April 18, 2016 4:49 pm | Updated 5 years ago.
As reported by Gartner Inc, the overall expenditure in the IT sector is declining in contrast to corporate spending on the cloud which is expected to register a huge rise in 2016. It is forecasted that public cloud services will rise by 16% to $204.2billion as compared to last year’s 13.8% growth.
This increase is because of the eagerness demonstrated by big companies to adopt the public cloud model to run their software applications, data storage, and other processes. This movement to the cloud has bolstered in the last few months as companies have started administering cloud-based infrastructure and cloud-based applications.
Netflix Inc is one of the first companies to move towards all-cloud business. Beverage giant’s like Coco-Cola have more than 20% of their computing environment on Amazon, Google Inc, and other cloud providers. Financial Institutions are also gradually adopting cloud to cut expenses and store important data. A “hybrid cloud” model is also being endorsed by many companies. Tech giants like Oracle, IBM, Microsoft is contemplating to utilize this business opportunity by facilitating this shift of business information.
Date of Publication: April 15, 2016