In 2020, the cloud storage market grew by $30 billion and, with a solid 10% annual increase, it is one of the main current investment trends. We tell you about its advantages and disadvantages in this article.

Services related to Big data lead the top three priorities in investments worldwide, among these, cloud storage alone generated some $44 billion during 2019, and there has been an annual increase of at least 10%, with Microsoft and Amazon being the main players in this sector.

However, the size of the cloud is growing every year in response to demand from the more than 3.5 billion users browsing the internet and storing public, private and mixed content, and with it also grows the opportunities for investment in the main form of data storage of 2021. Let’s explore the advantages and disadvantages of this type of service.

Advantages of cloud storage

Elimination of the need for physical storage space: from storing important documents such as contracts or backups of work done to school or university notes becomes easier with online storage, it is no longer necessary to store this information in boxes or shelves, taking up much space.

Accessibility: while with physical storage it was essential to go to the place where the papers or disks were stored in order to access the necessary information, with cloud storage it is enough to have the access data to the account with which the information is stored, being able to access from anywhere in the world.

Security: papers, books, disks and more are exposed to the curious eyes of people who come across them, but also to elements that can damage them, while this is more difficult with a private cloud storage, to which only designated people have access and where security protocols can be used to make it even safer.

Greater ease of use: if you need to work on documents for translations or request the signature of a client on the other side of the world for a contract, you can simply install a translation plug-in or convert the document to PDF format to request signatures. The cloud gives us access to many tools that facilitate daily work with documents or other content (such as video editing, audio transcription, etc.).

 

Disadvantages of cloud storage: cybersecurity challenges

A large percentage of people using the cloud have poor cybersecurity knowledge, so their information can be exposed to hackers or hacked by insecure passwords or by sharing information about their personal data on the Internet in general.

Even if you hire a private cloud storage service, cybersecurity challenges are greater every day, so it is necessary to learn about advances in digital security protocols and what measures are taken by the hosting or server we use to store our information.

This, in particular, is a great area of investment and research opportunity for cloud storage services.