Cloud- the next tech imperative

Cloud computing has proven to be an enabler in times of disruption and has underpinned value creation over the last decade. The potential of cloud and the advanced technologies it can enable, will drive new value-creating opportunities that the business world has yet to realise. At the same time Internet of Things (IoT) The internet of things is also one of the most important technologies and is gradually growing. With the help of the internet of things, the devices which are near to you will learn what they need to know.

Tech pundits feel that we have taken vaccination during the pandemic to save from the life threatening COVID-19, like that, the pandemic has provided a poignant reminder of the power of cloud technology.

When COVID-19 hit suddenly and unexpectedly, systems resilience, agility, adaptability, and scalability were the fundamental capabilities needed by governments, businesses, and other organizations to navigate the crisis.

Certain segments needed to scale immediately to meet explosions in demand, like telemedicine, videoconferencing, and eCommerce, while others struggled to right-size their businesses faced with near-overnight elimination of demand, like live events & entertainment, travel, and ridesharing. As the pandemic is getting over, a new technology is getting ready to replace much hyped cloud since the adoption of cloud is an expensive affair.

The advancement in technology and the evolving global economy saw enterprises looking to improve their business efficiency, elasticity, and innovation.

During these 30 months of journey, we have witnessed the growth of all cloud platforms such as AWS, Azure, Google, Zoom and others are continuing to invest aggressively in capacity and innovation as they jockey for market share and work to accelerate their clients’ digital transformations. While most cloud platforms will likely see revenues grow, there is a race to land large enterprise IT and data estates due to the long-term challenges and costs associated with migration.

According to an IDC report, the cloud-as-a-service market is expected to grow at a CAGR of 159.7 percent (2019-2024), reaching up to $24.6 billion by 2024. Now the cloud owned companies are suggesting the enterprises to go for deploying more multi-cloud arrangements, with this the IT budgets are increasingly going to cloud giants.

According to a recent survey from Flexera on IT budgets for 2021, money is flowing toward Microsoft Azure and its software-as-service offerings as well as Amazon Web Services. Google Cloud Platform is also garnering interest for big data and analytics workloads.

Investment in new technologies and change in business processes is often considered only when deemed necessary. Tight budgets, limited resources, and existing delivery commitment might put new technology adoption on the backburner.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA