When looking back in 2021, everyone can proudly say that all the companies are adopting the fast-growing technology – the cloud. Cloud technology is popularly used to unlock new insights, improve the customer experience and build a new business model.
It is predicted that the global cloud computing market will grow up to $461 billion by the end of 2025, which means a 17.5% CAGR (Compound Annual Growth Rate). Also, it is said that cloud computing will be implemented in companies from all the industries like telecom, education, banking, retail, media and many more.
Growth of cloud in 2020-2021:
2020 has been different from other years since all the companies had to transform their operations within a night to online. Business continuity was only made possible with the use of cloud technology. As of 2020, six out of ten companies moved their work to the cloud to continue their business operations.
This trend is also likely to continue in the upcoming years, which means around 46% of the companies can witness a reduction in financial costs. While the future needs continue to grow, all the cloud providers continue to provide services that will fulfil the demand of the cloud users. Since the public cloud is cheaper, 31% of enterprises use cloud technology.
According to the research, it is said that around 90% of the enterprises around the globe will start using the multi-cloud in 2022. Cloud technology is taking centre stage in recent times because it's easier to store, manage and process data.
It's more interesting, right? Want to know more about cloud computing? Take the Google cloud platform training at EkasCloud to find more information about the cloud. With this training, you will know that the public cloud has become a necessity for every business rather than a luxury.
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