Whether you’re aware of it or not, the cloud plays a vital role in your day-to-day digital endeavors. Available on-demand and at a distance, the cloud powers today’s most exciting technological innovations. This tech solution has come a long way in the past several years, but its evolution is only just beginning.

Below, we’ve highlighted several of the most relevant statistics that reveal the importance of cloud computing.

1. Cloud Presence Exists for 90 Percent of Today’s Companies

If your company has yet to utilize cloud technology, you are well behind the curve. A report from 451 Research reveals that a whopping 90 percent of businesses already complete numerous functions via the cloud. According to this report, 60 percent of workloads run on hosted cloud services.

2. By 2021, Cloud Data Centers Will Process 94 Percent of All Workloads

As prominent as workloads already are on the cloud, this approach is expected to grow even more popular in the near future. In fact, projections from the Cisco Annual Internet Report suggest that cloud data centers will process nearly all workloads by 2021.

3. The Global Cloud Computing Market Will Exceed $623 Billion by 2023

Experts at Report Linker anticipate that, despite holding an already impressive market size of $272 billion in 2018, global cloud computing will continue to grow. A compound annual growth rate of 18 percent will allow the market to reach $623.3 billion in 2023.

4. Public Cloud Spend Is Growing at Three Times the Rate of the Private Cloud

Currently, most businesses prefer to maintain the majority of workloads on the private cloud, dedicating a smaller portion to public options. This trend could soon reverse, however, as spending for the public cloud is growing at a staggering rate. Hybrid approaches are not as common but still see healthy interest with an adoption rate of 58 percent.

5. Saas Serves as a Delivery Model for 89 Percent of Businesses

While today’s companies rely on many types of cloud computing services, Software as a Service (SaaS) is by far the most popular. A cloud computing survey from IDG reveals that 89 percent of businesses use SaaS at least to some extent. However, other cloud services are nearly as prominent. Currently, four out of five companies use Infrastructure as a Service (IaaS), while six out of ten use Platform as a Service (PaaS).

6. Cloud Budget Spend Is 14 Percent for Online Productivity Tools

According to the Spiceworks 2020 State of IT report, businesses that use the cloud are increasingly investing in online productivity solutions. Between 2019 and 2020, budgets for on-premise productivity offerings remained flat, while spending for online alternatives rose significantly.

7. Cloud Security Remains a Top Concern for Over Two-Thirds of Businesses

Security breaches constantly make headlines, so it should come as no surprise that this represents one of the greatest fears standing in the way of adoption. Data from IDC suggests that 61 percent of end-users prioritize data security when selecting cloud business applications.

Top threats include malware infections and distributed denial-of-service (DDoS) attacks. Unfortunately, these problems can lead to major losses for businesses, both in terms of productivity and reputation.

8. Over Half of Companies Use Techniques Such as Multi-Factor Authentication to Improve Cloud Security

While many business leaders fear breaches, they also acknowledge the need for stringent security measures to bypass top risks. This is reflected in research from Gemalto, which found that 53 percent of companies are working to enhance their cloud computing security. Simple efforts, such as strong passwords or multi-factor authentication, can prove especially effective – and such steps are surprisingly easy to implement.

9. Nearly All Future Cloud Security Failures Will Be Caused by Customers

According to Gartner, customers will be to blame for 95 percent of security problems in 2022. That being said, human error isn’t inevitable, and automation could make all the difference. Hence, the need for built-in security functions, which take the potential for customer mistakes into account.

10. Companies Dedicate One-Third of Their IT Budgets to the Cloud

The cloud represents a growing expenditure for modern business IT budgets. However, many IT experts believe that cloud spending is capable of delivering an impressive return on investment. Therefore, many companies are willing to allocate significant portions of their budget towards cloud essentials like email hosting and data backups.

Ready to Start Using the Cloud? NerdsToGo Can Help

If the statistics outlined above are any indication, the cloud is quickly taking over the business world. It already represents a vast area of investment for organizations of all sizes and types. Projections suggest further growth in the next few years, with cloud solutions becoming not only more common but also more sophisticated and secure. Based on this data, the future is bright for cloud technology.

Are you ready to make the most of the cloud? The team at NerdsToGo can set you up for success. We’re happy to help you implement today’s most cutting-edge tools and technologies in the interest of making your business as productive and secure as possible. Plus, we offer a variety of remote and in-person IT services for your convenience. Contact us today to learn more about our tech solutions!