30 Sep 2022| Artificial Intelligence
Cloud Based Technology & Micro Services
Cloud Computing: Know The Growth Prospects
Cloud computing is an advanced technology that allows application access remotely. Accordingly, businesses ranging from small-scale to large enterprises derive the best advantage.
Looking further, cloud computing has advanced to support Artificial Intelligence, augmented analytics, the Internet of Things, virtual reality, and quantum computing to act as efficient support to the digital revolution taking place over the past decade.
We have experienced how the attack of the Coronavirus has necessitated organizations to choose to work from home. The results have proved successful in supporting employees through the advanced cloud technologies to surpass the barriers of the location in order to be productive.
Undoubtedly, the shopping experience also turned refined. People have been at home; however, their activities lay uninterrupted with the boon of cloud technology. Of course, the entertainment industry was well prepared to offer programs on the cloud. We have been kept engaged through some effective online entertainment programs.
The cloud has been excelling in supporting people both personally and professionally. However, during the lockdown, the cloud data centers have encountered certain challenges. Statistics have revealed that there was about a 50% surge in certain parts of the world concerning its usage in online education, e-commerce websites, video conferencing, etc.
ICT infrastructure market, have you heard of this? It talks about the IT infrastructure used in businesses. It is expected that by 2025, cloud computing technology will guide the market, and edge computing will see significant advancement.
Germany will be the leading country for cloud as well as edge computing, and the US will top the market globally. All those activities that cannot be accomplished under the cloud can be performed by Edge computing.
Every business expects seamless services and is not prepared to go with interrupted services.
Distributed cloud and edge architectures come to aid such interruptions. The advantages derived from it include enhanced data processing speed, minimizing time lag, enabling technologies to find great advancements in IoT and robotics.
The major industrial sectors such as retail, manufacturing, healthcare, energy, and government are experiencing digitalization. Primarily, organizations will gain more significant advantages by implementing edge computing into their functionality. For instance, the energy sector, which is the crucial force behind industrial advancement, can serve the economy more beneficially by incorporating edge computing and IoT solutions into its workflow.
Edge computing rose as the new technology to support those who have experienced the limitations of traditional cloud computing networks and are willing to overcome them.
Currently, 91% of our data is created and processed in centralized data centers.
In the current situation though cloud computing helps businesses attain cost optimization, agile and resilient systems, the future is powered by the “Internet of Behaviors (IoB),” and the growth rates are found to be exceptional concerning product and service development, refined user experience and performance excellence.
The scalable and agile environment gains the best advantage of cloud technologies. The Software as a Service (SaaS) market is expected to experience a growth rate globally. Primarily, this is expected to double in the USA, UK, and other European countries and is to grow four times In India and China by 2025.
Furthermore, the edge markets, including the private and public hosted cloud, are expected to undergo a magnificent growth rate in the USA.
Many innovative business models, advanced products, and services are the direct results of cloud transformation and the rapid advancement of IT infrastructure. In the long term, we will find that the influence spreads across the complete economy.
According to the IDC forecast, the edge computing market is expected to attain $250 billion by 2024, and the annual growth rate is forecasted to be around 12.5%.
Edge computing is the current need of time to improve efficiency, enhance performance, and attain data safety. Significantly, the core business dealings are being well facilitated. Undoubtedly, edge computing holds the key to achieving digital transformation to conduct business operations more efficiently.
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Tags: Technology Artificial Intelligence