BOSTON, MA – February 28, 2024 — / BackupReview.info / — Organizations worldwide are increasing public cloud storage use and budgets to accelerate innovation. According to the 2024 Wasabi Global Cloud Storage Index, an astounding 93% of organizations plan to grow their public cloud storage capacity in 2024. This rate of capacity increase is up 9 points from last year’s survey (which indicated 84% expected an increase). Commissioned by Wasabi Technologies, the hot cloud storage company, and conducted by Vanson Bourne, the Wasabi Global Cloud Storage Index uncovers the changing attitudes toward public cloud storage adoption, the factors that influence storage buying decisions, and the market’s top priorities when it comes to budget, capacity, vendor selection, billing, features and satisfaction.
Cloud storage budgets increase as more enterprises move to the cloud, but the market still suffers from expensive public cloud storage fees
“Results from this year’s Wasabi Global Cloud Storage Index show cloud storage use isn’t slowing down, in fact, many organizations are asking more of their cloud storage services; improved security, low-latency storage for frequently accessed data, and tools to improve data management,” said Andrew Smith, senior manager of strategy and market intelligence at Wasabi Technologies, and a former IDC analyst. “The 2024 Cloud Storage Index also assessed cloud storage adoption, deployment and challenges associated with emerging AI/ML workloads, showing that while nearly all organizations are planning to adopt or are already implementing AI/ML apps and services, they are taking a low-risk approach by applying new technology to internal operations first. Also, coming as no surprise, Generative AI leads the AI/ML workload adoption pack with 49% of enterprises already implementing, or planning to implement this technology at their organization.”
Over forty percent of respondents identify their organization as “cloud-first” when it comes to IT services adoption, and much of their stored data is considered “hot”
“The 2024 Global Cloud Storage Index shows organizations are vastly underestimating the cost of egress and API call fees,” said David Friend, Co-Founder and CEO, Wasabi Technologies. “Our findings show almost half of the average cloud storage bill is attributed to various data access and usage fees. We believe this unfavorable mix practically doubles total cloud storage costs. Even more concerning is the impact of these fee structures as nearly every organization expects to store and do more with their data. There is evidence that some of this growth is being driven by the need to train AI models.”
AI/ML workload adoption will catalyze infrastructure modernization to accommodate data sprawl across new environments
To read the 2024 Wasabi Global Cloud Storage Index in its entirety, please visit here — https://wasabi.com/wasabi-2024-cloud-storage-index-report/
Methodology
Wasabi commissioned independent market research agency Vanson Bourne to conduct research into cloud storage. The study surveyed 1,200 IT decision makers who had at least some involvement in or responsibility for public cloud storage purchases in their organization. The research took place in November and December 2023, and included organizations with more than 100 employees across all public and private sectors. All interviews were conducted using a rigorous multi-level screening process to ensure that only suitable candidates were given the opportunity to participate.
About Wasabi Technologies
Wasabi provides simple and affordable hot cloud storage for businesses all over the world. It enables organizations to store and instantly access an unlimited amount of data with no complex tiers or egress or API fees, while delivering predictable costs that save money and industry leading security and performance businesses can count on. Trusted by customers worldwide, Wasabi has been recognized as one of technology’s fastest growing and most visionary companies. Created by Carbonite co-founders and cloud storage pioneers David Friend and Jeff Flowers, Wasabi is a privately held company based in Boston. Wasabi is a Proud Partner of the Boston Red Sox, and the Official Cloud Storage Partner of Liverpool Football Club and the Boston Bruins.
Follow and connect with Wasabi on LinkedIn, X, Facebook, Instagram, and The Bucket.
Contact:
Natassia Culp
Senior Manager of Public Relations
press@wasabi.com
www.wasabi.com
Source: Wasabi Technologies, Inc.
Tags: Wasabi
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