The year 2020 will be touted as the golden year for cloud computing. Covid-19 has made tech infrastructure companies find innovative ways to meet the accelerated demand for cloud-based offerings.
Several existing factors that\’s known to drive cloud transitions now seem to have accelerated because of the Covid-19 crisis. Cloud spending has increased to 37% in the past year. This trend stays as the world is more towards virtual work. Despite lockdowns in various parts of the world, cloud spending has been estimated to rise by 19% by the end of this year, according to research by Gartner.
In 2020, the Cloud Computing industry was valued at $371.4 Billion and is now estimated to reach a whopping $832.1 Billion by 2025 at a CAGR of 17.5%.
Covid-19 and Growth of Cloud Computing
- How is Cloud Computing helping businesses stay connected?
- Enabling remote workforce
- Provides easy access to online data backup
- Enabling team collaboration
- Global Shift Toward Cloud Computing
- Cloud Migration Strategy
- Cloud Computing Insights and Resources
How is Cloud Computing helping businesses stay connected?
Due to the Covid-19 pandemic, digital business transformation has entered a challenging phase. The sudden shutdown of offices, schools, and SMEs has increased the cloud services demand.
1) Enabling remote workforce
With governments worldwide enforcing lockdowns, there has been a steep increase in the use of video conferencing tools and virtual meeting software. This has led to a massive spike in demand for internet bandwidth. In such cases, cloud computing has been a savior since it is easy to handle unexpected spikes in bandwidth usage in a cloud computing scenario.
2) Provides easy access to online data backup
Data is the primary asset in many industries, such as healthcare and finance. Managing and storage of data can be expensive when on-premise servers are chosen. In such scenarios, cloud computing is the best option since it provides access to online data backup and high scalability. But one must thoroughly assess the security risks and tackle them efficiently to avoid data loss or leak.
3) Enabling team collaboration
Business collaboration earlier involved face-to-face interaction. These interactions were critical in ensuring business objectives were met by large teams. With the Covid-19 pandemic forcing millions of workers to work remotely, organizations struggle to create the same office environment and engagement between team members. Cloud helps increase efficiency and also enhances productivity. It allows individuals to share or edit projects in real-time, working from different locations and allows the teams to stay connected. Providing the latest information, updates, and project developments is easier when organizations work in a cloud environment. It also allows control over who has access to information, ensuring information security.
Global Shift Toward Cloud Computing
In addition to the pandemic, the shift to the cloud has been long-awaited. Flexible consumption models like “Everything or Anything as a Service” (XaaS) have become increasingly popular. Cloud computing has enabled strategic shifts for many organizations across industries. With five times more growth forecast for cloud computing models by 2025, organizations opting for these cloud-driven shifts can see more aggregation at lower costs, greater financial predictability, and enhanced customer and team collaborations.
Cloud Migration Strategy
Cloud adoption has been rushing, and organizations must keep up with the pace and ensure information security is applied. Enterprises must understand that cloud migration is not just about moving to the cloud. It is continuous reinvention to check for ways to achieve cost efficiency and create new opportunities. It is critical to follow a well-planned approach and adopt cloud migration in a phased manner so that business stays uninterrupted.
As enterprises move towards cloud migration, cost duplication must be kept in check since organizations pay for both cloud and legacy systems, and cloud synchronization costs must be added too. Many key players provide cost-effective cloud environments which help organizations achieve cost efficiency.
Amazon Web Services (AWS) is one of the key players in the cloud market. Amazon provides cloud computing services to enterprises and SMEs worldwide. For the longest time, AWS has focused on scalable, reliable cloud services and is at the forefront of providing leading cloud services like analytics and machine learning to its customers.
The cloud is now more than just an efficient storage option. Cloud as a platform generates data and provides innovative solutions to leverage that data. More businesses use the cloud to drive innovation, become more agile, and save money. Enabling cloud computing has become a necessity for the smooth functioning of the organization than a luxury. It’s no more a question of choice.
Cloud computing is now very much at the center of any organization’s strategy and that’s a trend which is here to stay despite the steepest economic contraction. Want to know how to get started with your cloud journey ? Contact us now for a free consultation