As noted by some market reports, the global cloud computing market size was valued at US$266.0 billion in 2019 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 14.9% from 2020 to 2027. Factors such as growing digital transformation among industries, rising penetration of internet and mobile devices across the world, and an increase in consumption of big data are the primary drivers fostering market growth. The development of next-generation industrial solutions will be cloud enhanced and require a cloud platform to showcase their digital business capabilities.
Observing the rising graph of the cloud computing market, we can say that technology is most likely to introduce us to new innovative avenues in the near future.
Cloud serverless is a technique for implementing functions in the cloud on a required basis. The enterprises rely on serverless computing as it provides the space for working on the core product without the stress of operating or managing the servers.
Such a serverless platform has the potential to change the game of enterprise preferences and conception of cloud adoption with endless advantages. If this is not convincing, Gartner also stated the rise of serverless computing, marking the increase by approx. 20 percent of global enterprises.
Occupying the center stage – Hybrid cloud
According to Gartner, the worldwide public cloud services market is about to grow by almost 17 percent, computing to produce a gross amount of US$266.4 billion by 2020. This is a staggering number compared to the US$227.8 billion, calculated in the previous year.
Where the actual amount of enterprises using hybrid cloud was 58 percent in 2019 and 52 percent in the year 2018, the present year witnesses huge increment. When everybody was discussing this new technological existence, MarketsandMarkets also discussed the increased demand for hybrid cloud computing. They highlighted its feature, focusing on its multiple advantages, i.e., from efficiency to security.
Most of the enterprises are inculcating hybrid cloud in the IT infrastructure. The main reason to do so is its provision regarding the control and security of private networks as well as the expansiveness and versatility of the public cloud.
The current need- Digital natives
As per the study shared by Digital Marketing Resource Centre, millennials are expected to cover 75 percent of the workspaces by 2025. This data speaks for the trend of digital natives in the world.
With the changing world and evolving technology, the adoption of tech is visible in almost all the workspaces. The rise in the count is also due to the employee’s increasing needs. These digital natives demand more knowledge of cloud computing and every other tech advancement that comes in handy.
The much needed- Containers and Kubernetes
For years, containers have been the sport’s standard for application development in the public cloud. The ‘Build It Today and Use It Always’ formula is the major reason for its preference in most of the organizations.
For now, the rise of Kubernetes has extensively increased the use of containers to private cloud as well. The IDC predicts that along with Kubernetes, 95 percent of more new-micro services will be deployed in the containers by 2021.
Moreover, the Gartner prediction states more than two centralized applications to be used by most of the organizations by the year 2023. Such achievements can only be possible only if they improve work efficiency, save money, and speed application development. Also, the orchestration tool in the containers automates management, deployment, scaling, and networking.
The prior tech saver- AI in data centers
AI in data centers will see a peak rise in the coming years. The IDC forecasts that by the year 2021, AI spending will grow to US$52.2 billion with a total CAGR increase of 46.2 percent from 2016-2021.
The use of AI in data centers will serve multiple purposes like automating various manual tasks and also solving skill shortage issues. Along with this, the AI resources can help the enterprises to learn from their past data and have productive conclusions.
With the implementation of AI techniques, there will be more sophisticated solutions to data security without the need for human intervention.