Cloud computing is firmly established as the new normal for enterprise IT. Across all industries, cloud adoption continues to rise as companies embrace new value through both hybrid and multi-cloud environments.
Many businesses now have a ‘cloud-first’ strategy, meaning that whenever they require new infrastructure, applications, or platforms, they look at the cloud-first.
Some of the key cloud computing benefits that are driving the rapid adoption of the cloud are:
- Reduced time-to-market
- High scalability
- Low capital investments
- Rapid elasticity
- Broad network access
- Cost predictability
- Balanced ROI
- Greater Agility
- Effective resource-pooling
As the cloud computing market continues to evolve rapidly, knowing emerging cloud trends, facts and stats can help businesses drive cloud transformation decision making, vendor and technology platform selection, and investment strategies.
Here are some of the key statistics about cloud computing that help you plan the next steps in your cloud journey:
10 Cloud Computing Statistics You Need to Know
1) Global Spending on Cloud IT Infrastructure to Reach USD 105Bn in 2024
According to IDC, the worldwide spending on cloud IT infrastructure is expected to grow at a five-year CAGR of 9.6%, reaching USD 105.6 billion in 2024 and accounting for 62.8% of total IT infrastructure spending.
Spending on public cloud infrastructure will grow at a 9.5% CAGR, accounting for 67.4% of total spending. Whereas the spending on private cloud infrastructure will grow at a CAGR of 9.8%.
Also Read | Cloud IT Infrastructure Revenues Down 10.2% in Q2’19
2) Global Cloud Computing Market to Surpass USD 1 Trillion by 2025
According to IDC’s Worldwide Whole Cloud Forecast, 2020–2024, the global spending on cloud computing services is projected to surpass USD 1 trillion in 2024. The demand for various cloud-related or whole cloud opportunities is expected to grow at a CAGR of 15.7% during the forecast period 2020-24.
3) Worldwide Public Cloud to Increase 6.3% in 2020
According to Gartner, the global public cloud services market is expected to reach USD 257.9 billion, up by 6.3% from USD 242.7 billion in 2019. Desktop as a service (DaaS) is forecasted to have the most significant growth in 2020, increasing 95.4% to USD 1.2 billion.
Source: Flexera
Also Read | Global Public Cloud Services Market Reached USD 233Bn in 2019: IDC
4) 94% of all workloads to be Cloud-based by 2021
According to Cisco Global Cloud Index (2016-2021), 94% of all workloads will run in cloud environments, including both public and private clouds. Even in on-premises, almost all workloads are going to run in a virtualized environment.
5) 72% of Enterprises Describe Their Cloud Strategy as Hybrid-first or Private-first
As per the Everest Group Survey of 200 enterprises, around 72% of respondents described their cloud strategy as hybrid-first or private-first.
6) 58% of Enterprise Workloads are on Hybrid or Private Cloud
According to the Everest Group Survey, 58% of enterprise workloads are on or expected to be on hybrid or private cloud.
7) 20% of Enterprises Annually Spend Over USD 12 Million on Public Clouds
According to the Flexera 2020 State of the Cloud Report, 20% of large enterprises invest more than USD 12 million annually on public clouds, up by 7% from last year. Meanwhile, around 74% of enterprises spend over USD 1.2 million per year on public clouds, up by 24% from 2019.
8) Optimizing Existing Use of Cloud is the Top Cloud Initiative
As per the Flexera 2020 State of the Cloud Report, ‘optimizing the existing use of cloud (cost savings)’ is the top initiative for 73% of enterprises. It is followed by ‘migrating more workloads to cloud’ (61%) and ‘expanding use of containers’ (51%).
Source: Flexera
9) Hybrid Cloud Infrastructure Market to Value USD 128 Billion by 2025
According to Mordor Intelligence, the hybrid cloud market is expected to reach USD 128.01 billion by 2025 from USD 45.70 billion in 2019, at a CAGR of 18.73%.
10) The United States Accounts for Over 50% of Public Cloud Services Spending
According to IDC, the United States will be the largest public cloud services market, accounting for over 50% of global public cloud spending through 2023. The public cloud spending in the US is forecasted to be USD 124.6 billion in 2019.
In Conclusion
Amid the coronavirus pandemic, cloud computing has gained immense prominence, driving its adoption and ensuring seamless performance in a remote work environment. According to IDC, by the end of 2021, businesses will deploy a mechanism to accelerate their move to the cloud twice as fast as before the pandemic.
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