The State of Cloud Computing Industry Analysis in 2021: Trends and Forecast
Cloud computing has come a long way since its inception, revolutionizing the way businesses conduct their operations. The cloud computing industry is projected to grow rapidly over the next few years, with an expected compound annual growth rate of 17.5% between 2021 and 2028. In this blog post, we will discuss the current state of the cloud computing industry, trends, and forecast for the year 2021.
What is Cloud Computing?
Cloud computing is the delivery of computing services, including servers, storage, databases, software, and analytics, over the internet or the cloud. Cloud services offer several benefits, including lower operational costs, scalability, and flexibility. Some of the popular cloud service providers include Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform.
Trends in Cloud Computing
1. Hybrid Clouds: Organizations are adopting hybrid cloud solutions that offer the advantages of both public and private cloud infrastructures. According to a study by Flexera, which surveyed 750 tech executives, 93% of respondents used a multi-cloud strategy. This trend is expected to continue in 2021.
2. Edge Computing: With the increasing use of the Internet of Things (IoT), data processing is moving closer to the edge, where data is generated. Edge computing can reduce data latency and improve real-time response. This trend is expected to grow in 2021.
3. Artificial Intelligence (AI) and Machine Learning (ML): Cloud computing providers are integrating AI and ML services into their cloud offerings. This integration enables organizations to develop intelligent applications that require significant computational resources. This trend is expected to gain momentum in 2021.
4. Serverless Computing: Serverless computing allows organizations to run their applications without worrying about the underlying infrastructure. This trend in cloud computing is expected to continue in 2021 as more and more enterprises move towards a serverless architecture.
Forecast for Cloud Computing in 2021
According to Gartner’s forecast, the global public cloud service market is expected to grow by 18.4% in 2021, reaching a total of $304.9 billion. Cloud adoption is expected to remain strong across all business domains, with major drivers including digital transformation, remote work, and the need for data insights.
In conclusion, in 2021, we expect the cloud computing industry to continue to grow and evolve, with organizations increasingly adopting cloud solutions to streamline operations, reduce costs, and improve productivity. The growth of hybrid clouds, edge computing, AI and ML, and serverless computing is expected to drive the industry forward. As this industry grows, it will be essential for organizations to keep up with the latest trends and technologies to remain competitive in a digital-first world.
