47 billion reasons to watch the cloud…

Research firm MarketsAndMarkets has declared there are 47 billion reasons to keep an eye on the cloud, announcing that the cloud storage market will grow to $47 Billion by 2018 at a 40% CAGR.

The report, called “Cloud Storage Market (Incl. Cloud Storage Gateways, Backup & Recovery, Data Movement & Access, Data Replication, Hsm & Archiving, Security And Storage Resource Management Solutions) – Worldwide Forecasts & Analysis (2012 – 2018),” will cost you a cool $4,650 if you want the whole thing but the always watchful eyes at Storage Newsletter distilled some of the key findings…

  • Global cloud market expected to grow from $5.6 billion in 2012 to $8.6 billion by 2013, at an estimated CAGR of 40.2% from 2013 to 2018.
  • North America commanded the largest share; i.e. 60% of the overall cloud storage market in 2012 at $3.4 billion; $5.09 billion in 2013; and is expected to reach $21.8 billion by 2018, at a CAGR of 33.8% from 2013 to 2018.
  • Middle East & Africa, Eastern Europe, Latin America, APAC (Ex-Japan) are fastest growing market and are expected to contribute $0.71 billion, $1.36 billion, $1.54 billion, and $3.46 billion respectively in 2018.

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