Global Top 10 Cloud Technology Market: Snapshot
Cloud computing is a type of computing that involves the use of the Internet to allow for the transfer and storage of data as well as the processing of data by the users, on remote servers. The use of data processing tools based on other devices is currently a highly sought-after technology that provides massive advantages to users in terms of savings in time, space, and money. Cloud computing today involves on-demand services that are provided through shared resources in computing technologies. These resources can be swiftly released or provisioned and doing so needs very little effort from the management aspect.
The top cloud computing technologies can provide clients, users, and enterprises with the option to process as well as store critical data in privately owned clouds, or even shared clouds with other clients, users, or enterprises. Security is a key concern in cloud computing, something that is receiving a high degree of attention from the providers of cloud computing technologies. The reinforcement of safe and secure data storage and processing services is likely to create a higher volume of demand for cloud computing over the coming years.
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Global Cloud Technology Market: Overview
In general terms, cloud computing is the delivery of hosted services over the Internet. Rather than maintaining and building an in-house computing infrastructure, cloud computing enables companies to use resources of compute, such as machines, storage or an application. Pay-per use, self-service provisioning, and elasticity are the key benefits of cloud computing that can be availed by businesses and end users. Cloud migration, cloud analytics hybrid cloud, cloud orchestration, cloud storage, Integration Platform-as-a-Service (iPaaS), multi cloud management, Disaster Recovery-as-a-Service (DRaaS), Video-as-a-Service (VaaS), and Wi-Fi-as-a-Service are the major cloud technologies.
Global Cloud Technology Market: Key Trends
Through a massive shift to cloud, organizations and businesses are able to move their computing resources such as databases, infrastructure, applications, platforms, and email onto the cloud. It assists in lowering the costs, aids in recovering files, speeds operations, and manages other mission-critical tasks. It also enables business continuity while shifting workload to the virtual environment from the data center. Faster deployment, agility, mobility, scalability, lower total cost of ownership, and business continuity are the major drivers of cloud migration.
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The exponential growth of digital services and their applications, along with the increasing need of business enterprises for greater scalability and flexibility, has augmented the implementation of hybrid cloud services and solutions, thereby driving the demand for cloud technology.
Global Cloud Technology Market: Market Potential
More and more organizations and end-use industries are resorting to cloud computing. Several health organizations digitize their abundant data and are on a constant lookout for cloud providers to help them understand the scalability of cloud environments without foregoing compliance and security controls. As per a report by SADA Systems – a premier business and technology consulting firm and cloud partner, 58% of healthcare organizations globally that are not using cloud today are likely to do so in the next two years, while 95% of healthcare organizations using cloud today propose to increase their cloud usage.
Recently it was announced that by late 2018, Belarusian government agencies will start using beCloud’s cloud computing platform. After signing relevant documents, all government agencies have to migrate to the beCloud platform. Over 60 government organizations and agencies are required to make the switch.
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However, many federal agencies are not in sync with the given cloud computing advantage and find that such migration has little or no impact on functionality. It is causing newer applications to load slowly, become non-intuitive, and above all, difficult to work with. According to the findings of Deloitte and the Government Business Council (GBC), many employees from major government, defense, and civilian agencies have reported that cloud computing had no obvious influence or any impact on their organization.
Global Cloud Technology Market: Regional Outlook
North America, especially the U.S., accounted for a large share in the f cloud technology market in 2015. Collaborations, content and communications along with customer relationship management are the key drivers for the growth of the regional market during the forecast period. However, as the market in North America is nearing maturity, various industry players are venturing into the emerging markets of the Middle East, hence boosting the market for cloud technology.
The Middle East is fast becoming a lucrative market for cloud technology. Under the paid-subscription category, numerous organizations have started implementing cloud-based applications that do not require any downloading or upgrading nor is there any need to maintain any servers. To be at par with IT developed nations, governments in the Middle East have largely invested in the development of IT skills to help solution providers to tackle the dearth of skilled professionals in the region.
Global Cloud Technology Market: Competitive Analysis
Some of the prominent players operating in the global cloud technology market are IBM Corporation, Cisco Systems, Inc., VMware, Inc., Amazon Web Services, Microsoft Corporation, Oracle Corporation, HP Enterprise, Rackspace Hosting, Inc., Google, Inc., and SAP SE.