Content
Introduction
Market Drivers
What is the Cloud?
Benefits
Characteristics
Cloud Computing Models
Types of Cloud Computing Services
The Cloud Market
The Battle for the Cloud Infrastructure Services Market
The Challenges of the Cloud
The Future of the Cloud
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Introduction
Technology contributes to revolutionizing the world through ongoing evolution. In recent years, organizations have started requiring Cloud Computing services (aka ‘the Cloud’) in such proportions that the Cloud now greatly impacts different economic sectors. This innovative and ubiquitous technological solution has changed many aspects of our personal and work lives.
The impact of the Cloud on the economy would be easy to exaggerate; yet our lives have been undeniably transformed by omnipresent software solutions that run on Cloud-based networks.
The Cloud Computing market produced significant advances at a time of great threat to the world, such as the global health crisis or the Russia-Ukraine war. In the third quarter of 2020, worldwide demand for global computing accelerated as various organizations migrated their workloads from traditional channels to digital platforms.
The forces driving the Cloud are the increased use of information technology (IT), a diverse landscape of providers, greater availability of a skilled labor force, greater awareness of the benefits of Cloud Computing, and an increase of emerging technologies.
In general, Cloud Computing is an IT model where servers, networks, storage, development tools, and applications are enabled over the Internet. Instead of companies having to make large investments to acquire equipment, train staff, and provide ongoing maintenance, Cloud service providers can handle some or all of these needs. This reduces corporate investments and allows companies to focus more efficiently on their core business.
The migration of all computing services and infrastructure to the Cloud marked an inflection point in future IT as it created a huge opportunity for development, process optimizations, and cost savings. And while it is still at an early stage, the Cloud’s potential is enormous.
Before the Cloud, organizations stored all their data and software on their own hard drives and servers, onsite. The bigger the company, the more storage it required. This way of handling data prevented prompt scalability. For example, if an organization suddenly increased the volume of data transactions, represented by a substantial increase in online orders or business transactions, its systems (particularly its servers) would immediately crash.
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