The Cloud Computing Industry that kicked off as more of an optional service is fast becoming mainstream. The planning, integration and implementation of cloud solutions is becoming a top management level priority.
A hallmark of the cloud industry has been its rich diversity when it comes to cloud based offerings. You name an implementation model and it is likely being offered by some major or niche Cloud Service Provider (CSP).
Even if your desired cloud solution is not available “readily cooked”, you can still order it from a CSP that thrives on providing customized cloud powered solutions.
Most estimates by some of the leading research firms that cover the cloud industry are pointing to yet another year of promising growth. This is highly significant given the fluid geo economic conditions globally.
The global public cloud market is expected to grow by a decent 17% over the year 2020, touching the $266 BN mark in monetary terms.
As enterprise and productivity software become ever more cloud powered, Software as a Service or SaaS will emerge as the largest segment within the cloud, reaching the $116 BN milestone.
The sector that is forecast to exhibit the highest growth is cloud Infrastructure as a Service or IaaS. More enterprises are forecast to convert both storage and processing resources over the cloud.
Due to this trend, the IaaS segment of the cloud industry will show strongest growth, touching a good 24% and expected to reach the $50 BN mark.
By the year 2022, it is expected that up to 60% enterprises will have incorporated some sort of cloud powered service or solution in their architecture, which is further good news for the cloud industry.
Cloud architectures are expected to grow in complexity as they will be a mix of hybrid and multi cloud environments. Most large CSPs will have to cope with the cloud industry’s emerging trend of multi cloud ecosystems.