In the 21st century, data is being consumed and stored at an astronomical pace. The availability of the internet has grown exponentially since its inception, with the entire web now accessible in the palm of your hand. Businesses are moving away from storing data in filing cabinets and toward digitizing information and on-demand analytics.
The digital age has also begun to move into homes with the expansion of the Internet of Things, commonly referred to as IoT. Homeowners can stay connected to everything in their house through the IoT, from remotely speaking with someone who knocks on their front door to making sure their oven is turned off when they are not home.
This growth will only continue to rise as we move to 5G networks, increasing speeds for IoT products, virtual reality (VR), and mobile device streaming. According to Tech World, 5G is expected to be about 3 times faster than 4G and have download speeds of 10,000 MBPS (see Figure 1).
Internet integration into our everyday lives has become the new normal. According to Cisco, global IP traffic in 2016 averaged 96 exabytes (see Figure 2) per month and is expected to hit 151 exabytes in 2018 with an average growth rate of 24% from 2016 – 2021. To support this growth, according to a recent blog post that focuses on data storage strategy, the cloud storage industry hit $46.5 billion in spending in 2017, an increase of over 20% from 2016, and that number is expected to continue increasing in the coming years.