Everything You Need to Know About Cloud Computing

Published On: October 2022

Cloud computing Market Outlook and Advantages

Cloud computing is one of the popular subjects when discussing the advancement of IT and revolutionary changes to the business landscape. All corporate processes are impacted by cloud computing, which can handle complex and dynamic requirements. Physical servers and data center equipment can be scaled up or down with ease using Infrastructure as a Service (IaaS). Platform as a Service (PaaS) provides tools in a virtual setting that enable the creation and execution of applications. A third cloud service model for delivering and licensing business applications commonly accessed through a web browser is called "Software as a Service" (SaaS)

The market for public clouds was valued at USD 211.5 billion in 2019 and is anticipated to expand at a CAGR of 14.6% from 2020 to 2027. The main factors supporting market growth are various industries' rapidly growing digital transformation, internet and mobile device adoption, and significant data consumption.

According to the World Economic Forum, integrating IoT, AI, machine learning, and cloud computing will play a role in the fourth industrial revolution. AI and machine learning technologies will enhance public cloud and IoT to improve technology and spur growth. Businesses are deliberately integrating public clouds from various industries with these developing technologies.

For instance, in July 2019, Fulcrum Automation Technologies, a subscription-based data analysis, and SaaS platform provider, were bought by Universal mCloud Corp., a developer of asset management systems that blends cloud computing, IoT, analytics, and artificial intelligence. mCloud Corp. now uses cloud computing and IoT in the oil and gas industry with the AssetCare platform.

Given how open and straightforward it is to use the public cloud, it should be no surprise that cloud sprawl and a lack of governance are widespread. According to a recent survey, unmanaged and shadow apps accounted for most of the software-as-a-service (SaaS) growth caused by the pandemic. The news is unsuitable for CIOs, and IT teams are worried about compliance and security.

Productiv, a SaaS management company, examined data from over 35,000 apps and over 5,000 teams from late 2019 through early 2021. Major conclusions include:

The average company's SaaS portfolio increased by 44% in the past two years. Between 2019 and 2021, retail businesses increased their SaaS portfolios by an average of 131%, second only to the technology sector.

Organizations continue to prioritize data security and privacy since information storage, usage, and transmission require digital protection. According to surveys, over 60% of the commercially sensitive data stored on hard discs is not held securely. Some of the essential security services provided by the vendors include data encryption, authorization management, access control, integration, communication security, monitoring and auditing, and business continuity services.

For instance, 99.9% uptime is offered by vendors like Google LLP, Microsoft Corporation, and Amazon.com Inc., which frees enterprises from having to build and operate recovery facilities and backup infrastructure.

However, IT is embracing desktop virtualization in the public cloud due to its scalability.

Employees now have more flexibility in where they work thanks to public cloud solutions like Microsoft's Azure Virtual Desktop (AVD).

However, the benefits of desktop-as-a-service (DaaS) and virtual desktop infrastructure (VDI) technology go beyond just helping distant workers. Active virtual desktops via a public cloud strategy have additional benefits, including security, lower operating expenses, and enhanced business continuity.

Due to the deployment of cloud services for the storage and administration of customer data, BFSI held the most significant market share in terms of revenue in 2019. Interoperability, secure storage, and round-the-clock availability have aided the BFSI sector's increased emphasis on customer-centric business models and the digitization of commerce and wealth. The BFSI sector will also be significantly impacted by services like payment gateways, online fund transfers, digital wallets, and unified user experiences, which will facilitate the overall transition to public cloud solutions.

Also, because of being infinitely scalable and, most importantly, cost-effective, hyper-scale, cloud-based technologies give enterprises all the tools and capabilities, they need to enable hybrid work for employees.

Conclusion

As a result, many businesses are moving to the cloud more quickly, with desktop virtualization at their core. Tools that can identify, report, and proactively fix end-user experience issues are necessary for proper end-user experience management in this cloud-based, virtual desktop environment if IT workforce and skills shortages persist.