The cloud allows companies to access resources such as data storage, databases, servers, and networking software, without investing in new hardware or software. As such, it has become the ideal way for companies to use enterprise applications on a budget.
So, is the cloud better? To give you a better understanding, we’ve prepared some stats to help figure this out. You will see the trends in cloud computing for 2024 and decide if it’s right for your business in the long run or not.
What is Cloud Computing?
If you’re not sure what cloud computing is, then no worries. Simply put, cloud computing uses computing services such as storage, software, networks, and databases over the internet, or “the cloud.” The cloud offers faster load speeds and more flexible resources that companies can use to grow and scale much faster. With cloud computing, companies only pay for cloud services they use, which helps lower operational costs.
Benefits of Cloud Computing
1. Operating cost
The cost of operating on-site data centers and purchasing hardware and software can quickly add up. With cloud computing, enterprises rarely have to worry about these additional costs and can focus on other aspects of running their businesses.
4. Security & Reliability
A lot of enterprises are looking for a secure and cost-effective way to run their business. Many cloud service providers offer a broad set of technologies and policies that help control and strengthen the security ecosystems from potential threats, allowing enterprises to save substantial amounts of money on data backups and disaster recovery.
Cloud Computing Trends for 2024 (Key Statistics)
- 81% of all enterprises have reported that they have a multi-cloud strategy already laid out or in the works.
- At the end of 2021, 67% of all enterprise infrastructure was cloud-based.
- It is reported that 82% of the workload will reside on the cloud
- Amazon web services have the largest cloud computing market share at 32%.
- Platform-as-a-Service (PaaS) is expected to grow in adoption to 56% by 2020.
Now that we’ve gone through a few interesting facts let’s dive in a bit deeper and look more in-depth at how big cloud computing is in 2024.
General Cloud Computing Statistics
1. Cloud computing apps have nearly tripled since 2013, from 545 to 1427 different services.
Skyhigh
Cloud-based apps are expanding by the day, and research from Skyhigh reported rapid growth in adopting cloud computing systems from 600 international enterprise businesses. As organizations progressively adopt a no-office operation, connecting employees and sharing information through a secured network is the go-to option.
2. By 2021, a staggering 83% of the company workload will be stored on the cloud.
Forbes
A staggering 83% of the company workload will be stored on the cloud as a growing number of companies continue to move from the private to the public cloud. Even though the shared model gives you less control, you can still enjoy optimum security and ease of access.
3. The most prominent industries looking to spend the most on cloud computing in 2021 are manufacturing ($20 billion), professional services ($18 billion), and banking ($16 billion)
IDC
According to the IDC, the most prominent industries expected to spend the most money are manufacturing at $19 billion, professional services at $18 billion, and banking at $16.7 billion.
Looking at the cloud adoption trends, industries that deal with the most data yield the most active investors. The banking sector fits perfectly with this technology as they often need to retrieve heaps of delicate information from multiple secure locations.
4. The average employee uses 30+ cloud-based services daily.
Skyhigh
Skyhigh claims that The average employee uses 36 cloud-based services in their daily routine.
With over 200 services in the collaboration category alone, this stat comes as no surprise. There are other categories in cloud computing like collaborative tasks, file sharing, content sharing, data security, and more that have given rise to many different services.
5. The public cloud market alone generated $130 billion.
Statista
Statista reported that the public cloud market alone generated $130 billion. It’s important to know that the cloud industry can be split into three models — Public, Private, and Hybrid. Of the three, the public cloud model offers all the advantages of the virtual network environment for the wider community to enjoy.
6. Revenue from the public cloud sector is expected to jump to $331 billion by 2022 from $175 billion in 2018
Gartner
According to Gartner, the future is looking bright for the public cloud sector, and it is expected to grow from $175 billion in 2018 to $331 billion in 2020. Breaking down that statistic and looking at the previous year-to-year growth for comparison, the industry registered a massive 21% jump.
7. Demand for servers, Ethernet switches, and enterprise storage solutions is growing at the rate of 10.9%.
IDC
Cloud computing statistics from the IDC show a 10.9% growth rate in the demand for servers, Ethernet switches, and enterprise storage solutions. If this prediction turns out to be accurate, public cloud vendors will make more money and extend their influence. As such, IT infrastructure spending will reach $55.7 billion by 2022.
8. 7% of businesses firmly believe they have useful overall mission-critical company information.
RedLock
The need for a secure and well-structured cloud service is the priority is undeniable, and looking at the numbers, enterprise cloud adoption seems inevitable. A recent survey from Redlock revealed that 7% of businesses believe that they have useful overall mission-critical company information.
