Cloud computing has made a significant impact on businesses of all sizes in recent years. The ability to access computing resources and services over the internet on a pay-as-you-go basis has revolutionized the IT landscape. The past decade has been marked by the rise of cloud computing as large companies have started moving their operations to the cloud. This trend is expected to continue in the future, making cloud computing market share a crucial metric for businesses.
Exploring the Past
Cloud computing has its roots in timesharing -a computing model that dates back to the 1960s. At that time, users would share large, expensive mainframes by accessing them through dumb terminals. In the 1990s, the internet emerged as a new platform for information and communication, giving rise to the idea of software-as-a-service(SaaS). Salesforce.com, founded in 1999, is one of the early pioneers of SaaS. They provided a CRM software solution that could be accessed over the internet.
The term ‘cloud computing’ was first used in 2006 when Amazon launched Amazon Web Services(AWS). AWS offered businesses the ability to rent computing resources on-demand rather than invest in expensive hardware. This changed the way businesses thought about their IT infrastructure, leading to increased adoption of cloud solutions.
Present-Day Cloud Computing Market Share
As of 2021, the cloud computing market is dominated by three major players: Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform. AWS is the market leader, with a 32% share. Microsoft Azure is the second-largest player, with a 20% market share, and Google Cloud Platform is third with a 9% market share. Together, these three providers account for over 60% of the total public cloud market.
One of the key drivers of cloud adoption is the need to reduce costs. By moving to the cloud, businesses can avoid the upfront capital expenditures associated with purchasing and maintaining hardware. Instead, they can pay for computing resources on a pay-as-you-go basis. Cloud providers offer a range of services, including infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a-service (SaaS).
Future of Cloud Computing Market Share
The cloud computing market is expected to continue its growth trajectory in the coming years. According to Gartner, the global public cloud services market is forecast to grow by 18.4% in 2021, reaching $304.9 billion. The COVID-19 pandemic has accelerated the shift towards cloud-based services as businesses have had to adapt to remote work and online services.
One of the trends in cloud computing is the increasing adoption of multi-cloud strategies. Businesses are using multiple cloud providers to avoid vendor lock-in and increase resilience. According to Flexera’s State of the Cloud Report, 93% of enterprises now have a multi-cloud strategy.
Another development in the cloud computing market is the rise of edge computing. Edge computing involves deploying computing resources closer to where they are needed, reducing latency and improving performance. The growth of the internet of things (IoT) is driving the need for edge computing as more devices require real-time processing of data.
Conclusion
Cloud computing has come a long way since its inception. The adoption of cloud solutions has increased in recent years, leading to the dominance of a few key players in the market. The future of cloud computing is expected to be marked by continued growth, the adoption of multi-cloud strategies, and the rise of edge computing. Businesses that are able to harness the power of the cloud are well-positioned to compete in an increasingly digital world.
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