Why Cost of Storage Decreased Over Years?

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Why the Cost of Data Storage Has Decreased Over the Years

The cost of data storage has plummeted steadily since its early days. The study ‘Historical Price of Computer Memory and Storage’ by Our World in Data estimates that the cost of data storage has fallen by 90% or more over the past two decades. A gigabyte of storage that cost thousands of dollars in the early 2000s can now be acquired for cents. This trend is expected to continue, with analysts predicting even steeper cost declines in the years to come.

Data source: John C. McCallum (2023); U.S. Bureau of Labor Statistics (2024)