By 2020, the global cloud infrastructure market is slated to reach $206.93 billion, according to Infoholic Research. Most of this growth with be driven by the manufacturing industry, followed by the banking and financial services industries. The manufacturing industry is expected to reach $72.84 billion by 2020 at a CAGR of 13.7% for the forecast year 2015-2020.
What is partly driving this growth is the increasing adoption of new technologies like the Internet of Things or IoT. IoT is all about connected devices that produce a huge amount of data. All these data help produce value in analytics.
According to IEEE member Maitri Vaghela, public, hybrid and mobile-based cloud computing technologies enable companies to connect traditional information systems of enterprises to IoT-enabled devices which are both public and private. This is so that enterprises can build intelligence based on the Internet of Things and respond quickly and economically.
Cloud infrastructure will therefore herald a new era of opportunity and functionality by helping organizations to do things which were not possible before. The cloud infrastructure will help smaller organizations to gain access to computing capabilities that were beyond availability and budget previously.
Cloud infrastructure services will help organizations to move focus from their local technology maintenance to business and customer-satisfaction oriented tasks. Hybrid cloud service is on its way to be imperative soon. Hybrid cloud services will deploy a unified, integrated cloud model, with internal and external cloud platforms that can be customized based on a particular organization’s requirements.
Cloud infrastructure gives the opportunity to large organizations to plan and support a broader portfolio of applications. Cloud services along with Software Defined Network (SDN) ensure cost effective service offerings, which help in reducing the organization’s network cost.
Senior analysts opine that the dynamic innovation environment in the internet of things (IoT) market provides a lot of potential to start-ups to deliver new devices and services to their customers, which, in turn, helps in the growth of the cloud infrastructure market. Most of these start-ups will use cloud services because the option is cost effective and start-ups get access to the latest technology.