Meanwhile, the increasing commoditisation of Solid State Drives (SSDs) is going to have a major impact on the pricing for storage offerings, in a bold prediction by Vaughan Woods, chairman, media streaming start-up Whoosha.

Woods had previously worked with a variety of storage companies, and currently also consults for several technology start-ups including those operating in the SSD space.

"In three to five years' time, you are not going to buy a spinning disk and it is all going to be dead," declared Woods.

Instead, SSD will become the primary storage medium with its rapidly dropping price points, he added.

There is another bigger implication for technology decision makers looking to buy storage. Currently, spinning disks contain some inefficiency, where tiering software is then used to run the data between SATA and fibre channel drives. "This creates an artificial impression of speed. However, SSDs does away the need for the tricky software," said Woods.