IT departments to become trend-setters with the adoption of various cloud computing services & hence getting unhindered adoption by the companies with different IT budgets
Cloud Services & Applications
The application of cloud computing technology is becoming a commonplace across enterprises of all sizes and geographies and gaining fast emerging as a ubiquitous technology. Industries worldwide are gaining competitive advantage by increasing the adoption of different and newer cloud based services by exploring innovative business models.
As the technology is getting unhindered adoption by the companies with varied IT budgets, the talking point in corporate domain is to which services would gain traction in near future and most importantly the reason for the segment gaining prominence. The adoption of cloud based services have led to IT departments of various organizations become agenda setters that driving digital innovation. The benefits are many: enterprise cost reduction, enhanced security and scalability, protection of voluminous data and round the clock access. World over, businesses with limited budget will be proactively invest in a network infrastructure that can handle computing and storage needs without spending on costly hardware; the service providers enable them to subscribe to a demand-based system that uses pay-per-use basis. This lends immense scalability to small companies by cloud computing services, making them trend-setters among rival companies by using just the right technology. And no doubt, the benefits are quantifiable, as the market analysts assert.
Market Growth Prospects
As per a recent report by Allied Market Research titled “World Cloud Services Market - Opportunities and Forecasts, 2013 – 2020”, when compared to conventional physical storage, cloud services is estimated to save 35% of the annual operations cost. As per the report, the global cloud services market would grow at a CAGR of 17.6% from 2014 to 2020, reaching a market size of $555 billion in 2020
Clients have a plethora of computing services options to choose from depending upon their needs and budget. Clients can choose from infrastructure as a service (IaaS), software as a service (SaaS), platform as a service (PaaS), or business process as a service (BPaaS), among others and the models of implementation can be public, private or hybrid – combining features of both the models. As per Gartner, Inc., worldwide public cloud based services market would reach $204 Billion by the end of this year, while IaaS would continue to be the dominant segment as enterprises increasingly shift their infrastructure requirement to the public cloud. A prominent example of IaaS is Amazon web services, while the familiar examples of SaaS are Microsoft Office 365, Salesforce and Google Apps.
Cloud service providers to offer the maximum benefits of cloud computing technology should persuade companies and organizations make most applications cloud-optimized. These will be possible only when these applications provide various a range of benefits to organizations of varied interest and sizes, which are otherwise inaccessible at present.