover important enterprise data in the event of a disaster while archived data is compressed forms of historical data. 

It is also important to recall that, storing archived data in a cloud is increasingly more cost-effective compared to storing and maintaining large chunks of non-critical data in an on-premise infrastructure. 

Cloud archiving services must provide high security, long-term data retention in accordance and should comply with data regulation policies of the region. Archived data in a cloud must be protected from tampering or overwriting and has to be made available for specific end-users when required through a graphical user interface (GUI). 

Google offers cloud data management solutions based on machine learning. Large enterprises in the government, BFSI, education and healthcare sectors are the primary adopters of cloud archiving services.