Enterprise Cloud Storage Spend To Double By 2028 As AI Ramps Up
CIODIVE, Friday, June 28th, 2024
AWS dominated the segment with a 30% share of the nearly $60 billion market last year, according to Omdia's analysis.
Enterprises entered an optimization cycle last year, trimming back cloud spend as the economy cooled. Storage services took a particularly hard hit, due to overprovisioning in prior years and a shift to pricey graphics processing units to fuel the emerging generative AI boom.
'There was a GPU gold rush that hurt storage spend quite a bit,' Hahn said. 'If your out-of-pocket is going towards buying these really expensive GPU services, there's less left for storage, networking and a lot of other things.'