The long-term retention and backup requirements of many organizations continue to grow as their data estate grows. The long-term preservation market provides an opportunity for a higher durability service to store copies of high value digital assets in as many places, with as many types of media as possible, to eliminate the chance of data loss. The ability to store large volumes of such “long-term preservation” data, largely depends on enabling storage technologies that are lowest cost than any storage technology that exists today, such that cost to store data is near zero.

The cloud storage market is expected to exceed $390B by 2028. Data growth is driven by new cloud-native applications incl. AI/ML, continued enterprise application migration to the cloud, and the continued growth of hybrid deployments . This explosive growth in cloud storage is expanding the manner in which the underlying storage technologies - HDDs, Flash, archival media - are used by the cloud storage platform, and is also driving the need for innovation in storage media technologies.