Local players eye bigger slice with cloud computing gains

As a cost-effective and secure method of managing and storing data and websites, cloud storage is gaining popularity in Bangladesh.

The transition from conventional storage systems to cloud storage brings with it promises of improved data loss prevention, maximum efficiency at a minimal cost, and continuous IT solutions for enterprises across a number of industries, including financial, corporate, education, and e-commerce.

According to industry participants, the domestic cloud storage market is presently worth about $20 million and is projected to grow to $46.3 million by 2025.

Policy Support is all they need

Local business owners claim that as the cloud market expands, the proportion of foreign vendors rises as well, which has detrimental effects on the government during the current economic downturn.

They emphasized the fact that paying for cloud services from international suppliers requires clients to use foreign currencies, which is now a major problem.

Local investors think that local vendors will greatly profit if the government creates a policy to keep data within the nation’s borders.

There are now no clear rules for companies to follow when choosing where to locate their data storage facilities.

Additionally, if regulations were established requiring banks and other government agencies to keep their data on the cloud, it.

Source: The Business Standard