USP of Cost Effectiveness Promotes Cloud Computing Services Market

A cloud service is any IT service offered to users on demand through the Internet from the servers of the provider of cloud computing. It saves an entity the hassle of setting up and running its own on-premise servers. Cloud computing services can be broadly segmented into infrastructure as a service (IaaS), software as a service (Saas), and platform as a service (PaaS). Those are leveraged by companies to achieve various business goals. They enable to manage data and ease processing and storage of data.

The different manner in which cloud computing services can be deployed are through a public cloud, private cloud, and hybrid cloud. Yahoo! Inc., Taleo, Vmware, Oracle, IBM, Netsuite Inc., HP, Google, Amazon.Com, Cisco Systems, and Akamai Technologies are some of the key providers of such services in the market.

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Some of the main benefits of cloud computing driving its uptake are:

  • Cost-effectiveness

The biggest benefit of cloud computing is that it does away with the capital expense of purchasing software and hardware and building on-premise datacenters. Those include racks of servers, continued supply of electricity, and trained IT personnel for running the systems.

  • Speedy Availability

Since cloud computing services are provided on demand, any amount of computing resources can be provisioned in a matter of minutes. With just a few clicks of the mouse, one can access any of the services required. Plus one also has the option to pay-as-you-go. This gives entities a great degree of flexibility.

  • Scalability

Another major benefit of cloud computing services is its scalability. It means entities can avail more or less storage, computing power, and bandwidth as per their requirement.

  • Upping of Productivity and Performance

With hassle free access to required computing services, cloud computing eliminates the need for on-site datacenters that need tremendous amount of racking and stacking. This allows the IT team to focus on more important tasks at hand. It also enables the management to spend more time on improving their core competencies.

Further, the largest cloud computing services are operated on a worldwide network of secure datacenters that are updated frequently. This helps to avoid the lowered network latency for applications typically associated with a single corporate datacenter.

  • Reliability

Cloud computing also makes disaster recovery, data backup, and business continuity easy and affordable.

Despite having literally exploded in the just a couple of years on the back of so many advantages, the market for cloud computing services is yet to achieve its full potential owing to a few drawbacks. Those pertain to the interoperability of the cloud computing systems, services lock-in issues, transitioning to cloud, and data security. Nevertheless, the market will continue making impressive strides in the next couple of years owing to organizations, particularly the small and medium ones, lapping it up because of the cost benefits it accords in the long run. Those are spread across various sectors such as BFSI, manufacturing, defense, government, and others. Asia Pacific, North America, and Europe are at the forefront of driving demand in the market.

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