Cloud Computing: 2022’s Most Valuable Technologies in Tech - Amit Gupta, CEO & Founder, Rapyder Cloud Solutions
Cloud computing is touted as one of the most promising and valuable technologies in the recent past. Cloud computing was the most reliable answer to Covid-19 dilemma for every business in the technology world and otherwise.
If cloud growth in 2021 was predicted to grow at 23% which is roughly about $270 Billion compared to 2020. In 2022, cloud computing segment is forecasted to grow to a whopping $482 Billion.
While we are moving at a steady pace towards tackling post-pandemic situation, the new reality is the world will rely heavily in cloud computing. The surge in digital services is garnering a huge attention and making cloud the centrepiece for all digital experiences.
As per latest research by Gartner, the cloud revenue in the coming years is going to surpass non-cloud revenue for IT markets. "There is no business strategy without a cloud strategy. The adoption and interest in public cloud continues unabated as organisations pursue a "cloud first" policy for onboarding new workloads," said Milind Govekar, the Vice President at Gartner.
By 2025, as per latest research, more than 85% of organisations will follow a cloud-first principle. In order to reap complete benefits, and to be able to execute their digital strategies, they will have to upgrade to latest cloud-native architecture and technologies.
"The economic, organizational and societal impact of the pandemic will continue to serve as a catalyst for digital innovation and adoption of cloud services. This is especially true for use cases such as collaboration, remote work and new digital services to support a hybrid workforce,” says Gartner senior research director Henrique Cecci.
Let’s look at how cloud industry is expected to dominate the year 2022
Public Clouds will gain more importance
Public clouds have accelerated at the rate which they grow as a result of the pandemic. As per IDC, Enterprise cloud - both public and private has improved by 34.4% whereas the non-cloud IT spending fell steeply by 8%.
It is expected that market giants like Amazon Web Services, Microsoft Azure, and Google Cloud Platform will consolidate their leadership in the cloud market and AWS is slated to maintain its market leadership.
In the Indian sub-continent too, usage of public cloud is forecasted to grow to a total of $7.3 Billion in 2022, which is approximately 29.6% from the previous year. “Public cloud growth continues to be driven by organisations that want to modernise their IT and reduce their capital expenditure spend,” Sid Nag, Research VP at Gartner, said. “The desire for agility and innovation in both business transformation and IT operations is also fuelling the growth of public cloud.”
Growth of Cloud Service Applications
The cloud service model has seen an increase by 40% as compared to previous year. The cloud service applications are not far away. Software-as-a-service (SaaS) is forecasted to grow to a total of about $2.2 Billion in the next year, which is approximately 21.4% more than 2021.
Infrastructure-as-a-Service (IaaS) is expected to grow at 36.8% by 2022 that accounts to a total of $895 million.
Hybrid and Multi cloud Enables More Business Growth
Businesses have long migrated to cloud, since then they have depended on two models: private and public cloud options. They are easily accessible, scalable, more customised and flexible. Private cloud, where the data never leaves the organisation’s premises is required for security and regulatory reasons. Most bigger companies are now offering a “hybrid” model that offers the best of both worlds - private as well as public. Traditional businesses previously were moving towards public clouds due to its growing popularity. But a great amount of emphasis is being laid on hybrid and multi cloud. To avoid being trapped in a Cloud rut with a single provider, IT organisations will look for hybridisation and multi cloud technologies.
According to latest research, 93% of the businesses have multi-cloud approach and 87% of them have a hybrid cloud strategy. This is a direct reflection of how cloud-strategy is used widely.
Adopting a Hybrid cloud approach can reduce the complexity and streamline user experience, which is what makes it the go to platform in the near future.
The Rise of Serverless
Referred to also as “Functions-as-a-Service,” server less cloud is gaining more traction in the market that is being provided by Amazon - AWS Lambda, Microsoft - Azure Functions, and IBM cloud functions. Serverless or FaaS usually means organisations are not tied to leasing servers, or fixed amounts of storage. It offers a pay-as-you-go service in its true form where the infrastructure scales invisibly as the application requires it. Serverless going forward will have a major role to play across cloud and entire tech landscape for creating new user experiences making innovation more accessible.
Cloud Computing shows no signs of stopping and is here to grow. This is especially true for businesses that are looking for scalable and affordable solutions. Cloud computing will become essential for all companies to improve their remote working capabilities and still achieve profitability and deliver on time.