There are many benefits associated with using emerging cloud technologies within various areas of your business model. Increases in public cloud growth, due to advantages with software as a service and AI in cloud computing, have made it even more beneficial to companies across nearly all sectors. In spite of economic concerns on a global scale, industry experts believe that most businesses will be likely to spend money on using the cloud for artificial intelligence (AI), as well as to improve consumer experiences.
User Spending Increases
A recent forecast on public cloud growth and spending predicted that end user spending would grow by more than 21 percent to a total of $597.3 billion in 2023, which is significantly up from just $491 billion in 2022. This is due to increased use of cloud-based computing and software as a service, as well as emerging cloud technologies. Some of those technologies include artificial intelligence or AI in cloud computing, Web3, and virtual reality or metaverse. It is estimated that more than 75 percent of all organizations will be using a digital transformation, cloud-based model by the year 2026.
Other areas that are seeing increases in consumer use and spending include platform as a service, which is expected to grow by nearly 25 percent and infrastructure as a service, which is anticipated to be the highest user-spending area, growing by more than 30 percent in 2023. Software as a service is currently the largest spending area to date, and it is still estimated to grow in the coming year by nearly 18 percent. Embedded AI capabilities, cloud-native options, and increased productivity demands are all driving this industry and causing organizations to rely more heavily on cloud-based services.
The Move to Digital Operations
Many different companies across nearly every industry are faced with finding new ways to reduce overhead costs, while increasing their abilities to deliver high-quality products and services. Software as a service helps to achieve all of these goals and allows the organization to get ahead of competitors by increasing public cloud growth and spending as they need it. Rather than invest in a comprehensive network, database, and server right off the bat, these new services allow companies to grow according to their unique needs and requirements.
Companies are being encouraged to carefully increase their investments into cloud computing, both financially and in their involvement in things like AI, secure data storage, infrastructure as a service, software as a service, and other emerging cloud technologies. This can have far-reaching benefits in areas like B2C (business to consumer) and B2B (business to business) relationships, as well as helping the organization to modernize the way they do business across the board. Not only can cloud computing solutions help to lower spending in relation to data management, corporate services, and much more.
Public Cloud Growth in Boston
While cloud computing is one of the biggest trends to hit the business world in recent years, it has serious staying power. The benefits associated with emerging cloud technologies are significant, including boosting technology resources, reducing overhead costs, and replacing some areas of the IT environment to reduce staffing requirements. Synivate provides a wide range of cloud-based services, as well as support through services like monitoring and management, network security, unified communications, help desk support, and much more.
To learn more about the services we provide, make sure to contact our team directly. We can answer any questions you might have about our services and offer a free comprehensive assessment of your existing system and create custom innovative technology solutions based on your unique requirements. We work with clients throughout the Greater Boston area and serve organizations across multiple industries. If you would like to learn more, give us a call at 617-848-1248.