The hybrid multi-cloud data specialist was recognized for the second consecutive year in the Hybrid Cloud Storage category
SAN JOSE, Calif., November 29, 2023 - Panzura LLC, a leading provider of hybrid multi-cloud data management solutions, today announced that it has been identified as a Sample Vendor in the Gartner Hype Cycle for Storage and Data Protection Technologies, 2023. Panzura was named in the Hybrid Cloud Storage category for the second consecutive year, alongside nine other vendors.1
“For years, our sole focus has been on working closely with CIOs to develop hybrid multi-cloud data management products that ensure security, visibility, and control,” said Jill Stelfox, CEO of Panzura. “We’re thrilled to be recognized by Gartner for the second consecutive year, which to us is a testament to the great strides we’ve been taking toward helping our customers protect and manage their data more effectively.”
The report states, “This Hype Cycle focuses on emerging innovative storage and data protection technologies and assesses their business impact, adoption rate, and maturity level to help I&O leaders build adaptable, future-ready storage and data protection platforms for changing business needs.”
According to this year’s Hype Cycle report, “by 2026, 60% of I&O leaders will implement hybrid cloud deployments, which is a significant increase from 20% in 2023.” Also, “By 2026, large enterprises will triple their unstructured data capacity across their on-premises, edge and public cloud locations, compared to 2023.”
According to the report, the following are the drivers for adopting Hybrid Cloud Storage:
- “Provides data disaster recovery and business continuity by snapshotting or copying datasets, both structured and unstructured, from on-premises or edge storage to public cloud storage.
- Brings data closer to cloud compute and big data infrastructure for purposes of processing or analytics.
- Allows modernization of unstructured data services, as they are more applicable to hybrid cloud storage workflow.
- Standardizes the underlying storage platform for any deployment scenario — edge, core data center or public cloud infrastructure as a service (IaaS) — to provide consistent operational use of storage services.”
Following Panzura’s re-founding in 2020, the company has undergone a cultural shift and brought seven new patents to market. Over the last three years, it achieved a rise in annual recurring revenue of 271% and has grown at four times the rate of its nearest competitors. It has won industry-leading awards including the Inc. 5000 list of America’s Fastest Growing Companies in 2022 and 2023, as well as Inc.’s Best Workplaces for 2022 and 2023.
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- Gartner, Hype Cycle for Storage and Data Protection Technologies, 2023, Julia Palmer, July 13, 2023