In the last fifteen months or so, we have seen an accelerated demand for Cloud Computing solutions. When we refer to the Cloud in general, it mainly covers Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS).
Recently, there was a research report whose prime focus was the global Cloud Infrastructure as a Service (IaaS) market. The report mainly deals with the incremental demand effect that has largely been sparked by the Covid-19 pandemic.
The report gives a comprehensive overview of the key international players in the IaaS market. The report further lays down its forecast for the coming few years, especially on where the IaaS market is headed in the mid term.
According to the report, the Cloud Computing market is forecast to grow at a Compound Annual Growth Rate (CAGR) of around 17.9%, till the year 2025. Not only is the anticipated growth rate impressive, but also the expectation that it will be maintained as well.
This steady and healthy growth in the demand for Cloud solutions has been attributed to two prime reasons. Firstly, enterprises are increasingly leveraging the Cloud to support a mid to long term remote work strategy.
As per the report, some organizations have seriously started contemplating the possibility of adopting a permanent Work from Home (WFH) strategy. This will further stabilize the demand for cloud solutions, as it will then no longer be a stop-gap arrangement.
Lastly, the other factor that is likely to become a major contributor for the demand of cloud solutions is digital transformation. Solutions such as Cloud Hosted Virtual Desktops fit in really well with the need for accelerated digital transformation.
The instant scalability of cloud solutions, coupled with the “pay as you use” costing model make them an attractive proposition, especially for small to mid sized enterprises (SMEs). It appears the next few years will be quite good for the Cloud industry as a whole.