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The unstoppable growth of the Cloud market

European companies will not cut back on Cloud investment and will spend $148 billion on public Cloud services this year, despite the economic backdrop. This figure will rise to $258 billion by 2026, putting the compound annual growth rate to that date at 22%. This is the best solution for companies that need to organize and manage big data volumes from diverse sources in a safe way to prevent accidents and cyberattacks. 

In the new digital scenario, organizations look for technology that improves operations, processes, and services, to reach the greatest possible sustainability and costs efficiency. According to the IDC, nowadays more than a third of enterprises have the need to implement a data strategy that allows them to improve their applications performance, aside from increasing their privacy and data sovereignty. 

In this situation, many companies are now migrating their data from on premise structures to different Cloud options. Investment in public Cloud is still the most common one (almost 62%) as it is cost-effective, easy to use, and scalable vices and applications.  

The hybrid Cloud is also becoming more relevant because it combines the advantages of public and private Clouds (this one being the least common, with less than 10%). It provides a greater ability to move data across multiple Clouds, and it is also considered by some companies to be the best for security reasons. 

The most common services transferred to the Cloud are email and file storage, but they are not the only ones. The implementation of several types of software (like financial, accounting, or customer management), database servers, data analytics, computer applications and security are just some examples of other different uses. 

Big expansion, but not homogeneous 

Worldwide, banking and insurance sectors have a higher level of adoption of Cloud technology, while less technological ones such as construction, food, and retail, have a smaller presence but greater growth expectations.  

The biggest differences, however, can be found between big and small enterprises. Larger enterprises have adopted Cloud technology, but on smaller scale ones it is still seen as expensive and complicated. This is wrong, as they must only pay for the services, they consider necessary and usually have less resources to store and process the data for themselves. 

Cybersecurity and sustainability: the new key issues  

In this context, cybersecurity has gained importance as one of the biggest concerns for businesses nowadays. It has become the center of their digital strategies. The reasons for this growth are multiple: search for quality and mobility between Clouds, data governance or cyber resilience, among others. 

In addition, sustainability has also become one of the main priorities for 72% of organizations this year. Their main goal is to develop Cloud-native applications and shared infrastructures to increase energy efficiency and server utilization.   

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