At a time when Microsoft has been building a new desktop-as-a-service offering that is built on the top of Windows Virtual desktop, seems that the IT space has been adopting to cloud quite frequently. What are industry leaders saying?
According to the Cloud Services Market by Service Type, Cloud Type, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry Forecast 2020-2027, the global cloud services market which was being valued at $264.8 billion in 2019, is projected to reach $927.51 billion by 2027. This would be growing by at a CAGR of 16.4% from 2020 to 2027.
Experts are of the view that the global cloud services market is still at an evolving stage and that it has good growth potential due to several factors. The most prominent one among them being the fact that it provides potential cost benefits when it’s being compared to conventional physical storage. This is because it’s estimated that cloud services would be saving around 35% of the annual operations cost.
Some also hold the opinion that the increase in the number of small and medium-sized enterprises has also been pushing the market growth as most enterprises continuously seek cost benefits that can be efficiently provided through cloud services.
Sashishekhar Panda, Head of Products & Services – Yotta Infrastructure, believes,
“The COVID-19 crisis has put cloud adoption on the fast track. Collaboration, cloud-based virtual desktops, IT Infrastructure, security are some of the top reasons for enterprises to embrace cloud rapidly. While there are various models of cloud, enterprises can leverage a hybrid cloud model that offers flexibility and security. Hybrid cloud offers a secured flow of data between private and public cloud and is a cost-efficient way to cloud computing.
Enterprises can utilise the private cloud for their critical workload and at the same time can use the public cloud to host and access applications. Enterprises are moving away from their captive infrastructure towards the pay-as-you-use model which is offered in the form of IaaS, SaaS, or PaaS.”
As it’s known, the cloud services market trends are segmented on the basis of infrastructure as a cloud (IaaS), platform as a service (PaaS), business process as a service (BPaaS), cloud advertisement service, cloud management, and security services. The study states that so far the IaaS segment has dominated the cloud services market. Additionally, the SaaS segment is also expected to exhibit significant growth during the same period.
Sonal Vaid, Cloud Practice Lead, Amsterdam, Synechron says, “We are now moving towards a new working model where cloud will sit at the center of all business operations. With a distributed workforce, enterprises are compelled to, ensure data is secured from all aspects i.e. user, access, data movement, storage, etc.
According to IDC, 64% of Indian firms are expected to adopt cloud computing amid the pandemic to cater to the increased need for remote working capabilities. Security and scalability are important for this transition, and cloud computing makes it possible to build a virtual storage space that is reliable and is available 24×7. If we look at bank branches or offices where sensitive data is processed it mostly requires security built within the infrastructure. In the current state of offerings from different CSPs, GCP based VDI can provide with this set up.
However, every organisation needs different IT infrastructure support, and the security of data is organisation’s responsibility.
Data states that the BFSI sector has generated the highest revenue last year in 2019. But, the healthcare segment is also expected to exhibit significant growth in the near future. Furthermore, the Asia-Pacific region is expected to witness significant growth in terms of CAGR in the upcoming years and the near future.