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The public cloud services are further expected to increase by 200% and reach US$76.1 billion by 2023.
The study, based on a survey of IT decision makers across 20 industries, found that cloud computing is rapidly becoming the norm among enterprises because it helps them improve business agility as a whole. As specified by Ashutosh Bisht, Senior Research Manager for Customer Insights & Analysis at IDC Asia/Pacific:
“Improving the business agility and speed is the main focus area for the adoption of cloud technology in the region, access to new refined functionality and giving the business units more direct control over the sourcing of their own IT solutions are the other focus areas.”
Another survey by Right Scale highlighted the influence of cloud computing on businesses worldwide through the increasing adoption rates of large cloud players like Amazon Web Services, Microsoft Azure, Google Cloud, and AliCloud. Apart from improving their operations and processes, cloud computing has also positively influenced the revenues of these IT giants.
Google CEO Sundar Pichai revealed on Google's fourth-quarter earnings call that the Google Cloud Platform was a US$1 billion per quarter business with the company’s annual revenue for the year 2019 amounting to US$10 billion. Meanwhile, Microsoft announced that its commercial cloud revenue value stood at US$21 billion, resulting from the increased adoption rates of Microsoft Azure from 26% to 43%. The latest entrant to the cloud computing scene, Alibaba Cloud , quickly gained ground and became the fastest growing cloud provider with a reported 93% increase in revenues in just two years.
Alibaba Cloud or Aliyun, the cloud computing and data intelligence arm of Alibaba Group that holds the highest market share in the APAC region, has further announced plans to invest US$28 billion into cloud infrastructure in the region. The flurry of activities by these industry bigwigs, along with recent technological trends, has contributed to this rise of cloud adoption among organizations worldwide.
PC Mag defines cloud computing as “a means of storing and accessing data and programs over the internet instead of your computer’s hard drive. The cloud is just a metaphor for the internet.”
In more technical terms, cloud computing is an application-based software infrastructure that works by renting access to applications and storage from a cloud services provider instead of owning computing infrastructure or data centers. The main computing occurs on a remote machine, apart from what is currently being used. The data that is collected during this process is saved and processed by cloud servers.
The cloud servers free up the memory and computing power of disparate computers by hosting platforms, software, and databases remotely. Users can then access cloud services securely by using the appropriate credentials obtained from the cloud computing provider.
Cloud computing generally follows three delivery models:
According to IDC, building the infrastructure needed to support cloud computing services now constitutes more than 33% of global IT spending. Likewise, 451 Research predicts around one-third of IT spending to be dedicated to hosting and cloud services this year.
Sid Nag, research vice president at Gartner said that, “At this point, cloud adoption is mainstream. The expectations of the outcomes associated with cloud investments, therefore, are also higher. Adoption of next-generation solutions are almost always ‘cloud-enhanced’ solutions, meaning they build on the strengths of a cloud platform to deliver digital business capabilities.”
Gartner sees this trend continuing through 2020 and expects most companies to have cloud-first or cloud-only policies by the end of the year. Improved time to market, increased flexibility, lower operating costs, and better collaboration are some of the factors contributing to this remarkable trend.
Here are ten more reasons why cloud computing is imperative and how it can become a significant change driver for your business:
With the public cloud service market predicted to reach US$623.3 billion by 2023 and 83% of enterprise workloads are tipped to be in the cloud by the end of this year, the time to move to the cloud is now. It helps businesses scale and keep up the pace in a competitive market by providing mobile access to data with improved manageability and maintenance, unparalleled flexibility, and availability of resources on-demand.
If you, as a business, are striving for improved business agility and better outcomes, migrating to the cloud should be your first step. The benefits of migrating to the cloud are many, and it can help you:
IDC published a handy market assessment guide in 2019 that shared tips on how to choose the right managed cloud services provider. It gave relevant guidance to leaders and decision-makers on differentiating cloud services providers by comparing them on the basis of the breadth of their services, a robust portfolio of managed services, how quick they are at achieving disaster recovery, availability of 24/7 support, etc.
An independent report by Crisp Research further highlighted improved business outcomes for companies using managed cloud services and suggested that enterprises ask themselves the following questions as part of their managed cloud services provider assessment process:
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