The adoption of the cloud is arguably one of the most significant business transformations we have seen since the early days of the world wide web.
Given ongoing growth in online activity, and the sizable share of the world’s digital data and software applications still maintained outside of the cloud, continued strong growth in cloud-related services has been forecast.
What is cloud computing?
Cloud computing is the technology driving the outsourcing of digital data storage and online software accessibility, freeing corporate and household consumers from these traditionally cumbersome tasks.
In the early days of computing, both digital data and software applications typically were stored and maintained by the end user either by buying and downloading software or by accepting software pre-bundled into the devices they purchased. The game has changed, and cloud computing represents a foray into a truly digital age.
Think Netflix, Salesforce, Zoom
The rise of ‘as a service’ businesses has revolutionized the way consumers interact with businesses and turned ‘boring’ software development companies into household names.
Software businesses such as Netflix, Salesforce and Zoom have captured the imagination of investors over the last few years, whilst cloud infrastructure services like Amazon and Microsoft have successfully diversified their businesses into the cloud ecosystem.
These companies command attention by operating business models of the future, innovating and using technology that seek to revolutionize the way we interact and do business.
Revenues for the cloud ecosystem currently top US$371 billion, and are forecast to reach US$832 billion by 2025 – presenting an exciting investment opportunity, given the rapid growth in the sector since 2010, when over 90% of data was held only on local servers.
Cloud computing has enabled 2020’s successful work-from-home experiment
Demand for cloud computing services has grown strongly because of the added flexibility and cost savings the technology offers.
Through the cloud, at-home employees can virtually access their regular suite of applications and files and collaborate with their colleagues. It is likely that enterprises will further embrace cloud-based Software as a Service (SAAS), with many employees still working remotely and organizations embracing remote work as part of the new normal. As the chart below shows, the number of employees working from home is likely to stay elevated from pre-pandemic levels.
Follow us for more updates
Facebook Instagram


Comments
Post a Comment