People add storage as they need it. This creates a demand for more storage and so manufacturers make more storage to sell. Over time, this means that storage technology increases, and so people find that they can store more for less, so they tend to create more content and store it, which in turn increases demand.
As another point, businesses count storage cost as a factor. So, for instance, when you’re using YouTube, you’re “paying” for that storage. They’re typically selling your attention to advertisers and use some of the profit to purchase more storage.
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