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Cloud computing statistics for 2021 & forecasts for 2022
The Joys of Cloud Computing
Through cloud computing, businesses no longer need to invest in software or hardware for accessing databases, data storage, servers, networking software and such related resources. With cloud computing, they enjoy faster load speeds and more flexible resources which they can grow and scale with greater ease. And crucially, these are flexible resources that are accessed on a pay-as-you-go basis.
As a result, with no up-front investments required, ‘on-demand software’ allows businesses to budget more precisely for the use of state-of-the-art applications as and when they need them.
Some blogs ago, we examined the benefits of and differences between the 3 'as-a-service' cloud computing models most popular these days (SaaS, PaaS and IaaS), and outlined how best to determine which might suit these requirements.
All well and good. Now, however, let’s put our heads further in the cloud to look at some statistics regarding these as-a-service platforms and evaluate how businesses are faring with them at present and what we can expect from the cloud computing industry going forward.
Cloud Computing Application Statistics by Segment (SaaS, PaaS and IaaS)
So using the said models as a guide, we’ll start off with some rather promising indications:
With 2021 nearly at an end, the software-as-a-service (SaaS) market is now estimated to be worth approximately $145.5 billion (USD).
SaaS applications are run within the cloud and are usually accessible through desktops and mobile applications and web interfaces.
Saas is the largest segment of all cloud services and is expected to remain as such for the foreseeable future.
In 2022, it is estimated that the platform-as-a-service (PaaS) market value will be in the environs of $101 billion.
In cloud computing, PaaS is a complete development and deployment environment in the cloud. Here, customers only purchase resources as and when they are required, with providers managing everything else -- save the actual applications and services these customers are developing.
Also in 2022, the infrastructure-as-a-service (IaaS) global market is expected to be worth around $122 billion - an increase of approximately $30bn over this year, and nearly double of what it was in 2020.
IaaS is an infrastructure that is managed by the cloud services provider and delivers fundamental network, computing and storage resources on demand. As such, it reduces the need for owned infrastructure, which can often be difficult and expensive to maintain.
So with this in mind, these are promising indications indeed. Moreover, as recently as 2019, the global cloud applications market was valued at around $124.1 billion; by 2024, it is expected to approach $167 billion.
All in all, it is a software market that is anticipated to grow at a compound annual rate of 6%.
Statistics for Global Market Share of Cloud Infrastructure Services
As of mid-2021, Amazon Web Services (AWS), held about a third of the cloud infrastructure services market. In fact, AWS's share has remained steadily at this rate since at least 2017.
Beyond Amazon, Microsoft Azure and Google Cloud take 20% and 10% respectively, with all remaining providers combined at about 28%.
Hybrid, Public & Private Cloud Computing Statistics
(And What is Hybrid Cloud Computing?)
Though its definition may vary, hybrid cloud is an architectural style combining at least one private cloud with at least one public. As such, it is not technically a product. With a hybrid cloud, IT resources are consolidated, connecting multiple devices through a network, orchestrating processes aided by automation. Generally, they will reside in a single stratum of management.
A principle benefit to companies adopting such an approach is the ease and flexibility gained from securely storing and moving data and workloads to and in different environments. With a hybrid cloud, organizations can also gain greater control over private data.
The global hybrid cloud market size in 2020 was estimated at $52bn USD and, with the Asia Pacific region growing most rapidly, is expected to reach $145bn by 2026.
Public Cloud Computing
With no signs of slowing growth, by the end of next year (2022) the public cloud market value is expected to reach the environs of $482bn USD. This means business processes, platforms, infrastructure, software, management, security, and advertising services.
As cited above, this market is dominated by AWS, Microsoft Azure and Google Cloud and is one some experts believe could reach a total value of $623 billion by 2023.
Private Cloud Computing
A private cloud is a service offered over a private network or the internet to a specific group of users. As the name itself indicates, a private cloud is not available to the public which is why it is also referred to as the corporate cloud or internal cloud. As such, its management requires a high level of expertise from a given, internal IT department.
As of the final quarter of 2020, 36% of respondents alone, in a survey of technical professionals, claimed they were using vSphere.
Miscellaneous Statistics on Cloud Usage
83% of all company workloads will be stored on the cloud by the end of this year, which is expected to increase to 95% by 2025.
67% of all enterprise infrastructure will be cloud-based.
66% of all cloud usage in the EU is for email functions and 53% for file storage.
Organizations of 1000 or more look to the cloud for improvements in speed, flexibility and reduced operating costs.
In 2021, the industries spending the most on cloud-based technology are:
- Professional services - $19 billion
- Manufacturing - $18 billion
- Banking - $16.7 billion
An average employee will use 30 or more cloud-based services on a daily basis
The Forecast is Cloudy
Since its introduction to the technology market ten years ago, cloud computing has flourished almost exponentially. Even the most cursory look at statistics will confirm that business migration to the cloud will continue to accelerate in the coming years.
Furthermore, the emergence and multiplication of new as-a-service models such as database-as-a-service (DBaaS), data-as-a-service, desktop-as-a-service (DaaS), function-as-a-service (FaaS) and hardware-as-a-service (HaaS), cloud technology will continue to broaden with this acceleration.
With reduced operational costs, increased ease of accessing and analyzing big data, enhanced automation of setup and a greater breadth of security ecosystem technologies, it seems almost inevitable that all modern businesses will eventually take advantage of the cloud’s myriad benefits.
At Startup Development House, we’re highly experienced in helping such businesses adopt and develop effective applications using cloud-based technology. If you’d like to find out more about how we can guide your organization to gaining greater efficiencies with cloud services, don’t hesitate to reach out at email@example.com
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