Even though the pandemic has ravaged the global economy, the cloud computing sector is thriving.
International Data Group (IDG) reported companies will spend 32% of IT budgets on cloud computing, based on their survey and estimation.
The average cloud spending for an enterprise will surge 59% in 2020, to USD 73.80 million, from 2018 levels.
Having been inserted in business strategy, 92% of firms are working out how to apply cloud tech across their IT environment, including network architecture applications and data analysis. The figure will rise up to 95% in the next 18 months.
29% of organizations are adopting the cloud-first model. 54% of companies are mostly focusing on on-premises environment. Only 9% are cloud-dominated businesses.
Due to concerns on security and privacy, finance, government, non-profit organization and manufacturers prefer to use only one public cloud platform.
So far, 81% of survey respondents deploy applications or computing infrastructure in the cloud.
China's ‘New infrastructure’ accelerates the data center building and cloud adoption. More recently, the government implemented new REITs regulations to stimulate investment in infrastructures like data centers. This all heralds the speeding up of the development of data centers and cloud business in China.