Why The Future Of Cloud Computing Is Bright

When we got the internet, people thought that it would quickly become a platform for everything, including work and play. But as the early years of the web dragged on, it became apparent that something was getting in the way of that dream: the inability to access the same information from any point on the network. 

Although it took a long time coming, the cloud changed all that, allowing people to interact with software and data in a truly fluid, mobile way. We finally got the internet the dreamers of the 1990s had envisioned now in 2024. 

Today’s cloud computing experts, however, don’t see an end to progress. If their predictions are anything to go by, we are right at the start of an exciting journey. Here is what they expect to happen over the coming months and years. 

IT-As-A-Service Goes Mainstream 

IT-as-a-service is a relatively new concept today, despite the fact that the market is worth more than $350 billion. But in the future, it’s expected to accelerate as businesses start to recognize the intrinsic benefits of outsourcing their IT to a more reliable, cheaper and more efficient provider. Deloitte has suggested that in just 18 months time, the industry could be worth about $550 billion, a nearly 60 percent increase in just a year ago. 

This, in turn, the professional services provider says, will lead to even greater efficiency within companies which will hopefully be reflected in lower consumer prices across the board. 

IT Spending Will Increase 

You would have thought that the 50 percent deflation rate in the computer component market would mean that the overall size of the market would decline as the technology got better. But this isn’t the case at all. Even with the price of computation dropping like a stone, people and companies are increasing their expenditure on IT like there’s no tomorrow. 

The reasons for this are unclear, but it appears that the demand for data always outstrips the supply of data. When processing data gets cheaper, people don’t process the same amount of data for less money, they just increase their data processing to fit their new budget. With so much data now being processed through the cloud, IDC is predicting a massive uptick in cloud IT spending. 

Right now they are predicting that the deployment of cloud data services will grow by 15.3 percent throughout the rest of the year and cloud infrastructure services will comprise nearly two-thirds of this outlay. However, some experts are predicting an even faster rise both this year and next, given the numerous machine learning technologies which are being developed right now. 

The Majority Of Companies Using The Cloud For Apps 

The cloud used to be something only the most cutting edge businesses used. But now it appears to have gone mainstream. More than 70 percent of all organizations now report using the cloud in some way, and that number is expected to rise to more than 90 percent by 2023. The market penetration of the cloud is similar to the penetration of the internet soon after that came into existing. Before long it’ll be a must-have tool for businesses to be able to compete. 

Data Needs Are Going To Drive Cloud Adoption Higher 

For companies to keep their lead online, they are going to become increasingly dependent on analyzing big data. Rigorous analysis of data is required for all sorts of things, including better online marketing targeting and recruitment. Many experts believe that by moving to the cloud, businesses will be able to make enormous savings in the money they currently spend on acquiring and using data. The cloud provides a platform which enables smaller businesses to compete with larger enterprises for the same customers. Nearly 50 percent of cloud-based businesses say that they use the cloud for data purposes. 

Traditional Networks Becoming Obsolete 

If you’re currently employed in maintaining company networks, a word of caution: these jobs are soon going to become a thing of the past. With companies moving to the cloud in higher numbers than ever before, the end of legacy, in-house networks is upon us. There’s no longer a need for companies to hire expensive network managers and IT professionals to maintain their systems when it can all be done externally with third party companies. 

With the rise of BYOD, even maintaining Internet-connected office equipment looks as if it is slowly coming to an end. It is expected that by 2023, the majority of companies will have all their primary operations and apps running in the cloud.

I hope you enjoyed this article about the future of cloud computing looking brighter each day in the business world.  

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