2019 was a record year for the amount spent on cloud services worldwide; $107 billion, to be exact. The monumental statistic, pulled from TechRadar research and published in a recent article by ETF Trends, is reported to be a whopping 37% increase on the 2018 spend. The snowball effect of cloud adoption is indicative of the many benefits that cloud computing offers.
Eliminating the need for on-premises infrastructure (and associated upfront and ongoing maintenance costs), more and more businesses are realising the benefits of moving to cloud services. With cloud, businesses also remove the issues arising from providers ending support for a product, and the often complex requirements surrounding version or feature upgrades.
This move to the cloud is happening across all industries regardless of organisation size: businesses are realising that whatever their market sector, in order to remain competitive, they need to take advantage of the latest technology – and that lies with cloud.
But, of course, not everything needs to happen at once. A great deal of the increase in adoption of cloud services is due to organisations utilising hybrid solutions, with many cloud-based services and solutions integrating with on-premises services.
The trend is definitely heading upwards for the move to the cloud, though, and the more businesses experience the benefits of individual solutions and services in the cloud, the more they want to extend those advantages to other areas of the business. Indeed, the ETF Trends article goes on to say that market analysts, Canalys, predicts that in just 4 years’ time organisations will be spending $248bn globally on cloud infrastructure and services.