Introduction
Data storage is essential in many places where technology is involved since the use of local storage techniques can prove to be disastrous at times. Because of this, data storage market is increasingly becoming popular all over the world. Moreover, many data storage companies are trying to get into that market. In china, cloud storage is a technology that is just beginning to gain momentum in the market.
In china, the creation of backup copies was still considered a new concept. Due to this, most companies that offered this service came from overseas. According to the estimation given by Hao, CDs were used by 20 percent of medium-sized enterprises (SMEs) to back up their data, about 30 to 40 percent used external hard drives, while 40 percent backed their data on external hard drive (Taylor & Hao, 2011). The rest utilized other methods. Many Chinese were still unfamiliar with the concept of cloud storage but after a survey was conducted, it established that many businesses that took part in the survey described an ideal storage solution that was similar to a cloud storage that was private, a concept never thought of before. This is where Datavast Inc. obtained its idea from.
In china, people appear to be skeptical about the technology and as a consequence it is picking up slowly since they fear the laws of bankruptcy which are not fully developed. Companies were afraid that they could be bankrupt overnight something that could make them disappear with all the data belonging to their clients (Taylor & Hao, 2011). In China, there was also a habit of service industries selling client information, an act that made it difficult for clients to trust service companies.
In conclusion, the Chinese market is ripe since population embracing the technology is growing. The idea by Datavast Inc. to come up with private data storage products is a good one since it will be cheaper and will also help overcome fear and skepticism held by people which also barred the technology from taking off in china’s technology market.
Reference
Taylor, M & Hao M. (2011) Datavast Inc.: The Target Segment Decision. Ivey.
