Video: 10 Minute IT Jams - An update from Wasabi Technologies

Cloud storage is changing fast. In a wide-ranging interview, Andrew Sands, country manager for Australia and New Zealand at Wasabi Technologies, discussed the company's approach, market position, and the trends shaping the digital storage sector.

Wasabi positions itself in a highly competitive industry dominated by global giants, but Sands was quick to highlight what sets them apart. "Wasabi provides cloud storage - specifically S3 compatible object storage. We have one product, we like to keep things simple for our customers," he said, referencing the company's focus on a single, straightforward storage tier. Unlike some of the larger cloud providers, Wasabi avoids complexity, offering just one tier comparable to the 'hot' storage tiers of its competitors.

The company's mission is ambitious: "Wasabi's mission is to transfer the world's data to the cloud and we want to be the cheapest and fastest cloud storage out there," Sands said. He also emphasised the platform's versatility, citing a strong ecosystem of over 300 Technology Alliance Partners whose solutions "are integrated with Wasabi's storage and able to plug right in."

When asked about the market, Sands was candid about Wasabi's status as a relatively new entrant. "We were founded about seven years ago, we've been live in the market for the past five years," he explained. The behemoths of the sector loom large, but Wasabi's pitch is built on three pillars: simplicity, affordability, and predictability.

"We're simple in that we have no cold tiers, just a single tier of hot storage," Sands said. Predictability is also a key advantage. "This is really important for CFOs and CIOs - we have no API charges and no egress charges to take you by surprise. You will always know what your cost will be each month based on the storage capacity that you've used," he added. Affordability, central to Wasabi's offering, is brought into sharp focus by cost comparisons: "Wasabi is up to 80% cheaper than AWS S3, Azure, or Google Cloud, and this is due to our cost efficiencies but also the fact that we have no hidden charges."

Looking ahead, Sands pointed to several trends transforming cloud storage. "There's a raft of really interesting things happening in the industry that are impacting and driving the use and adoption of cloud storage," he said. The Internet of Things (IoT) stands out, in his view, as a "big one" that is fundamentally changing how data is stored and accessed. With data volumes exploding - "IDC estimates there'll be 80 billion zettabytes of data by 2025" - the demand for cost-effective and high-performance storage is increasing sharply.

Sands provided examples from various sectors to illustrate his points. "A lot of these IoT-based industries rely on high-performance storage to get these real-world benefits, like uncovering medical trends quickly or accelerating genome sequencing from days to a matter of hours," he said. For sports organisations, the challenge is staggering. "Wasabi works with a huge number of sporting leagues and teams. These teams want to use AI to deliver personalised content to fans, and they have a mountain of video material - that data is just growing and growing," he explained.

He noted a shift in surveillance: "There's a huge trend from on-premise to the cloud in the surveillance industry, and sectors like education, local government and healthcare are likely to be the first movers." As data sovereignty becomes a hot topic amid global upheaval, Sands said, "It's more critical than ever for organisations to think carefully about where their data is located and help avoid potential catastrophic data loss."

The ever-present threat of cyberattacks is also a factor bolstering demand for online storage. "Cyber threats are an emerging and ongoing trend, and no doubt these will persist and become increasingly complex. We expect to see more and more IT and security decision makers making use of cloud-based backup as a central part of their security for ransomware protection," he said.

Cost also remains a defining issue in the sector's future. "We think cloud costs will decline. Wasabi's leading the charge in this, and we know that there's been no price reductions amongst our major global hyperscale competitors on a per gigabyte price since 2017, so we think that 2023 might be the year that they're forced to come to the table and start to drop their prices - let's see," Sands remarked.

On the Asia-Pacific front, Wasabi has been ramping up investment. "Wasabi entered the Asia Pacific market in 2019 with our initial presence in Japan," Sands noted. The company has since added new storage regions in Sydney and Singapore and bolstered its team. "Wasabi's team has grown from two earlier this year to about 26 at present, so we're investing very aggressively not only in our storage regions but also in our team," he said, highlighting a dedicated team of six in Australia and New Zealand.

For those wishing to work with Wasabi, Sands described a partner-first approach. "Wasabi is a very partner-driven organisation. Our preferred model is the channel. We're very lucky to have hundreds of channels already working with Wasabi in Australia and New Zealand today; we've got over 14,000 partners around the world," he said.

Summing up, Sands pointed to the importance for end-users and enterprises to engage through local partners or directly through Wasabi's website. He also touted their significant network of technology alliance partners who can help deliver integrated solutions. "We're set for a great year in 2023. It's very exciting stuff," he said.

As the interview closed, Sands reflected on the company's progress and future outlook: "We're lucky to have our experienced team. We're set for a great year in 2023 - it's very exciting stuff."