Cloud has been the primary vault for years now. From enterprises to individuals, all are reliant on cloud services for their data management. According to data, almost 94% of all enterprises use cloud services and 48% of businesses store their most important data only on the cloud. The COVID-19 pandemic has immensely increased the reliance on and the use of cloud services as the work from home culture has become thoroughly established in our lives.
Well, in 2022 some new trends have been coming up in the cloud market that you must know about. Here is a list of some of the cloud statistics for the year 2022 that you should know about:
GLOBAL CLOUD GROWTH
The pandemic has accelerated cloud adoption and has exponentially spurred its market growth.
According to a report by Markets and Markets, the global cloud market has been growing at a Compound Annual Growth Rate (CAGR) of 16.3% during 2021. It is expected to grow from US$ 445.3 billion in 2021 to US$ 947.3 billion by 2026.
INDIAN CLOUD GROWTH
According to NASSCOM, India’s cloud market is estimated to reach US$ 5.6 billion by 2022, at a 26% year-on-year growth. Also, with a 24% CAGR, India’s cloud talent pool is expected to grow 2.4X to nearly 1.5 million by 2025. However, the report suggests that there is an urgent need to scale talent further — talent with the right skillsets — that will help meet this demand. Nevertheless, India would have an estimated 1.4-1.5 million cloud professionals by 2025, said the report.
THE PANDEMIC INDUCED GROWTH IN INDIA
As per a survey by EY India, while 67% of the large enterprises accelerated cloud adoption, 39% of the medium-sized companies and 38% of the small companies embarked on their cloud journey. However, 92% of small enterprises and 80% of medium enterprises faced gaps in how they managed security-related risks. To address the acute shortage of digital talent, organizations focused on new talent acquisition efforts (73%) as well as embarked on automation initiatives (66%) to augment the skill gap.
A MAJORITY OF COMPANY’S IT ENVIRONMENTS ARE ON THE CLOUD TODAY
The percentage of businesses with a cloud IT environment is on a record surge.
According to research by IDG, around 92% of an organization’s IT environment is generally on the cloud at least “somewhat” today. Currently, only 8% of consumers say that their entire IT environment is on-premises. Besides, IDG also found that 46% of the company’s cloud-based applications were purpose-built for the cloud.
INDIA’S EXPENDITURE ON PUBLIC CLOUD SERVICES
Analysts reveal that a majority of companies plan to increase their IT spending, which includes spending on the public cloud. According to Gartner, end-user spending on public cloud services in India is forecast to total US$ 7.3 billion in 2022, an increase of 29.6% from 2021.
The report also suggests that Indian end-user spending on the public cloud next year will be slower than the 34.6% growth that was forecast in 2021. Indian CIOs are expected to focus their cloud investment on cloud system infrastructure services (IaaS). This segment is forecast to total US$ 2.4 billion in 2022, up 40% from 2021. IaaS will make up 32.3% of the total investments in public cloud services in 2022.
THE MAJOR PLAYERS IN THE CLOUD MARKET
According to a report by Markets and Markets, despite the presence of a large number of vendors, the market is dominated mainly by vendors such as Microsoft (US), AWS (US), Salesforce (US), Oracle (US), SAP (Germany), Google (US), Workday (US), Adobe (US), and IBM (US).
AWS ACCOUNTS FOR 33% OF THE MARKET SHARE
When it comes to market domination in cloud computing, Amazon Web Services (AWS) remains at the top with a 33% share, followed by Microsoft Azure with 16% and Google Cloud with 7% of the market share.
SMES ARE ADOPTING CLOUD SERVICES FASTER THAN EVER
At present, Small and Medium Enterprise companies (SMEs) register as the fastest-growing segment for the cloud adoption market from 2021 to 2028, according to Grandview Research. The report also shows that the IaaS segment is expected to deliver the highest CAGR.
THE RETAIL, MEDIA AND FINANCE SECTORS USE THE CLOUD MOST
According to a report by O’Reilly, an American online learning platform, retail and e-commerce, media and entertainment, and finance and branding are some of the top industries for cloud adoption, followed by the software companies. Cloud usage was almost everywhere in retail at 96.9%. Also, countless companies across multiple industries have increased their focus on cloud technology in recent years. Besides, there has also been a considerable rise in cloud adoption among telecommunications, higher education, and healthcare brands.
AFFORDABILITY IS STILL A MAJOR CHALLENGE
O’Reilly’s 2021 study of cloud adoption also shows that around 48% of enterprises plan on moving around 50% of their applications onto the cloud by the end of 2022.
While 20% of them were planning to move all their applications to the cloud. Among the respondents using the cloud, the biggest concern was about managing the cost of it (30%). Also, the cost of the solution is a top consideration for 17% of the traditional SMBs, putting it on the same tier as security when it comes to them, according to a report by Digital Ocean.
MAJOR CONSIDERATIONS WHILE CHOOSING CLOUD
When it comes to why businesses are choosing cloud transformation, there are several factors to consider. Out of them, the security and features of the solution are the two critical factors to consider when selecting a cloud service.
Cloud infrastructure security is the most important consideration for all business types, with 25% of the enterprises, 21% of the tech-focused SMBs, and 20% of the traditional SMBs citing it as their most important consideration when selecting a cloud infrastructure solution.
COVID-19 HAS DRIVEN CLOUD GROWTH EXPONENTIALLY
According to a study by Flexera, around 90% of the companies said that their usage of the cloud has become higher than initially planned due to the pandemic. The study shows that around 34% of SMBs particularly have used more cloud technology than they had initially planned during this period. Around 29% of the enterprise companies also said the same.
CLOUD SUSTAINABILITY IS MORE IMPORTANT
In a survey done by Gartner Inc., around half of the participants thought that sustainability would have an impact on their businesses. Cloud providers are now responding to this by instituting more aggressive goals for carbon neutrality. Gartner also anticipates that new sustainable provisions will be incorporated over the next few years, depicting the choices among the cloud providers based on who provides cleaner cloud services.
ENTERPRISES ARE PLANNING TO DEPLOY SASE BY NEXT YEAR
According to the Aryaka sixth annual state of WAN report for 2022, around 25% of enterprises envision that their cloud and technology budgets will increase in the next year. Around 64% of companies said that they are planning to deploy the Secure Access Service Edge (SASE) in the next year. Around two-thirds of them would be an option or managed SASE.
GOOGLE DRIVE IS THE MOST USED CLOUD STORAGE SERVICE
According to Cloudwards, Google Drive is the most used cloud storage service with a market share of around 94.44% globally. It is followed by Dropbox, the best cloud storage service for collaborations, with a yet remarkable 66.2% share. OneDrive with a 39.35% share and iCloud with a 38.89% share, come next. Meanwhile, MEGA with 5.09%, Box with 4.17%, and pCloud with a 1.39% share are amongst the other cloud storage services that are being used globally.
