The Covid-19 pandemic has completely shaken up things when it comes to organizational productivity. In the new environment, remote work reigns supreme and online collaboration between remote teams has become paramount.

As a consequence of this paradigm shift, businesses across the globe are rallying towards cloud powered solutions for their remote work needs. It is expected that Work from Home (WFH) is here to stay, and may even become a permanent feature in most cases.

Canalys, a research firm that closely monitors the developments concerning technology, has recorded a strong 33% growth in spending on cloud solutions just in the third quarter of 2020. This is indeed a significant growth rate amidst this high level of uncertainty.

Businesses across the globe are turning to the Cloud to re-factor their employee and customer facing operations as well as processes. This adoption of cloud solutions is being witnessed across the board, whether it’s the government or commercial entities.

Most establishments turning to the cloud clearly realize the flexibility and agility inherent in cloud powered solutions. As per the Canalys report, AWS still retains its top slot in the Cloud Service Provider (CSP) market.

Microsoft’s Azure occupies the second slot among CSPs, with a slight bump in its market share to nearly 19%. At the global level, Google’s Cloud platform is latching on to the third place but is being closely trailed by Alibaba Cloud.

Some cloud experts are of the opinion that due to the sheer size of the Chinese cloud market, where Alibaba Cloud is the dominant player, it may not be long that Google Cloud is dethroned from the third slot.

The recent spike in cloud demand is largely attributable to a major shift in enterprise spending patterns. Amidst heightened uncertainty, organizations globally are abandoning their CapEx driven IT infrastructures in favor of OpEx oriented cloud solutions.

Lastly, Canalys has also forecast an accelerated investment in edge computing and 5G technologies. With more and more processes necessitating minimal latency, the edge and 5G technologies combined will bridge this gap.

One thing’s for sure though, the strong adoption of cloud solutions, such as the ones offered by dinCloud, is expected to continue for a good few upcoming years. Indeed, there is a huge growth potential in the cloud market over the next few years.