The world is rapidly moving away from traditional software models and adopting cloud-based systems. Instead of maintaining large on-premise servers and IT teams to manage them, cloud computing gives users on-demand services through any device with an internet connection, from anywhere, at any time.
Apart from the reduction of IT costs involved and improvements in agility, cloud computing facilitates users to utilize additional storage space and collaborate from different locations in real-time. The importance of cloud computing services was clear during the pandemic, and these solutions played a vital role in supporting the global economy.
In 2021 alone, the cloud computing market has grown by over 35% and reached an increased market value of $120 billion. In fact, the public cloud computing market is predicted to boom by another 28% over the next year, thanks to AI engineering and the emergence of server less clouds.
In a world where cyber-attacks are increasing by the day, managing data on the cloud guarantees a level of security that traditional technology cannot offer. Businesses that employ cloud computing services often have better mobility, security, and faster revenue growth than their competitors.
Having been around for almost two decades, there is no shortage of innovation happening in the cloud computing industry. Currently, cloud computing service providers are in the process of making new features like Platform as a Service (PaaS) and Edge computing easily accessible to organizations.
From raising the standards of data privacy to the adoption of Secure Access Service Edge (SASE), various cloud providers are engaged in tough competition to improve the cloud computing services they offer. Given the transformation that cloud computing is undergoing, businesses that incorporate these changes will surely gain an edge in the dynamic global market.