7 cloud market trends and how they will impact IT
With the cloud now a key staple of IT strategies, IT leaders would be wise to keep apprised of offerings and pricing tactics evolving within the cloud market. Here's the latest CIOs should know.
What are the key drivers of cloud spending growth?
The rapid advancements in artificial intelligence are significantly driving the surge in cloud spending. Organizations are increasingly building, testing, and deploying AI platforms, which positions cloud services as essential for AI development and deployment. According to IDC, worldwide spending on public cloud services is forecast to reach $805 billion in 2024, with a compound annual growth rate of 19.4% over five years.
How is the cloud market evolving with AI?
Generative AI is creating new market opportunities, prompting established cloud providers to enhance their AI capabilities while also allowing startups to build specialized GPU-based data centers. This evolution enables IT organizations to avoid vendor lock-in and explore targeted AI projects, as the demand for AI training and inferencing grows.
What challenges do organizations face with cloud costs?
Many organizations find that cloud costs are significantly higher than anticipated, often 2.5 times more. This is due to factors like overprovisioning and not optimizing legacy applications for the cloud. To manage these costs, organizations can utilize cloud cost management and optimization tools, which are experiencing rapid growth and can help identify opportunities to optimize spending.
7 cloud market trends and how they will impact IT
published by Survis Consulting, LLC
Survis Consulting, LLC is a growth-empowering IT company with eight years of industry expertise in providing advanced IT solutions. Alongside IT consulting, our prominent services include seamless migrations, cloud services, and cybersecurity. We offer unparalleled, secure, and reliable IT infrastructure, focusing on tailoring solutions to the unique goals and needs of each business. We effectively manage technological challenges, allowing businesses to concentrate on their core strengths.
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