Cloud computing has amassed great popularity recently, especially through its adoption of innovative tech trends that have taken the world by storm. From the internet of things to artificial intelligence and even remote operations! Cloud computing has dominated the tech industry and is considered the enabler of future technologies.
This mass adoption of cloud computing has caused its market value to reach $545.8 billion , which is estimated to grow to 1,240.9 billion by 20217 with a CAGR of 17.9%. The increased value of cloud computing is further evident in that 60% of the world's corporate data is being stored in the cloud.
Today we'll be focusing on cloud computing trends we expect to see in the coming year, but the first step to delving into this "miraculous world of clouds" is to understand what cloud computing technology is.
Cloud Computing Explained
Cloud computing involves delivering services such as networking, intelligence, databases, storage, servers, analytics, and storage through the cloud; the term "Cloud" here refers to the internet. Cloud computing services are provided based on a pay-as-you-go model, meaning that users only pay for specific services and their level of consumption.
These hosted online services are delivered through three models which are;
- Software as a Service
- Platform as a Service
- Infrastructure as a Service
Cloud infrastructure is created through software and hardware components with which the cloud computing model is tailor-made following the needs of a certain enterprise and can thus be public or private.
Key Cloud Computing Trends in 2023
Al and ML Powered Cloud
AI and ML have gained a fair amount of traction in recent years. Still, businesses have failed to develop their AI infrastructure due to limited resources in the storage space and computational power needed for algorithm training and data collection.
But cloud services can hp in and save the day for these businesses by providing extensive and widespread networks that supply storage resources, cyber security tools, and better-optimized data centers. Cloud service providers will use AI and ML internally to overcome several technological barriers businesses face.
This is imminent as the Cloud AI market is expected to reach $13.1 billion by 2026, with a CAGR of 20.3%.
Edge computing and cloud computing may differ widely in terms of approach, but they can be used in tandem to produce computing systems that are both powerful and secure. This amalgamation of the two technologies can enable the creation of optimal computing environments that cater to an organization's specific needs.
Edge computing can provide high-speed data processing for real-time applications, whereas cloud computing can provide large amounts of data storage. The combination of these factors can make computing infrastructures much more robust, where large amounts of data will be stored and accessed in a quick and secure manner.
Undoubtedly, edge computing will find itself at the heart of all cloud storage strategies in 2023 .
Green Computing Initiatives
With the increasing concern for the environment, several tech companies have started acting on green initiatives for societal betterment and the satisfaction of customers. This has brought cloud sustainability to light, garnered a lot of attention in IT purchasing decisions.
The accessibility of cloud computing has caused organizations to maintain cloud services and applications to save on costs and become environmentally friendly. This process is cloud sustainability and can result in the simultaneous achievement of sustainability goals and business goals.
Cloud Resilience and Security
The digital world is faced with a plethora of threats in the realm of cyber security; these threats have been magnified with the transition of businesses to the cloud. This transition has brought about new security risks that can not only disrupt the flow of business but can reduce the level of trust customers have in the organizations.
To prevent these negative events from unfolding, tech companies will look to invest in the development of resilience and cyber security to prevent data loss and improve the digital business environment.
Blockchain technology and cloud computing have been on the rise this year, and what better way to enter the new year than with a collaboration? Blockchain can provide cloud computing with a number of benefits due to its scalability.
The deployment of blockchain technology in cloud computing could lead to enhanced cloud security by making use of hashing and encryption to prevent data tampering. The benefits don't end here, as blockchain architecture will allow the cloud to provide faster data management as well. Blockchain-based Cloud computing . will prove to be one of the most promising trends of the coming year.
Why Has Cloud Computing Gained Such Popularity?
The popularity of cloud computing in the business world is mainly due to the attractive benefits it provides for organizations. The most prominent benefits of cloud computing are.
With the help of cloud computing, several businesses have saved up on costs related to constructing and purchasing information management technologies and infrastructure. As of now, they opt to use fast internet connections to use cloud-based services, which diminished the need for costly IT departments and server centers.
Cloud computing allows businesses to take advantage of fast data backup and easy disaster recovery, which in turn makes business continuity easy and less costly; the main factor in play here is how data is mirrored at multiple redundant sites on the network of the cloud provider.
Tech companies all over the world are using cloud computing services due to their incredible ability to scale elastically. Meaning these companies are able to gain IT resources such as storage, computing power, and bandwidth irrespective of their geographical location.
Cloud computing is a technology that will shape the future of the tech industry in a number of positive ways; these trends are only the tip of the iceberg, as cloud computing will find its way into more new technologies as time progresses.
With the world migrating to cloud computing, all tech companies will want to dive right into this new technology, and for that, they'll need to hire cloud engineers. Aspired can come to the aid of these companies by providing vetted and skilled remote resources in this domain.