The global cloud computing market size is expected to reach US$ 832.1 billion by 2025. Apart from flexibility and improved analytical capability, thanks to the cloud – we are able to connect almost everything digitally.
Technology adoption and an increase in multi-cloud strategies from enterprises are making room for more and more cloud spending. And it’s interesting to witness the digital transformation journey of leading companies like eBay, Fitbit, and GE making use of cloud computing features.
What Is Cloud Computing
Cloud computing service can be defined as the on-demand delivery of computing services, including servers, databases, storage, analytics, and software, etc. Avoiding infrastructure cost and maintenance efforts, the cloud has added the flexibility to scale up or scale down as and when businesses require.
Evolution of Cloud Computing Over the Years
It all started in the 1950s with Distributed computing that increased the computation speed along with scalability, flexibility, and high fault tolerance. Then, there were several other improvements in the form of Mainframe computing, Cluster computing, and Utility computing, etc., reaching the stage of Cloud computing.
Types of Cloud Deployment Models
Depending on the location of the computing infrastructure, there are four different cloud deployment models as follows –
- Public cloud – With all the basic features of cloud computing, the public cloud allows access to informative content with no management cost. The infrastructure is completely managed, maintained, and owned by the cloud service provider.
- Private cloud – Being located in the company’s data centers or in the service provider’s servers, private cloud computing offers data security, information privacy, and full control to customization of the delivery modes and objects.
- Community cloud – With the same or similar security policies and applications, community cloud infrastructure is shared by multiple organizations to save cost and hassle.
- Hybrid cloud – Often used for cloudbusting, hybrid cloud allows using both public and private cloud features. With this, organizations can store sensitive data on a highly secured private cloud and other less critical data on a public one.
Cloud Service Delivery Mediums
Based on the requirement, there are three types of cloud computing service delivery models that have been formalized and are available broadly in the form of –
- Infrastructure as a Service (IaaS) – With options to hire and use servers, virtual machines, networks, etc., IaaS works on a pay-as-you-use basis. Examples – web hosting, storage, backup, test servers, etc.
- Platform as a Service (PaaS) – With options to use BI platforms, database management systems, and required middleware, PaaS offers on-demand platform customization for software development and maintenance activities.
- Software as a Service (SaaS) – SaaS provides options to handle sophisticated application platforms like CRMs, LMSs, ERPS, and more. It allows maintenance, upgrading, and security update of enterprise software packages and web applications.
Benefits of Cloud Computing
Though edge computing has aided the cloud in terms of data privacy and improvement of latency bandwidth, cloud computing still brings in a great many benefits. Apart from flexibility and improved analytical capability, cloud computing benefits are not limited to the following –
- Saves overhead cost – Avoids capital investment in buying, setting up, managing, and maintaining the hardware/software infrastructure.
- Hassle-free scale-up – Options to increase or decrease storage space, computing power, and bandwidth are just a button away.
- Security cover for the entire system at one go – Easier to monitor, control, and apply security patches, create backups, and disaster recovery, etc.
- Easy technology integration – Taking common and futuristic platforms as the base, customizing and using modular software is possible.
Industries Getting Benefitted from Cloud Services
More and more industries are feeling the need for cloud solutions. As a result, there are not only generic cloud computing models, but also industry-specific customizable solutions are now available in the market. Industries that are reaping the benefits and have boosted their growth with cloud technology integration are –
- Financial Industry
- Healthcare Industry
- Manufacturing Industry
- Education Industry
- Automotive Industry
Top 10 Cloud Computing Providers in the World
There are many tier-1 companies working as cloud service providers. Currently, Microsoft Azure, Amazon Web Services, Google Cloud, Alibaba Cloud, Salesforce, and Oracle are the leading cloud service providers in the market.
- Amazon Web Services (AWS)
- Microsoft Azure
- Google Cloud
- Alibaba Cloud
- IBM Cloud
- Salesforce
- Oracle
- VMWare
- SAP
- Rackspace Cloud
According to the reports by Canalys (as of April 2021), AWS is the leading market shareholder with 32% market. Followed by AWS, Microsoft Azure has 19%, and Google Cloud has a 7% market share.
Edge Computing and the Future of Cloud Computing
In this era of innovation and technology implementation, the future of cloud computing is already here – in the form of Edge Computing. Addressing the issue of exponential increase in device numbers and data volume, edge computing has added the capability of analyzing data closer to the source before the centralized storage in the cloud. So, apart from a significant decrease in data processing time, edge computing will soon help to turn data into insights by making use of AI and machine learning.