Cloud Adoption Statistics
9. 80% of companies say operation improvements within the first few months of adopting the tech.
Multisoft
With this stat, it’s clear that the positive impact of cloud technology is almost instantaneous. A report from Multisoft claimed that 80% of companies report operation improvements within the first few months of adopting the tech. This research from Multisoft was conducted predominantly within startups, proving that cloud computing is not just for the big boys.
10. Medium-sized businesses find it 40% more cost-effective to employ third-party cloud platforms than maintain an in-house system.
Multisoft
A significant reason for the hypergrowth of the public cloud is its affordability. That’s why small and medium businesses find it 40% more cost-effective to employ third-party cloud platforms than maintain an in-house system, according to Multisoft. Companies are looking to save as much as possible while taking great care to keep operations safe and secure. With cloud systems, companies can afford the such infrastructure and supporting staff.
11. 94% of businesses say significant online security improvements after moving their data to the cloud.
Salesforce
It’s no secret that cloud technology is very reliable when it comes to safety. According to Salesforce, 94% of businesses report significant online security improvements after moving their data to the cloud. Furthermore, a massive 91% state cloud tech proves immense help when dealing with government compliance requirements.
12. 60% of businesses intend to employ this emerging technology in the next 18 months.
Clouds 247
Research from Clouds 247 revealed that 60% of businesses intend to employ this emerging technology in the next 18 months. At the time of the study, the percentage of organizations with a cloud IT infrastructure revolved around the 45% mark.
Cloud Usage Statistics
13. 71% of enterprises look for speed improvements, 63% want greater flexibility, and 57% pick the improved customer support as reason #1.
IDG
So, what exactly is the reason why companies decide to trust the cloud? A report from IDG revealed that 71% look for speed improvements, 63% want greater flexibility, and 57% pick improved customer support as the number one reason according to IDG. Organizations with more than 1000 employees mainly look for flexibility and reduced operation costs, while smaller companies want to ensure their business continuity.
14. Email services and file storage are the predominant uses for cloud computing in the EU, with 66% and 53%, respectively.
Eurostat
The Eurostat research reveals that email services and file storage are the two leading uses for cloud computing in the EU. Email management remains steadily high at 66%, while file storage purposes have increased by a whopping 15%. Other more recent needs include hosting company databases, more specifically, virtual private server hosting.
Cloud Provider Statistics
15. AWS still dominates the market with a 33% share, while Microsoft Azure is trailing in second place at 16%.
Statista
AWS dominates the market with a 33% share, while Microsoft Azure is trailing in second place with a mere 16%, According to Statista. AWS sits comfortably at the top right now, but Google Cloud is slowly catching up. Considering that the service launched just a couple of years ago and has already amassed a 7% market share, they are doing well for themselves.
16. Dropbox continues to be the leading consumer cloud storage provider at 47% in the United States.
This one comes as a surprise as Dropbox continues to be the leading cloud storage provider with 47.3% of the consumer market in the US. Other popular cloud services include Google Drive with 26.9% and Microsoft OneDrive with a 15.3% share of the market.
17. AMR forecast shows that the global cloud services market will be raking $555 billion in revenues by 2021.
Allied Market Research
AMR forecast shows that the global cloud services market will be raking $555 billion in revenues by 2021, indicating a 17.5% overall growth rate for the cloud computing industry from the previous year. Of all the cloud services, management tools, and security services are expected to be the fastest-growing segments with a 28.4% improvement.
18. Companies are predicted to invest over 3.5 million in cloud software within 2021 alone.
IDG
In 2021 alone, enterprises are predicted to invest over 3.5 million, according to IDG. Breaking down the report from ADG, the majority of the budget will be allocated for SaaS platforms (48%), while the rest will be split between IaaS (30%) and PaaS (21%).
19. Cloud computing is the #1 most in-demand hard skill, according to LinkedIn
Cloud computing is the #1 most in-demand hard skill, according to LinkedIn. There are many opportunities in this industry. Site reliability engineers, enterprise account executives, customer success managers, solution architects, and cloud tech proficiency are an excellent foundation for future professional development.
Conclusion
The first cloud computing services were launched just a decade ago. Still, already a variety of organizations and startups are incorporating this technology into their business models for all sorts of reasons.
Want to Learn More?
- The Ultimate List Of Remote Work Statistics
- 21 Entrepreneur Facts and Statistics You Should Know
- The Ultimate List of Internet of Things Statistics
Sources:
