Technologies have been rapidly evolving in the past few years. From IoT to AI, businesses today are keen on making the most of these technologies to drive better business outcomes. In light of the recent global events, most of the companies went digital, leading to accelerated adoption of technologies.
The digital nature of businesses relies mostly on Cloud technology. According to a survey by Gartner, the cloud system infrastructure services will grow to $63bn through 2021. Global trends show the increasing importance of enterprise cloud and how the trend is here to stay for a long time.
“If someone asks me what Cloud computing is, I try not to get bogged down with definitions. I tell them that, simply put, cloud computing is a better way to run your business.”
– Marc Benioff, Founder, and CEO of SalesForce
Data drives today’s world, and the data is stored, analyzed, and shared using the Cloud. All of the data, connected systems, and data-generating services impact businesses every day. Here’s a closer look at the state of cloud computing as it slowly becomes the backbone of many businesses:
Businesses Migrate to Cloud
Cloud is not a new concept in the market. The pre-pandemic era had many businesses relying on public, private, and hybrid cloud solutions. But the current circumstances have helped many more businesses realize the importance and convenience of using deploying Cloud to optimize their systems and boost productivity. Companies from various sectors like IT and BFSI to retail and healthcare have seen accelerated growth in the adoption of Cloud services. As an example, see how we enabled a company to build key capabilities such as unlimited storage, multiple collaboration and communication tools to create an intuitive learning and collaboration platform using Cloud.
To capitalize on the increasing demand, many Cloud Service Providers (CSPs) provide more cost-effective and secure Cloud solutions than before.
Multi-Cloud & Hybrid Cloud Adoption on the rise
According to a recent survey, the hybrid cloud market is expected to grow to $128 billion by 2025, with a CAGR of 18.73%. Many businesses have shifted their infrastructure using IaaS, PaaS, or SaaS platforms, but now they realize the need for an innovative, solution-specific vendor. Multi-cloud and hybrid cloud infrastructures have more flexibility, scalability, and agility, which is why more and more businesses are adopting multi-cloud strategies to make the most of their cloud infrastructure.
Rising Cloud Expenditure
Companies used to implement cloud solutions as a cost-saving strategy. However, since businesses are becoming digital, their cloud budget is increasing gradually. A recent survey by IDG stated that organizations are looking to spend around one-third (32%) of their IT budget on cloud services in the near future. The global public cloud computing market is likely to grow to $832bn by 2025, with a CAGR of 17.5%.
Growing Employment Opportunities
The increasing adoption and implementation of Cloud solutions require planning, strategizing, and decision-making. With a majority of companies adopting Cloud solutions, the need for new job roles like Cloud Architect, Cloud System Administrator, Security Architect, and more are on the rise. The continually evolving nature of cloud architecture can translate to the fact that training of DevOps in this segment will continue to grow as well.
May businesses are favouring the serverless computing execution model. In a serverless computing infrastructure, the CSP operates the server and manages the allocation of machine resources and storage of data which simplifies the process of coding. This type of model is cost-effective, flexible, and productive as the servers are entirely managed by CSP. The organizations pay only for the resources they actually use, and they also have an option to mix-and-match services as per the application’s needs.
The global trends depict that Cloud technology will continue to dominate the market for a long time. To know more about how you can leverage cloud services for your organization, write to us at email@example.com.