Cloud computing has garnered a lot of popularity, since its introduction to the public eye. The present pandemic, on the other hand, has accelerated adoption. Businesses are now seeking for methods to weather the storm, and cloud computing is the best solution. That is why the cloud computing market, which was valued at USD 317.4 billion in 2020, is projected to reach USD 832.1 billion by 2025.
1. Global Public Cloud Infrastructure Market
- According to Forrester Research, the global public cloud infrastructure market will grow 35 percent to $120 billion by 2021, as the cloud continues to “take center stage” in the recovery from the pandemic.
- Cloud system infrastructure services (IaaS) spending is projected to increase 26.9 percent to $65.3 billion.
- Gartner claims that, software as a service (SaaS) is expected to grow approximately 16 percent to $117.8 billion, application infrastructure services (PaaS) will grow at a higher 26.6 percent rate to $55.5 billion.
2. Reshuffling Of the Big Three Cloud Providers
- According to Forrester, the top three public cloud providers will reshuffle in 2021, with China’s Alibaba Cloud displacing Google Cloud to occupy the No. 3 revenue position in the global public cloud infrastructure market, behind Amazon Web Services and Microsoft.
- Revenue from Google Cloud Platform (GCP), Google Workspace (previously G Suite) productivity tools, and other enterprise cloud services surged to $3.44 billion, compared to $2.38 billion in the same quarter last year.
- Park projected that Microsoft will surpass $25 billion in Azure cloud revenue in fiscal year 2021.
3. Edge Is the New Cloud
- According to Forrester, edge is the new cloud, and new edge suppliers will trim public cloud growth by 5 points next year.
- According to Forrester, large vendors such as Dell, HPE, IBM, and Intel are doubling down on the edge with cloud-like solutions that can be deployed anywhere.
4. Server-Less Computing
- The server less industry is predicted to grow by 25 percent between 2020 and 2025 as a result of the demand.
5. Hybrid/Multi-Cloud Solutions
- Hybrid/multi-cloud is predicted to rise to $97.64 billion in market size by 2023, with its massive benefits.
- For the benefits it delivers, 87 percent of businesses have already adopted hybrid cloud solutions.
- 93 percent of all enterprises are adopting a multi-cloud strategy.
6. Artificial Intelligence
- By 2024, the market for artificial intelligence is estimated to surpass $300 billion.
- According to an IBM research, 65 percent of businesses believe AI is critical to their strategy and success.
Automotive industry is seeing transformation at an incredible pace and in ways which were hard to predict just a few years ago. Along with the trends highlighted above, we also have innovations like Connectivity, Big Data & Data Analytics and AR (Augmented Reality) which have impacted the motor industry.