The cloud computing industry has seen tremendous growth over the past decade. According to recent reports, the global cloud computing market is expected to reach $1.3 trillion by 2028, reflecting an annual growth rate of 19.1%.
Amazon Web Services (AWS) continues to lead the market with approximately 32% market share, followed by Microsoft Azure at 22% and Google Cloud Platform at 11%. These “Big Three” providers collectively control nearly two-thirds of the global infrastructure-as-a-service market.
The COVID-19 pandemic has accelerated cloud adoption across industries. Organizations that previously hesitated to migrate to the cloud were forced to reconsider as remote work became the norm. A survey conducted by Gartner found that 70% of organizations using cloud services today plan to increase their cloud spending in the coming years.
Security concerns remain the primary barrier to cloud adoption, with 66% of IT professionals citing it as their top challenge. However, advancements in cloud security technologies and compliance frameworks are helping organizations address these concerns.
Small and medium businesses are increasingly turning to cloud solutions to level the playing field against larger competitors. The pay-as-you-go model eliminates the need for significant upfront investments in IT infrastructure, making enterprise-grade technology accessible to businesses of all sizes.
