Over the years, cloud services have experienced significant global acceptance owing to the digital transition boosted by the global Covid 19 pandemic. With brands realizing the importance and efficiency that cloud services bring to the day to day workflow management with affordable, reliable and secure solutions; the inclination towards the cloud saw a steep rise. This also opened new avenues of investment and innovation in the sector.
The market is currently expanding rapidly, and the debut of 5G in India will revolutionise the network and communications industries by providing ultrafast transmission rates that are estimated to be at least 100 times faster than current 4G. As a result, a rising number of firms are opting to migrate their workloads and operations to the cloud. Furthermore, because Cloud technology is not limited to a single industry, a large number of technologically advanced organisations are expected to use the Cloud. According to a media report, the market will be worth $543 billion in 2021 and $864 billion by 2025, with a compound annual growth rate (CAGR) of 12.8%.
But what makes the IT industry betting as much as 50% of its investment on cloud tech? Let’s have a look what Mr Vidhu Nautiyal, Co-Founder and Chief Revenue Officer, CloudConnect has to say
1) Importance of data: Data is power and the rapid growth rates are caused by the requirement for businesses to organise, secure, and manage a growing volume of data from several sources and IT resources.
2) Infrastructure cost: By offering on-demand infrastructure and continuous operational and life-cycle control, the public cloud solution lowers capital investment. The public cloud might be a great setting for developing new apps and services, as well as for launching them on the market and rapidly scaling them. Numerous business organisations use the public cloud as their foundation. More and more telecom businesses are trying to collaborate using public cloud services to make use of their computing power and their superior network capabilities.
3) Emerging technologies: Emerging cloud computing technologies like hyperscale edge computing and secure access service edge (SASE) are upending related businesses and establishing new product categories, generating new sources of income for public cloud service providers.
The focus of differentiation is gradually shifting to capabilities that can directly disrupt digital companies and operations in enterprises, driven by the development of fundamental cloud services. The importance of public cloud services has led providers to address social and political issues including sustainability and data sovereignty. The most effective IT leaders will be those that see the cloud as an enabler rather than an outcome of their digital transformation efforts. Businesses that use cloud in conjunction with other nearby, developing technologies will do even better.
4) Affordable, Customisable & Scalable: Cloud services come in all sizes and packages. From a small business to a big enterprise, they are available to match the needs and requirements of every business model and sector. Affordability and scalability of these services further adds to the brand shifting their preferences to cloud tech.
To sum it up, the emerging technologies, low infrastructure costs and high data consumption that resulted from people staying at home during the pandemic and businesses choosing to operate remotely caused a surge in demand for telecom cloud installations, which considerably aided market expansion. And due to the development of cloud-native 5G technology, one of the major conversational topics in the telecom industry has been the cloud.