Setting up your own servers requires a lot of up-front investment and ongoing maintenance. That’s why most technology companies today use an Infrastructure-as-a-Service (IaaS) provider for their compute needs.
The cloud-based service market was worth more than $270 billion in 2020. In 2022, the numbers have gone up even more. Every business now wants to migrate to the cloud, and for good reasons. Cloud-based management platforms make it easier for any business to scale. At a time when every process is digitized, not opting for a cloud management platform makes very little sense. It’s the single biggest contributing factor to the success of several small businesses.
Businesses are investing heavily in cloud technology as work models shift to remote and hybrid. In a 2021 Flexera survey, 37% of enterprises reported an annual cloud spend of over $12 million. Workers depend on cloud apps to collaborate and produce their best work, but worries remain around company data security in the cloud. A report by (ISC)² and Cybersecurity Insiders found that 96% of organizations feel moderate to extreme cloud security concerns.
It is a digital world indeed, and one in which software, in its various forms, stands as a vital component of daily life. Also known as “on-demand” software, Software as a Service (SaaS) refers to a licensing and delivery model whereby software is licensed on a subscription basis and hosted centrally. A SaaS cloud-based service is accessible through an internet browser, rather than users needing to download and install software on a PC or business network.
Cloud hosting is becoming the norm due to its efficiency, accessibility, flexibility, and scalability. Not only that, but it also optimizes IT expenses and encourages collaboration. However, with the rise of digitalization comes the surge of cyber attacks. With such threats, business leaders must be attentive to the cloud security of their businesses.
Over the last two decades, we have seen companies move to the cloud in hordes and presently, the cloud is often the default option for almost all new enterprises. Only companies in a very narrow niche are sticking to on-premise solutions. And the trend is expected to continue. In 2021 alone, the end-user spending in cloud computing was around 482 bn USD.
