We’re in an unprecedented age of technology, and this is changing the way we run businesses and manage finances. Long gone are the days of filing cabinets full of papers dating back decades, as the rise of cloud-based systems has given people all over the world the ability to store masses of data using the power of the internet.
This shift towards digital data management has not gone unnoticed, with sites like Skilling analysing the way in which cloud computing is shaping the financial sector, and the effect it’s having on trading. Indeed, the cloud computing industry is growing at a rapid pace, with estimates suggesting that the value of the sector could reach as high as $700 billion by the year 2025 – a remarkable rise for such a young industry.
The advent of cloud computing has had an impact on all of our lives, whether it’s through storing the photos on our mobile phone on the cloud, or helping our enterprises evolve and save money. Let’s take a look at just why cloud technology is having such a major impact on the modern world.
How cloud computing impacts businesses
Cloud-based services have allowed businesses to save money through storing their data, and managing networks and processing online rather than through data centres. Ultimately, this saves companies a fortune, as they are able to manage large aspects of their day-to-day operations through the power of the internet.
Whether it’s data storage, networking, servers or software, these are all things that take time, effort and money for companies to manage and maintain. Cloud computing takes away much of that hassle, as all the nitty gritty processes that make up those services are handled in cyberspace, while businesses can devote their time towards growing and improving their offerings.
The reason for the rise in value
Given what we’ve outlined above, it’s not surprising that the value of the cloud computing industry is expected to reach such high levels moving forward. Part of the reason for this is the sheer popularity of the technology, and the clear advantages it brings for enterprises. In fact, it’s expected that by the year 2022, more computing processing power will be provided through Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) providers than through enterprise data centres – proof of the growth the cloud computing industry is enjoying.
None of this is a surprise. The ability of companies to handle the less fashionable aspects of their operations using cloud technology allows them to save money, time and resources. Not only that, but it can also increase data security, which is a vital perk of utilising such services.
Looking to the future
The future is a bright one for the cloud computing industry, and if forecasts are to be believed, the sector will be a major player moving forward, as enterprises all over the world continue to make the shift towards cloud-based services.
What’s more is that the sector is still evolving. New technologies within the cloud computing industry are still being developed and researched, and that makes the future all the more exciting for those working in, and those seeking to benefit from, the cloud computing market.