How Cloud Computing Will Transform Industries

Cloud computing is firmly established as the new normal for enterprise IT as the IT industry is growing at unprecedented rates in the cloud computing community and the fate of the cloud is pretty much decided. The Cloud is not going anywhere and companies can rely on cloud providers to host workloads long-term as the shift to cloud computing continues, solution providers have a lot to look forward to in 2020 following a year in which innovations from the big three players which are Amazon Web Services, Microsoft, and Google. The developments in the cloud computing industry move at a pace that can be maddening to follow and impossible to predict as from being seen as leverage for cost, cloud computing has become one of the most defining trends. Across industries, the cloud continues to be one of the fastest-growing segments of IT spend and today the majority of newcomers bursting in the workforce will have some basic knowledge of the cloud and other growing technologies. The technology is becoming more specialized as vendors turn attention to tailored solutions across verticals as with the bulk of information technology spending still on-premises, enterprises’ modernization of their core applications will continue to transform business technology. Many of those emerging cloud computing trends stem from the industry entering a phase of standardization and increased compatibility while cloud computing is being used as a key agent for business transformation, and the clear deployment model of choice for modernizing existing information technology infrastructure.

By 2023, the leading cloud service providers will have a distributed ATM-like presence to serve a subset of their services, on another hand we will have one of the biggest challenges and that is integrating digital natives with older members of the workforce. Sixty percent of organizations will use an external provider’s cloud-managed service offering by 2022 because Cloud infrastructure whether public, hosted private or on-premises is increasingly less siloed, allowing workloads to be more portable and data streams more mobile. AWS, Google, and Microsoft are reportedly putting their input on eight public cloud trends and strategies for partners.

Investments in cloud computing have steadily grown as the estimates worldwide show public cloud revenue will grow to $266.4 billion in 2020, up 17 percent from $227.8 billion last year. Whereas, cloud spending in India on public cloud services and infrastructure will reach $2.9 billion in 2020, an increase of 34.5 percent over 2019. Although annual spending growth is expected to be moderate during the period and the market is expected to hit a five-year compounded annual growth rate of 33.9 percent in public cloud services spending.

In the new era of cloud, cost optimization will be crucial because, through 2024, nearly all applications migrated to public cloud infrastructure-as-a-service (IaaS) will require optimization to become more cost-effective by building the data lake and the data warehouse and helping a customer define their data strategy and executing them. Vendors are leaning into the cloud-filled world, responding to customer demands to integrate with other providers or lessen the security burden and cloud computing will dominate the market, as it will continue to be the platform for emerging technologies such as Artificial Intelligence (AI), blockchain, and Internet of Things (IoT). A robust community creates the perfect environment for innovations in cloud computing and organizations around the globe will encourage people for more innovations.