BI Insights

Cloud Storage Costs

5 June, 2014

Cloud Storage Costs

meeker-storage-costs-declining

If your company has yet to migrate to the cloud because you’re worried about the bottom line, this might come as a big surprise: Cloud computing is not actually that expensive.

Amazon, a company that has a reputation for running a tight ship, is pioneering a shared model for cloud storage. The new model is rooted in the company’s “culture of frugality,” which aims to pass savings on to customers.

According to this graph from Kleiner Perkins partner Mary Meeker, it is significantly less expensive for companies to rent cloud storage than it is for them to buy their own data center, which is the traditional way to store data. Over the past 11 years, the cost of cloud storage has plummeted from a whopping $569 per gigabyte to $0.02 per gigabyte. That’s a full 38 percent drop.

The plunging cost of cloud computing is predicted to keep dropping into next year, as new technologies emerge that improve the online cloud storage space. As such, more people than ever are using the cloud.

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