Google know that they had 6283 MB of storage per user 2008-01-04. They also know that they had 7254 per user at 2008-10-20. They assume that they will have 10996 MB of storage per user at 2037-12-20.
Then they use this formula to calculate the storage:
prevms = milliseconds from 1970, 01, 01 to the previous point (ATM it is 2008-10-20, which is 1224486000000 milliseconds from 1970, 01, 01
prevmb = the space at the previous point, 7254 at this moment
currentms = milliseconds from 1970, 01, 01 to the storage estimate date (ATM it is 2037-12-20, which is 2144908800000 milliseconds from 1970, 01, 01
currentmb = the estimated space at that time, 10966 at this moment
now = milliseconds from 1970, 01, 01 we are at now
This is the formula:
((now-prevms) / currentms - prevms) * (currentmb-prevmb) + prevmb)