Individuals and businesses around the world have been taking advantage of cloud computing to process and store important files and data on a remote server that can be accessed from anywhere. And cloud computing also offers a range of services that can help companies operate more efficiently and effectively. Plus, with the rise in remote work caused by the COVID-19 pandemic, the cloud is becoming more popular than ever, so it is no surprise that this type of technology is expected to grow even more quickly in the near future.
To get a better idea of how important cloud computing is, continue reading to access some interesting stats.
- The top cloud computing providers include Amazon AWS, Microsoft Azure, Google Cloud, IBM Cloud, and Alibaba Cloud.1
- The biggest concerns when it comes to using the cloud include an incorrect setup, unauthorized access, insecure interfaces, hijacking, and external data sharing.1
- The average individual utilizes around 36 cloud services.6
- Experts predict that, by 2023, the global cloud computing market will be worth roughly $623.3 billion.17
- In 2020, the most commonly used type of cloud in large businesses was the hybrid model.11
The Cloud in the Workplace: Benefits vs. Drawbacks
Because of the many benefits that it can provide, the cloud has become increasingly more common in the workplace, but certain industries rely on this technology more than others. Here are some helpful statistics to give you an idea of how employers and employees are using the cloud to do business.
- Industries that spend the most amount of money on cloud computing services include manufacturing, professional services, and banking.8
- On average, businesses throughout various industries use roughly eight clouds. And it is expected that the insurance and telecommunications industries, in particular, will use roughly 11 clouds by 2023.12
- Despite its many perks, the use of cloud services also comes with challenges and drawbacks. A survey found that roughly 83% of the participants viewed security as the biggest issue that came with the use of cloud computing technology within an organization.9
- Hybrid and multi-cloud options are often utilized in business. Around 74% of organizations use these to make the most of both public and private clouds.8
- Some of the top reasons for using the cloud in business include improvements in speed and flexibility.8
- A survey found that the biggest obstacles getting in the way of businesses being able to take full advantage of public clouds in 2020 were: controlling cloud costs (40%) and data privacy and security (38%).14
- In terms of data management challenges, over 60% of a survey’s respondents stated that it is difficult to manage their data in a multi-cloud environment. This is expected to be a top challenge from 2020 to 2022.15
SaaS, PaaS, and IaaS Are All Doing Well
There are three main segments within the cloud computing market, and they are Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Here are some statistics regarding each of these to give you an idea of how many people and organizations are taking advantage of them.
- As of 2021, the SaaS market is worth roughly $123 billion. It will likely keep growing because businesses are turning to SaaS for everything from e-commerce to customer resource management.2
- Experts anticipate that, in 2022, the PaaS market will be worth roughly $71 billion.4
- It is expected that the IaaS market will be worth roughly $107 billion in 2022.5
The Use of the Cloud Is Expected to Continue Growing
In recent years, the use of cloud technology has grown, and businesses are expected to continue migrating to the cloud to take advantage of its myriad perks. Here are some stats from the past, as well as projections of the future, to give you an idea of how cloud use has grown and will likely continue to grow.
- As of 2020, around 55% of U.S. organizations used the cloud to store data that included sensitive information.16
- Across industries, there was a 37% increase in cloud spending in the first quarter of 2020.1
- Global public cloud infrastructure spending was expected to hit roughly $52.4 billion in 2020. On the other hand, private cloud infrastructure spending was expected to reach roughly $21.5 billion in 2020.13
- IT experts anticipate that, by 2025, 95% of workloads will be cloud-based. They also predict that 28% of business workloads will be in a public cloud and 30% will be in a private cloud.1
- Desktop as a Service (DaaS) is projected to grow to around $2.5 million in 2022. And Business Process as a Service (BPaaS) is projected to grow to around $50.3 million in 2022.6
The COVID-19 Pandemic Had an Impact on the Use of the Cloud
The spread of COVID-19 throughout the world in 2020 had an impact on just about every aspect of people’s lives, and it also impacted businesses of all sizes as well. As more and more individuals started working from remote, many started to rely more heavily on the use of a cloud to hold their files for easy access and sharing. So, it should come as no surprise that the cloud became even more popular in 2020.
- 87% of employers stated that they were planning on moving to the cloud more quickly because of the pandemic.1
- 68% of businesses that were working on moving to the cloud stated that they were using two or more providers to do so.1
- In some cases, COVID-19 caused businesses to cut their spending on cloud computing. 44% of companies cut SaaS spending because of the pandemic.3
- Although the cloud has helped make working from remote easier, it isn’t always perfect. Roughly 84% of IT pros were concerned about cloud security while people were working from home in 2020.10
Overall, there is a range of cloud services available for individuals and businesses. And those services are seeing steady growth across a variety of industries. Organizations large and small can take advantage of cloud technology to improve their operations and cut back on costs, so more and more of them are adopting this type of service.