What technologies are playing a significant role in shaping the future of cloud computing market?

cloud computing market

Mark Twain January 26, 2024

0 233 2 minutes read

Cloud computing:

The term “cloud computing” refers to the technology that allows cloud work. For instance, in the cloud computing market, individual hardware can be divided into multiple virtual servers. Cloud technology is based on architectures that include single-tenant architecture and multi-tenant architecture. Single tenant cloud runs on a dedicated infrastructure, which means the hardware, network, and resources are dedicated to a single customer. Multi-tenant architecture is a single cloud infrastructure built to serve multiple organizations in the market. The system is covered by multiple data centers and servers, integrated into a single database.

Applications of cloud technology:

Cloud computing has a wide range of applications from storage and backup to software and delivery, the cloud has revolutionized the way of application management and data handling. Cloud applications such as Dropbox and Google Drive provide remote access to data, while cloud software such as Office 365 and Salesforce provide easy-to-use applications without the need for dense installations. Additionally, infrastructure services of cloud technology such as Amazon Web Services (AWS) and Microsoft Azure allow organizations to rent virtual servers, networking resources, and storage.

What is serverless computing?

serverless computing is a model of cloud computing that offloads entire backend infrastructure management tasks including provisioning, patching, scaling, and scheduling to the service provider. It helps developers to focus all their time and efforts on the code and business logic specific to their software applications. Serverless computing runs application code only on a per-request basis and scales supporting infrastructure up and down autonomously according to the number of requests. In this computing model, customers only pay for resources that are utilized during operation, not for the idle capacity.

Function as a service (FaaS) technically refers to serverless computing that is primarily used by developers. This type of cloud service prevents developers from viewing or altering anything beyond their code blocks. In this way, developers can focus on uploading functional blocks of code and integrating them with other procedures or code chunks. The applications of FaaS include Google Cloud Functions, AWS Lambda, and IBM Cloud Functions.

Future of cloud computing:

The outlook of cloud computing market holds great prominence, with continuous advancements and innovation, driving its evolution. The three major types of cloud deployments such as public, private, and hybrid cloud are consistently expanding to include emerging concepts such as edge computing and multi-cloud architectures. Edge computing allows improved processing power closer to data sources, enables real-time applications, and reduces latency. Multi-cloud architecture facilitates businesses to optimize performance, cost, and scalability by leveraging from different service providers.

Integration of artificial intelligence and machine learning with cloud computing will play a vital role in the future of cloud technology, enabling cloud platforms with flexible and accessible AI and ML functionalities. With technological innovations, cloud computing will remain at the forefront, driving digital transformation and industrial revolution.

Market Segmentation:

Service model

Infrastructure as a Service (IaaS)
- Primary storage
- Disaster Recovery & Backup
- Archiving
- Compute
Platform as a Service (PaaS)
- Application Development & platforms
- Application Testing & Quality
- Analytics & Reporting
- Data Management
Software as a Service (SaaS)
- Customer Relationship Management
- Enterprise Resource Management
- Human Capital Management
- Content Management
- Collaboration & Productivity Suites
- Supply Chain Management
- Other SaaS service models