Is cloud computing the future of all businesses?

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 Is cloud computing the future of all businesses?
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Summary

  • With the onset of an ongoing pandemic, every business is looking towards cloud technologies for survival and growth.
  • Cloud service is getting deployed fast across several markets and geographies.
  • Major cloud service providers are already managing extensive, hybrid cloud environments.
  • Demand for cloud-based services has set in across industries.

Recently technology space has witnessed the domination of cloud computing. There is tremendous demand for backing all software applications with cloud technologies. Though in the beginning, it was just the technology companies who wanted to expand into this space. With the ongoing pandemic every business is now looking towards digital evolution utilising cloud technologies for survival and growth.

With every organisation moving online, the demand for cloud services has surged. As per Gartner, by 2021, 75% of the mid and large size businesses would have adopted a multi-cloud or hybrid strategy. In addition, it is expected that by 2025, almost 70% of data created worldwide will be generated from a cloud.

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Cloud computing is optimal for storing and processing enormous quantities of data. It provides easy deployment and guarantees 100% uptime. Service providers can shift users of clouds in the event of an issue amongst clustered servers.  It ensures the all-time availability of critical applications to businesses. 

For more insights on cloud computing watch: What is Cloud Computing? | Cloud Computing Explained

Major cloud service providers are already moving along the trend and managing extensive, hybrid cloud environments. A hybrid cloud facilitates businesses with the flexibility of moving workloads between cloud solutions as per their requirements.

Usually, a Hybrid cloud infrastructure includes a public Infrastructure as a Service (IaaS) platform, a private data centre cloud, a secure network and other software programmes provided as a part of Software as a service (SaaS).

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A few stocks on ASX which are managing such hybrid clouds or providing cloud based solutions to various industries are listed below-

  • Serko Limited (ASX:SKO) - Delivers cloud-based corporate travel management solution.
  • NEXTDC Limited (ASX:NXT) - Australia’s most trusted data center provider empowering digital infrastructures.
  • Pointerra Limited (ASX:3DP) - Provides Cloud-based digital asset management platform for 3D data.
  • Rhipe Limited (ASX:RHP) - Global leader in cloud solutions, cloud software licensing expertise.
  • FirstWave Cloud Technology Limited (ASX:FCT) - Global cyber security company, delivering solutions using clouds.
  • Over The Wire Holdings Limited (ASX:OTW) - Provides telecommunications, cloud and IT solutions to business clients.
  • IXUP Limited (ASX:IXU) - Provides an encrypted data analytics cloud based platform for businesses.
  • Infomedia Limited (ASX:IFM) - Global provider cloud based solutions catering to the automotive industry.

The above is not a conclusive list; there are many others like, Megaport Ltd. (ASX:MP1), Webjet Limited (ASX:WEB), Dubber Corporation Limited (ASX:DUB), Data#3 Limited (ASX: DTL), Xero Limited (ASX: XRO), and many more.

These companies provide cloud capabilities to a wide range of industries like automobile, IT, telecommunication, etc. Thus, cloud computing is developing as an influential trend, and the work from the home model has further accelerated it. Moreover, it is being deployed fast across several markets and geographies. Ergo, including the benefits of the trend in investor portfolios is something worth considering.

Do Read: What is cloud computing? A look at major future trends

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