Although cloud computing has been around for more than 20 years now, and there are several advantages it offers, like cost-effectiveness, enhancing business efficiencies, and competitive advantage, you will come across many such companies that operate without it.
As per a study conducted by the International Data Group, at least 69% of the business entities have already implemented the technology, and 18% say they intend to do so. Dell states that those companies that have already invested in remote control cloud or free cloud desktop are already enjoying a 53% greater revenue growth.
Before we proceed further to understand the benefits of cloud computing, let us find out what is cloud computing?
What is cloud computing?
Cloud computing is when on-demand computer services are delivered right from processing power, storage, and applications, over the internet. The payment mode is generally a “pay-as-you-go” model.
Benefits of cloud computing
The benefits of cloud computing will usually depend on the type of service you are using. Using cloud services implies not having to invest in maintenance or buying your computer infrastructure.
As a business entity, if you are using cloud computing services, it means in comparison to a company that does not use this service, you enjoy an edge over your competitors in moving faster with your projects and ventures without the need to shell out cash on lengthy processes of procurement and upfront expenses.
Migrating to cloud computing or remote cloud computing removes the burden on the internal IT staff in case of services like email and CRM. It also helps eliminate expenses on capital expenditure or CAPEX and operational expenditure or OPEX.
In a nutshell, the benefits of cloud computing can be listed as-
- Flexibility
- Security
- Cost savings
- Mobility
- Insight
- Quality control
- Improved and enhanced collaboration
- Sustainability
- Competitive edge
- Loss prevention
- Automatic software updates
- Disaster recovery
Importance of cloud computing software
Cloud computing gained immense importance during 2020-2021 during the pandemic when every other business was striving for digital transformation. By 2021, the IDC tech analyst anticipates that spending on cloud infrastructure will grow 8.3% compared to $71.8 billion in 2020, and non-cloud infrastructure is expected to grow just by 1.9% to $58.4 billion.
The analysts expect in the long-term that spending on computing and storage infrastructure might see a compound growth annually at the rate of 12.4% from 2020 to 2025, reaching a mark of $118.8 billion in the year 2025, and this will constitute 67% of the total spending on computing and storage infrastructure. In contrast, spending on the non-cloud infrastructure will be approximately flat and will attain the $58.6 billion mark in 2025.
