'Massive Growth' Looms in Cloud Storage: Box.com CEO
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Businesses' demand for cloud services will continue to see "massive growth" over the next few years and Box.com, a cloud storage company, aims to capture some of that demand, Aaron Levie, CEO of the tech start-up Box.com, told CNBC on Squawk Box.
"We've always seen that our space has just massive upside in growth, if you think about the transitions, $290 billion are spent every year on enterprise software and much of that has yes to move to the cloud," Levie said.
Over the next five to ten years, companies like Salesforce and NetSuite will get most of that value, Levie said, but his company aims to get some of the market as well.
Despite growing competition in cloud computing, Box.com, which already provides cloud data storage to over 11 million users, including over 100,000 businesses, is unique because it focuses on offering its services to enterprises, Levie said.
Tech giants like Google , which recently launched its cloud service Google Drive, and Apple also offer cloud services, but Levie said they don't pose serious threats as competition because larger tech companies are primarily geared toward the consumer.
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