A Look Back at the Cloud Computing Trends That Emerged During the Last Decade

Cloud services have been around for the better part of the past two decades now. In that time, they have become the new standard for business operations at ...
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Cloud services have been around for the better part of the past two decades now. In that time, they have become the new standard for business operations at every level. Thanks to increased security, flexibility, and scalability, cloud services are taking over the world.
Furthermore, the anticipated five-year growth that’s to come is even more impressive when viewed in the context of this decade’s innovation and accomplishments.
In this article, we take a look at how the cloud industry has evolved over the past few years and touch on where it could go in the future.
The Cloud Sector’s Rapid Growth and Innovation So Far
Google, Amazon, and Microsoft are just some of the companies that are backing cloud-based services at a massive scale. These three tech giants each launched their cloud businesses between 2000 and 2010. Since then, they have all seen and driven massive growth in the cloud computing space.
Data Center Knowledge previously reported that Google is single-handedly investing more than $5 billion into its data centres each quarter, evenly dividing the funds between existing infrastructure and new additions. Interestingly, while Google is well-known for its work in digital advertising and search, about one-fifth of the company's total revenue comes from its cloud services.
However, Google is not the dominant player in the cloud market. That honour is reserved for Amazon, so much so that Gartner estimated the company’s total market share to be over 47% in 2018. Of course, these impressive numbers are best understood in the context of consumer demand. According to Rightscale, half of all enterprises spend at least $1.2 million each year on public cloud services. Roughly 13% spend ten times more than that, investing around $12 million every year.
The Top Cloud Trends From The Past 10 Years
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Statista, meanwhile, reports that worldwide public cloud spending came in at around $77 billion in 2010. Just eight years later - in 2018 - the global cloud computing market was valued at a staggering $272 billion. Let’s look back at some of the innovations that led to this rapid expansion.
Serverless Computing
Serverless computing relies on cloud infrastructure. The concept was essentially born in 2014 when Amazon Web Services (AWS) announced Lamba at their re:Invent conference. Soon after, Google and Microsoft also launched their respective serverless computing platforms.
Development Containers
While Docker launched in 2013, it wasn’t until the release of Kubernetes in 2014 that containers saw widespread attention and adoption. They are now an industry standard for managing and migrating software code.
Kubernetes and its popularity led to the standardisation of container solutions across public cloud providers. Today, one report shares that 53% of organisations are using or researching containers for development and production.
Cloud Native Services
The development of cloud native services is definitely one of the most notable innovations of the past decade. In 2018, the CNCF (Cloud Native Computing Foundation) had a community of more than 50 end-users, including all major cloud providers alongside AT&T, Bloomberg, and other big names.
Cloud Governance
Moving data to the cloud proves more security for all parties. Rapidscale reports that 94% of businesses notice an improvement in security after switching to a cloud service provider.
Furthermore, the emergence of “cloud governance” has driven cloud service adoption across industries. Governance essentially allows companies to set rules that control the security, resource consumption, risk management, and other similar aspects of their cloud infrastructure. It is particularly important for companies that handle sensitive information and require advanced protection. TechTarget emphasizes that cloud governance helps with policy enforcement and consistent practices.
Competing As A Cloud Service Provider
With interest in cloud solutions on the rise, smaller providers stand to profit immensely from the number of startups in need of reliable services. The challenge, however, is being able to identify these lucrative opportunities, which requires providers to have reliable insights about the startup sector. Independent software vendors (ISVs) that offer unique software solutions have also become more popular of late since they can help providers reach niche markets more easily.
Data providers like Oddup address this need by providing real-time, high-quality data about the global startup ecosystem as well as a suite of proprietary metrics. This includes the Oddup Score and Benchmark Valuation, which offer exclusive insights into the health and valuation of a given startup respectively. Cloud service providers can leverage this data to expand their client bases in this rapidly growing and competitive market space.
Oddup also aids in the process of identifying emerging and disruptive ISVs for potential acquisition or partnership opportunities, allowing cloud providers to sell their services to companies that have specialised needs.
As far as overall market growth goes, Reportlinker expects rapid expansion of the public cloud space by 2023 to reach a staggering $623 billion valuation. This statistic represents an impressive CAGR (Compound Annual Growth Rate) of 18%. IDC predicted even more growth back in July 2019, expecting public cloud services to achieve a five-year CAGR of 22.3%. In developing regions like Latin America and China, the anticipated growth rate is higher still, estimated at 38.3% and 49%, respectively.
All of this means that every cloud service provider has the opportunity to compete and establish themselves so long as they use the right strategy. The key is to prepare for impending market growth and utilise the data currently available effectively.

Disclaimer: Content Produced by Oddup

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