The Exponential Growth in the Cloud Service Solutions

The cloud is not a personal private space anymore. Enterprises have accepted that this future service is not a tool anymore. The cloud has evolved in the last five years ranging from private storage to being a computing centre for a company. Executives are finding new easy ways to use cloud services to achieve their desired goals. Comparing Statistics, around 1.6 ZB of traditional data centre traffic was reported in 2013 which rose to 6.5 ZB as cloud data traffic in 2018. Businesses that work with such big data will use this increased space to store large data sets, analyse them, and collect valuable insights into systems, investments, and customer behaviour. IoT has been one of the biggest impediments to the cloud computing. Microsoft, Amazon, and Google are the current leaders in the terminology of cloud computing. Furthermore, The SaaS, PaaS, and IaaS will increase the number of cloud solutions. By 2020, the default way for business will be cloud service. Organisations will take continuous advantage of cloud services to tackle their daily diverse array of business problems.
The Money Talk
Forrester, an American technology market research company predicted a significant rate of growth in cloud services from the year 2015 to the year 2020. The overall rise is expected to be at 22 percent CAGR (Compound Annual Growth Rate) between these five years. Additionally, the public cloud platforms and business services will reach $236 billion by 2020. Silicon Angle, a modern data-driven digital media platform has predicted that the cloud spending will reach 16 percent CAGR by 2020. The International Data Corporation observed an increase at 4.5x in cloud data in the year 2009 and predicted it to grow at 6x through 2020. Last, the dollars spent on IT softwares and services will reach 547 billion in the year 2018. US business spends more than $13 billion on cloud computing and services in 2014 and post-2015 showed end users were spending around $180 billion on cloud services.
The “As a service” Formula
SaaS, PaaS, and IaaS will play crucial role in the growth of cloud solutions. SaaS (Software as a Service) enables a user to use software as a service usually on a subscription basis. This service eradicates the need to own and support a high-end hardware system. The Brian and Company have predicted the increase in the growth of SaaS to reach 18 percent CAGR by 2020.
PaaS (Platform as a Service) delivers hardware and software tools required for application development. It is expected to rise from 32 percent to 56 percent in the year 2017 and 2020 respectively.
IaaS (Infrastructure as a Service) provides virtualized computing resources over the internet is expected to reach $17.5 billion as predicted by Statista.
Amazon’s, AWS (Amazon Web Services), Microsoft Azure, and Google’s GCE (Google Compute Engine) are currently the leaders in cloud solution providers.
Basic Reason- It’s Inexpensive
It can be said that the cloud services do not follow the rule of supply and demand. This cloud solution has both supply and demand in high requirement, some even providing cloud solutions free. The lack of on-primes infrastructure removes associated cost and actually saves a lot of money in the long run. Currently, a price war can be seen in the cloud market where the Amazon and Microsoft are fighting to dominate the market by providing the cheapest cloud services.
Spark Generated by the Revolutionized Internet
The main notion to store data online is sparked by the high-speed internet. These both attribute i.e. Internet and cloud, mutually provides service to each other; one becoming the source of data and the other the destination. Additionally, with artificial intelligence in play, the continuous innovation in real-time data analytics and cloud computing is pushing the internet to rise further in the upcoming years. Consumers need to expect the faster and better internet connection from ISPs to store and generate a huge amount of data. Furthermore, the IoT and IoE industries will be able to receive and deliver data in real time by using this fast networks.
Advancements in Privacy and Security
Security has always been an issue with the technology. WannaCry, ransomware, and CIA vault 7 have already made their name in the list of dangerous cyber-attacks from 2017. These breaches have made enterprises to make security and privacy their top priority. In the future, cloud infrastructure will see more individual and sponsored attacks undermining its security. IRTC (Identity Theft Resource Centre) reported that cyber breaches have increased at the rate of 37 percent from 2016. GARTNER estimated that the security division is going to reach $93 billion in 2018 from 2017’s $86 billion. IDC researched the same and predicted the overall number to reach $101 billion through 2020. The government, public, and private sectors have to become more sophisticated in the prevention of these attacks. Industry giants such as Microsoft and Google are already investing heavily in tools which will reinforce improved privacy and security in cloud solutions. Prediction can also be made in the rise of hybrid cloud solution combining on-premise public and private infrastructure adding layers of data protection.