With its new cloud-based ‘storage-as-a-service' offering, Verizon Cloud Storage, Verizon Business (NYSE:VZ) is responding to the corporate user's need for a more efficient way to store and get their data.
Featuring a complementary suite of data-retention IT consulting services, Verizon Cloud Storage takes the complexity of storing data by enabling businesses to manage and retrieve data over the Internet. Offered on a pay-as-you-go basis, businesses can use the service to augment storage solutions they already have in house (storage area networking and network-attached storage) or used in a stand-alone manner.
Storage has become a pressing issue for large businesses as they try to meet data retention requirements mandated by regulatory and compliance requirements. Instead of building out this infrastructure themselves, large businesses could offload this burden onto a service provider like Verizon Business.
Overall, the need for new storage solutions has become a sizeable market for service providers with cloud-based storage capabilities. Forrester Research's report "Controlling Storage Cost Amid High Growth" forecasts the storage capacity requirements are growing 20 to 40 percent each year. That's not bad market opportunity for Verizon Business and other providers to chase.
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