Editor's Note

The world has gravitated towards rapid digitization. What was once perceived as a distant reality got accelerated due to the pandemic! Every company and industry have started adopting innovative cloud technology to store, process, communicate and engage with customers backed with real-time data. In simple terms, an opportunity that is set to rise in the next decade, the cloud is how you do computing and not where you do it.

The global public cloud computing market is set to cross $330 billion by 2022, and the numbers are set to keep rising every year. It is a significant increase of over 47% approx., since 2020. It is set to cross at least $1 trillion by 2024. You can now imagine that Cloud computing is not a luxury or good to have; it has become the need of the hour and a necessity.

Today, more than 90% of the companies globally are on the cloud, and the workloads are set to get distributed over the next couple of years. As organizations embrace data-driven business models, remote and hybrid work environments, and global supply chains, cloud computing is more popular. Companies are set to take advantage of these changes in technology and conserve their IT budgets than expend on maintaining their own IT infrastructure.

Everything has slowly migrated to the cloud today. Right from cloud kitchens, banking firms and institutions, and shipping and retail companies to mid-sized and large IT companies, new cloud services are constantly evolving to meet the growing demand of the employees and organizations. Cloud computing is now seen as a catalyst between scalability and success. The deep penetration of cloud services has intensified the competition and boosted experiments globally.

The market dynamics are changing, and so is the need of the organizations to stay ahead of their competition. The disruption in how business is conducted further augmented the use of several cloud computing technologies and how it is delivered. The public Software-as-a-Service (SaaS) solution remains the largest market segment where the users can access the applications via a browser. The backend is managed by the cloud computing companies, taking care of the security, hardware, database, and infrastructural requirements.

However, there is a significant increase in offering solutions that cater to many customers and requirements.

Platform-as-a-Service cloud solutions allow developers to develop cloud-based applications as per their requirements and specifications. Whether it is a consumer-driven social media platform or an inventory management application, companies have expanded their use of cloud services. PaaS will cross nearly $72 million in 2022, with a 54% hike from 2020.

Multi Cloud, private cloud, and hybrid cloud computing models help users or organizations gain leverage in the market by adopting a mix of functions and sensitive information.

In short, cloud computing is the future of work, and there is no looking back. With offices gradually opening across the industry, there is a surge in cloud services, and this sector is set to keep innovating every year. It boils down to one thing—disruption will continue, new technologies will surface, and we have to keep the momentum to adopt the best cloud computing technology to benefit us in the long run.

We hope you enjoy reading our special segment on Cloud Computing and why you must gradually tilt the arrow towards it.