Cloud computing is undoubtedly, the future and enabler of exciting technologies in the not too distant future.
Cloud computing is all the rage these days, it probably is for a good reason. It redefined how we perceive the limits of technology and expanded the barrier for more possibilities. Something relatively common to us, such as automated service delivery would not likely be possible without cloud computing. Can you imagine shopping on KLOOK, Fave, Agoda, and your other favourite shopping channels without immediate purchase confirmation and voucher delivery? Ain’t nobody got time for that.
Cloud Computing and Market Leaders
The competition for leaders in cloud computing is fierce but there is one clear distinct leader – Amazon Web Services (AWS). It is estimated that AWS owns 33.8% of global market share. In contrast, Microsoft, Google, and IBM only accounted for 30.8% in the market. Other competitors such as Alibaba and Oracle making their presence known in the cloud computing race too.
Cloud Computing In The Future
The worldwide public cloud services market is expected to grow 16.6% in 2020 to a total of US $ 248.8 billion, increased from US $ 214.3 billion from 2019. Cloud computing providers such as AWS is set to benefit as demand grows, supply will be made available to match the needs of businesses worldwide.
Reasoning Behind Increasing Demand
Better Speed and Agility
As human beings, we hate waiting as the impatience drive us over the edge. Therefore, when one is paying customer, it is expected that products and services should be swiftly provided to them – since they paid for it, why keep them waiting?
Customers are estimated to be only willing to wait 14 minutes before they are served. As expected, customers have a short fuse. Thankfully, cloud computing assists businesses to be more responsive.
Provisioning resources to manage new changes to business operations is time consuming. Cloud computing puts an end to that by making resources readily available for immediate access.
Accelerates Innovation
Has there ever been a time where you went shopping but the item was out of stock? You went to check the online store and found that the item is still in stock, and an immediate purchase ensues? You might consider this your good luck.
To the business owner, that’s a money-making opportunity not lost. Cloud computing helped to enhance their sales and marketing aptitude. Thanks for the ample resources afforded by cloud computing, business have become “smarter” and expanded their reach to customers.
Evidently, there was a remarkable increase in spending from US $4 billion in 2011 to an estimated US $15 billion for cloud computing – that took place in retail industry. Retailers who are not content with declining profits of sales in physical sales rise anew through online shopping.
Reduced Cost of Management
Managing in-house IT infrastructure requires the right talents, most importantly, generous flow of budget to operate and maintain it in good shape. For a small business, the cost spent on IT infrastructure could have been redistributed to other projects.
Cloud computing solutions delivered by notable providers, are in general, affordable as many options and plans are available. These providers purchased the infrastructure in bulk and implemented process automation to eliminate human labour. As a result, the lower cost of operation is reflected on the price tag of cloud computing solutions.
