30+ of 2024’s Latest Cloud Computing Trends that may Surprise You

Cloud computing is a market that’s consistently increasing. For this reason, there are many trends available for us to talk about.

The growth in last year’s cloud market was astonishing, and it’s only set to grow even more through 2024 and beyond. It’s for this reason that so many businesses are relying on cloud computing.

Whether you’re looking for VPS cloud hosting, application software, virtual networks or databases, there are plenty of cloud services to grab by the horns and take advantage of.

If speed and security are important factors in your company, cloud computing is definitely the way forward, and I highly recommend you looking further into this world.

General Cloud Computing Statistics

• By 2025, the cloud computing market is expected to exceed £515 billion
• 80% of organisations are expected to use cloud services by 2025
• The main reason people turn to cloud computing is due to being able to access data from everywhere
• By 2021, cloud data centers processed 94% of workloads (Cisco)
• In 2018, cloud infrastructure spending surpassed £63 billion (Canalys)

Cloud Type Statistics

• The average business runs 38% of workloads in public and 41% in private cloud (RightScale)
• In small to medium-sized businesses, 43% use public cloud (RightScale)
• In 2019, the revenue from the global public cloud computing market was set to reach £200 billion (Statista)
• 89% of companies use SaaS (IDG)
• By 2021, 75% of all cloud workloads used SaaS (Cisco)
• IaaS is the fastest-growing cloud spending service with a five-year CAGR of 33.7% (IDC)

Cloud Computing Adoption Statistics

• 42% of companies say “providing access to data anytime, anywhere” is the main reason for cloud adoption (Sysgroup)
• 38% of companies choose cloud computing due to disaster recovery (Sysgroup)
• 37% of businesses would prefer to use cloud computing due to flexibility (Sysgroup)
• The hybrid cloud adoption rate is 58% (RightScale)
• 12.2% of global cloud spending is on professional services (IDC)
• Banking accounts for 10.6% of global cloud spending (IDC)
• Process manufacturing and retail were expected to be in the top five spenders of cloud spending in 2022 (IDC)

Cloud Security Statistics

• Almost 2/3 of companies believe security is their biggest challenge in cloud adoption (Logicmonitor)
• 60% of enterprises worry about privacy and regulatory issues (Logicmonitor)
• By 2020, public cloud IaaS workloads experienced 60% fewer security incidents than traditional data centers (Gartner)
• In 2022, at least 95% of security failures in the cloud were caused by customers (Gartner)

Cloud Spending Statistics

• In 2018, companies’ average yearly cloud budget was £1.7 million (IDG)
• Between 2016 and 2018 there was a 36% increase in cloud budget (IDG)
• In terms of revenue, online backup/recovery is the leading cloud service (15%) followed closely by email hosting (11%) (IDG)
• Smaller companies dedicate only around 20% of their IT budget towards the cloud (Spiceworks)
• In 2019, companies planned to spend 24% more on public cloud than they did in 2018 (RightScale)

Cloud Service Provider Statistics

• In 2018, Amazon, Microsoft and Google accounted for 57% of the global cloud computing market (Canalys)
• AWS attracts 52% of early-stage cloud users (RightScale)
• 41% of beginners choose Azure (RightScale)
• Only 9% of beginners choose Google Cloud (RightScale)
• AWS earned more than £6 million in the first quarter of 2019 (Canalys)
• Google’s cloud service revenue was £1.8 billion (Canalys)