Costs of storage are of course declining rapidly, however so far the massive increase in available bandwidth and storage needs for customers is simply growing MUCH faster.
Part of the catch-22 here is also that with decreased storage costs for online storage providers (that increasingly are building their clusters with consumer component hard drives) keeps an even pace with decrease in cost for home-storage and the amount of data users are wanting to upload.
Part of the catch-22 here is also that with decreased storage costs for online storage providers (that increasingly are building their clusters with consumer component hard drives) keeps an even pace with decrease in cost for home-storage and the amount of data users are wanting to upload.