Increase in IT Spending Globally Due to Rise of Cloud Computing – Market Journal

Cloud computing is the process of storing regularly used computer data on multiple servers that can be accessed through the Internet. It first came into the public awareness in 1996. Cloud computing services can be broken down into three categories according to user cases. They 3 are Platform as a Service (PAAS), Software as a Service (SAAS), and Infrastructure as a Service (IAAS).

Cloud computing is growing at a rapid rate and is been used by individuals and businesses of different sizes. The reason is many – form providing better storage facilities to the flexibility to data security and increasing collaboration between employees. Generally, it changes the workflow of small, medium and large businesses to make them make better decisions with decreasing costs.

The use of the cloud in business is increasing exponentially. In fact, latest report forecasts that by the year 2022, 90% of all business will be in the cloud services market will hit 90. In spite of the enormous usage of cloud, it still faces a lot of challenges. Here are some of the challenges:

  1. Security: this is a major concern working with any form of IT especially with the cloud. You are able to see the exact place where your data is stored or processed and this increases the risk.
  2. Lack of expert resources: Due to the raid increase in the number of organizations using cloud and the workloads are constantly increasing. This puts a lot of pressure on the few experts using the tools. on the
  3. Compliance: anyone using backup services or cloud storage faces the issue of compliance. Once a company moves its storage to the cloud, they have to ensure its compliance with industry regulations and laws.
  4. Cost management: the on-demand and salable nature of cloud services sometimes make it hard to determine the exact costs and quantities needed.
  5. Government control: There should be proper IT governance rules which will help to protect IT assets and make sure they are used according to agreed upon policies.
  6. Multiple clouds: Many companies like Alibaba and Amazon are moving into multi cloud storage and this brings about the challenges of managing all these clouds. 

As cloud computing services continue to expand, businesses are releasing the enormous benefit of using cloud. However, the challenges have to be addressed to the maximum benefit of the cloud.

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