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Understanding The Cloud Computing Importance In 2024
In the fast-paced client landscape, cloud computing will be more accessible, agile, and competitive by the year 2024. More practical applications will be set up for Blockchain, IoT, Artificial Intelligence, and so on in the coming years. Cloud computing is currently the dominant champion when it comes to transforming companies and introducing the correct model of choice for digitalizing IT infrastructure.
Over the past several years, investments in this technology have taken a huge leap. The global public cloud infrastructure market will grow 35 percent to $120 billion in 2024 to take the centre stage in the recovery from the pandemic, according to Forrester Research. Forrester's previous forecast projected it to be $113 billion next year. Besides, according to Gartner, the percentage of global cloud IT spending will accelerate in 2024.
As such,cloud computing will dominate the market for various emerging technologies by being one of the ever-growing platforms.
Edge Computing
Forrester has predicted that calling Edge as the new cloud, new business models will emerge in 2024 to facilitate the deployment of edge, competitive efforts by cloud platforms, and AI and 5G to facilitate the expansion of edge use cases. Gartner has also predicted that, outside of traditional, centralized data centers and the cloud, 75% of data will be processed at the edge by 2025, up from less than 10% today. These statistics show that in improving industries such as manufacturing, security, healthcare, and retail, edge computing will play a huge role.
Hybrid Clouds
In the coming years, the multi-cloud culture will also continue. To gain more flexibility, companies will continue to deploy such a model. This approach decreases its reliance on a single supplier or cloud solution provider. Public cloud spending is projected to grow from $229 billion in 2019 to $500 billion by 2024, according to CloudTech, with an anticipated compound annual growth rate (CAGR) of 22.3 percent.
AI to Revolutionize IT Infrastructure
The IDC predicts that AI spending will grow to US$52.2 billion by 2024, with a total increase in CAGR of 46.2 percent from 2016-2023. AI in data centers will therefore see a sharp rise. AI will automate most of the tasks and support data centers to learn from past data and more efficiently distribute workloads through the cloud across the organization.
Serverless Computing
As per Gartner, by 2024, 20% of the organizations in the world will have gone serverless. Businesses moved to the web-based server infrastructure with the introduction of the Cloud, and now the migration to a serverless architecture has begun. Serverless computing has made the landscape of computing more dynamic and robust. With the technology still in its nascent stage, however, several transformations in serverless computing are expected to occur in the next few years.
Data Privacy
Almost 42 % of businesses believe that the lack of data privacy and security is their biggest challenge in a public multi-cloud strategy, as per the IDG Cloud Computing Survey 2024. The bigger the business, the more challenging compliance becomes across the multi-cloud public infrastructure. %Large businesses struggle with this challenge at 39 %, compared to small businesses at 23%. In the future, the biggest obstacle to companies taking full advantage of public cloud resources will be data privacy and security challenges.
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