Vision for the New World: Cloud Computing

Cloud computing will provide abundant resources and control levels in the network infrastructure to provide protection of data in the next five years

In the past decade, almost every aspect of the digital world has been linked to the cloud in one way or another and as more industries, tech giants find better ways to process data in the wake of the pandemic, uses of the cloud may astonish a lot of industry players. Cloud computing, a billion-dollar economy, has grown to a vast and complex ecosystem of advanced technologies. The cloud is ubiquitous, but invisible, which is one of its strengths. It doesn’t take up space and allows data to be shared effortlessly. The cloud ecosystem is composed of three primary types: public cloud, private cloud, and hybrid cloud. The scale of the global demand for cloud computing services is influenced by several variables, including cost-effectiveness and technical capabilities.

The huge processing power of the cloud eliminates ambiguity allowing companies to make decisions with greater confidence than ever before. All this only touches the surface of what’s possible using the cloud today. Indeed the importance of cloud computing will grow significantly during the next five years. Here’s how.

Cloud Computing Trends

According to reports, India data center market size is expected to grow at a compound annual growth rate (CAGR) of over 4% during 2019-2025 and cross USD 4.5 billion in the next five tears. The cloud market will drive the adoption of Infrastructure as a service (IaaS) at a CAGR of 20% between 2020 and 2025, while the global cloud computing market size is expected to grow from USD 371.4 billion in 2020 to USD 832.1 billion by 2025, at a CAGR of 17.5% during the forecast period.

Cloud computing and big data analysis will become the leading enterprise technology. The old-style data processing applications are challenged by big data technology in capturing, storing, analyzing, transferring, visualizing, updating and sharing large amounts of simple and complex data. The three key areas that big data has challenged in the recent years are: volume, variety, and velocity.

Data consumption by users will explode on all online platforms leading to a better understanding of behavioural data points, engagement trends, and subsequently drive better industry-consumer relationships. In the next five years, we will further see development with variations in cloud enlargement and complex data trends improving the technological landscape of IT businesses.

Modular Programming will become a significant technology. It is a type of computer software design technique that divides the functionality of a program into autonomous interchangeable segments to implement a particular aspect of the preferred functionality. Cloud computing requires complex modified software and with modular programming, it can provide better security, facilitated to the businesses.

Software programs will become more user-friendly and flexible for all types of consumers. Application of modular programming will provide the biggest advancement to IT industries in terms of cost-cutting and budgeting, as well as time-saving. In the next five years, software development will lead to applications being stored on the cloud as well as different modules and cloud servers. We will see a reduction in the cost of software by a large number as storage of modules of programs on varied storage mediums is economical.

The huge processing power of the cloud eliminates ambiguity, allowing companies to make decisions with greater confidence than ever before

Cloud computing will vastly contribute to revenue generation. It helps industries improve their overall efficiency and in fostering modernization, not just in maintaining the status quo and traditional software systems. In leading the technology market, the internet of things (IoT) is colossal, as it possesses real-time data analytics on the cloud. It is predicted to use better machine-to-machine communication, data processing with the help of cloud thereby generating more revenues for the industries.

According to a survey, 87% of industries are considering cloud as an important force in revenue growth and expected to fully function on the cloud as their decision markers for future success. Global establishments consider that their ability to effectively apply this technology will be a deciding factor for better revenue generation.

Cloud technology will improve security. As industries transfer large amounts of infrastructure and data to the cloud, they need security. Cloud computing will provide abundant resources, control levels in network infrastructure to provide protection of data in the next five years. Overall, there are three key components of cloud security.

• Data Security: Cloud computing will help to provide protocols that protect simple and complex company/ user data, sensitive transactions, dealings, information exchange. It will ensure that a third party does not have access to any company data without consent.
• Flexibility: It will provide flexibility in data storage infrastructures for the industries. The level of security during high traffic can be protected from crashing by scaling of cloud solutions. The security levels can be scaled down during less traffic to lessen the costs for the company.
• Compliance Preservation: Cloud computing technology solutions in a controlled business environment will help manage and preserve improved infrastructures for compliance to protect financial data of the company.

It will contribute in a big way to AI and Machine Learning (ML). Different models of AI and ML use large arrays of data that are applied to various algorithms. This makes use of cloud computing an imperative. The models gather patterns from large data sets and learn better accuracy, forecasting, and predict better results. For instance, ML can be used to identify the customer behaviour pattern of a single purchase, based on multiple historical purchase reports to channel the system.

In AI, text analytics, vision, and machine language will be more accessible to developers and it can be used by industries in their projects. For the evolution of AI, cloud in the future can be used to create bigger data pools, higher speed networks, universal real-time data connectivity to the web. Reports indicate that by the next five years – by 2025 – AI, ML, and cloud computing will improve the software market by USD 260 billion.

Cloud computing will change the way industries work. With Google Cloud, users experience data and digital assessment, and modern data analytics-related services. Google BigQuery, Cloud Storage as a data lake, AutoML, Cloud Natural Language API, Apigee API platform, and Looker BI platform receive the key expertise and experience. Some of the key features to optimize the supply chain include process and performance management, One Version of the Truth (OVT) with enterprise data model and analytics, pervasive AI infusion across processes, hierarchies, and configurability and scalability for global deployments.

With the help of cloud computing, industries will flourish in the future. It is an innovative technology that is dominant, expansive, and beneficial. Its cost-effectiveness, ease of function is the biggest boon of industries in terms of growth and development in the post-COVID-19 era.

It is time for the industry to keep abreast of the latest developments in this space and familiarize our industries continuously with newer technology expansions.

The article was first published in October 2020 edition of Dataquest magazine