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Top 5 growth opportunites in the cloud industry for 2021

A hybrid, multicloud brings the cloud

Enterprises used to think of the “cloud” as a place – a remote, multi- tenant data center managed by a cloud service provider. Today’s organizations understand the “cloud” as a model for creating and deploying the technology that keeps the business running

  • 43% of organizations worldwide use a multi-cloud configuration – comprising multiple public cloud services under common management – with another 41% planning to add in the next two years.
  • 42% of organizations use a hybrid cloud – comprising public cloud, private data center, and edge or co- location facilities, with another 43% planning to add in the next two years.

What’s Driving Growth?

  • Data-dependent organizations require to compute and storage resources that seamlessly integrate cloud, data center, and edge locations.
  • Increasingly complex applications, comprising microservices, third-party app integrations, and data hosted in multiple sources, call for a hybrid environment.

Recommendations & Best Practices
Cloud service and platform providers must invest in open source technologies and APIs that allow users to easily migrate and integrate applications across infrastructures.

Data continues to proliferate – as organizations collect, process, analyze, and use data assets

48% of businesses have an initiative in place to become “data-centric” and leverage data and analytics or artificial intelligence to make decisions and improve operations. Another 42% plan to start such a program within two years.

Enterprises find it difficult to move data to a secure cloud environment that allows easy access to advanced analytics. 59% of businesses said they encountered obstacles that added significant time or cost to their data migration project.

What’s Driving Growth?

  • Providers continue to bring data migration software, services, and hardware devices to market in an effort to ease the move to the cloud. Yet the sheer volume of data, the urgency of meeting compliance regulations, and the need to ensure data integrity (no lost bits) leave room in the market for new and innovative solutions.

Recommendations & Best Practices

  • The convergence of data backup and recovery, data protection, and data management platforms will address the migration challenge. Platform and service providers should take a holistic view of the enterprise data migration challenge by expanding the functionality of their solutions.

Businesses realize it is easy to implement a cloud instance, but extremely hard to implement an effective cloud strategy.

  • As the COVID-19 crisis has revealed, it is not enough to place a few workloads in a public cloud. To prepare for the post-COVID-19 economy, businesses need assistance in transforming their operations and organizations.
  • 64% of organizations worldwide have engaged third-party managed or professional services providers to assist with their cloud journeys, with another 27% considering it.
  • 39% of respondents said that top services include implementing backup and recovery procedures, followed by managing organizational and cultural changes (37%); and developing a cloud strategy and roadmap (36%).

What’s Driving Growth?

  • Businesses continue to struggle to implement an effective cloud strategy.
  • 64% of businesses say they struggle to keep up with the pace of new technology introductions.
  • 57% say they have insufficient cloud
    expertise in their organizations.
  • 62% say they struggle to gain or retain support from business leaders and stakeholders.

Recommendations & Best Practices
Ecosystem participants – particularly managed services providers – must mask the complexity from enterprises, enabling them to focus on their applications and business operations, rather than workload integrations

At a time when telecom and IT service providers are rushing to divest their data center facilities, it may seem like the venerable co- location market has dried up – a casualty of the cloud. In fact, data center and interconnection facilities are in great demand from the cloud, service providers, and enterprises looking to extend their presence to the “edge.”

  • Both retail and wholesale co- location continue to grow. 47% of organizations use co-location services today, with another 37% planning to add in the next two years.

What’s Driving Growth?

  • The rise of edge computing – moving workloads closer to where data is collected and/or used, to minimize latency-induced performance issues – is driving the need for decentralized compute and storage resources. Co- location meets that need for enterprises and service providers.
  • Hybrid clouds that seamlessly connect private resources with public clouds can be hubbed into a co-location facility with direct cloud connections.

Recommendations & Best Practices
Investors and large, global REITs should continue to buy and build local data center facilities to expand their geographical presence

In the hypercompetitive digital era, a little paranoia may be a good thing. Easy access to next-gen technology and free software development tools mean that competitors (traditional or non- traditional) can disrupt your industry in an instant.

  • According to our survey, 67% of businesses worldwide assess their digital transformation efforts ahead of others in their industry.
  • At the same time, only 16% of businesses meet the highest standards in Frost & Sullivan’s Cloud Maturity Model, which assesses factors such as hybrid and multicloud adoption; flexible networking; data-centricity; and modern app development.

What’s Driving Growth?

  • The COVID-19 pandemic highlighted the rift between digitally advanced firms and those that were behind in their journeys. Despite having some cloud workloads, many companies were ill-prepared for months of shutdowns, support for remote work, and the challenge of making data secure, available, and compliant outside the company data center.

Recommendations & Best Practices
Technology services providers must help firms understand not only the benefits of adopting a comprehensive hybrid cloud strategy but also the risks of not taking any action. Frost & Sullivan

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