Every company, no matter how big or small will be a tech company in the future. It is not a matter of if, but when. Businesses are taking their operations online after witnessing the advantages that cloud computing provides. The world is advancing towards technology, simplifying processes for themselves as well as for the consumers by managing their data over the cloud and by distributing their workload across multiple cloud platforms. Small and medium-sized businesses (SMEs) have been provided with an opportunity to escape from and quit the traditional methods of operation and management by automating their work with the help of cloud platforms.
According to predictions from Gartner, global spending on cloud services is expected to reach over $482 billion in 2022, up from $313 billion in 2020.
SMEs can hugely benefit from this cloud revolution; It is the necessity of the hour. It helps them in cutting back on hardware expenses, in the utilization and employment of less workforce, and in focusing on the important aspects of their business. Cloud platforms and models are being upgraded daily, enabling companies to be swift in taking action while saving time, which further enables them to focus on the other areas of their businesses. Businesses from any sector need to have a presence online and for this, they need to have a workforce that excels in handling online needs and demands. Switching online will also help in building and improving the online management and operating skills of the employees, making them more technologically adept. Improving and enhancing your workforce is extremely beneficial in the long run.
“While SaaS (software-as-a-service) continues to be the largest cloud segment for cloud consumption due to its ability to provide on-demand, out-of-the-box solutions for rapid transformation, PaaS (platform-as-a-service) is expected to grow at a faster rate. The huge migration of employees during the pandemic to remote work leverages PaaS-based cloud-native solutions,” says Nitin Sawant, EY India Cloud Leader.
Cloud computing has been on the rise ever since its inception. The recent pandemic gave cloud computing an opportunity to make businesses realize its advantages while also giving them a reason to move online. Companies resorted to cloud computing to sustain their businesses either for a specific reason or to solve a larger problem. For example, company meetings, interviews, and discussions were all switched online with companies using platforms such as Zoom and Google Meet as viable alternatives to the usual face-to-face interviews and the round table group meetings.
Trends attracting cloud adoption
The recent developments in the field of cloud computing and the rise in its popularity are attracting a lot of attention from businesses. Companies are now keen on building and creating an ecosystem that relies on the technological aspects of cloud computing while balancing it with the creativity and experience of their manpower. There are a lot of incentives when it comes to cloud computing but there are some trends at play that are creating a buzz and attracting hordes of companies.
- Hybrid Cloud: The hybrid cloud model is a mix of multiple delivery models, such as the private, public, and hybrid clouds. This model helps in eliminating the dependency on the single cloud for running specific applications while keeping the legacy infrastructure intact by eliminating the need to replace it.
- Functions-as-a-service (FaaS): FaaS, also called the serverless cloud, is a model in which the business using it has no concern in dealing with the servers that are in place and running the functions. In this model, the operator has to just insert the desired output that they want according to its commands. Some of the most popular serverless cloud platforms are Microsoft’s Azure, Amazon’s AWS, and Google’s Compute Engine. The serverless cloud works on Event-Driven Architecture (EDA). Think of it this way to better understand it. Imagine you are a user using an image-resizing page that utilizes the serverless cloud for its functions. You upload an image and click on the resize button, this creates an event, which in turn creates a function (in this case the function is the resizing of the image). The function is then performed by the servers at their end which then uploads the processed resized image to the database of the page that you can now download by clicking on the download button. In this case, all the work is done by the serverless cloud platform and the page you’re using is a mere interface for you to input your request and for the platform to grab it.
Hybrid cloud models are efficient when dealing with a lot of data and traffic. It is a cost-effective way to save on hardware and software expenses while removing the cost of its operation and maintenance. This comes as an advantage for SMEs who can save a lot of their finances and use it for other important functions.
- Integration of Machine Learning and Artificial Intelligence: Organizations deal with a lot of data that is constantly and instantly uploaded to the private cloud servers of the company. Using machine learning and artificial intelligence, these loads of data can be analyzed and sorted into a categorized form, helping the experts at the companies to better understand the shortcomings and enabling them to conjure up methods to improve upon them. It also provides ample insights and information on what other targets the company could set and work on to further amplify its sales and bring in more consumers.
- Garner and attract more consumers: The basic need to be online, when talking in terms of business, is to garner and attract more consumers. The world is online these days. People search for all types of content which with the help of AI, sites like YouTube and Instagram play well with. They tend to provide the user with certain kinds of ads that would help solve their problems and fulfill their needs. For example, have you ever noticed that when you search for apparel online, your Instagram and YouTube ads are mostly those of companies that belong to that specific sector? This happens a lot and is a clear example of how these days AI uses data from our devices to suggest specific ads to us.
- Safety and Security: Cloud computing platforms have focused a lot on improving and enhancing the data security and safety that they provide to their consumers. Breaches and data leaks have been minimized over the years, making cloud platforms a safe haven for storing company data, and helping organizations in building more reliance and trust.
- Secure Access Service Edge (SASE): It is an architecture built to provide a single sign-on feature to the client from where they can access, monitor, and manage cloud applications, cloud services, their in-house IT infrastructure, and end-user devices while maintaining high security.
- Cloud-based Data Recovery (DR): This helps in securing the user’s data from being erased or lost due to any human or machine error. Data recovery stores the user’s data on its cloud platform, saving it and then providing the data when it’s lost or deleted from the company’s private cloud. This enables the businesses to not worry about their storage or any data getting lost, providing them with peace of mind.
The year 2022 will witness a rise in cloud adoption as many companies will merge their businesses with cloud computing while focusing on the ways in which they can use the cloud-based systems for better analytics, insights, and efficiency. SMEs, especially, should delve into the cloud computing space, creating an ecosystem that works smoothly based on their needs. It will help to bring in more consumers by taking their products and services online, making them more reachable and accessible to their target audience. Artificial intelligence and machine learning will provide SMEs with analytics and insights that will further help to focus their attention on the problems that need their due attention. Cloud-based systems are enhancing their capabilities, processing power, and their elasticity and flexibility. As long as they keep doing that, they will continue to rise.