Cloud storage is the archiving, organizing and distribution of data consolidated in virtualized storage tapes of various physical hardware. In short, it is to store the data somewhere that can be accessed by anyone as long as they have corresponding permissions.
Virtualized technology will create storage spaces from physical hardware systems, such as storage servers, based on which the cloud environment is built. These resources are programmed by management tools to operate like individual resources. Users can access these cloud environments via a self-service portal supported by automated software and dynamic resource allocation technologies.
The explosion in data volume worldwide has brought about a continuously growing demand for data storage, driving the rapid development of the entire storage market. According to IDC, the global cloud storage industry market was $30.7 billion in 2017 and is expected to grow to $88.91 billion in 2022.