With the market size projected to grow from $626.4 billion in 2023 to $1,266.4 billion by 2028 (at a CAGR of 15%), cloud computing takes a centre stage in today's rapidly evolving digital era. This transformative technology offers scalable, flexible, and cost-effective solutions, making it a game-changer for businesses in various industries. As we enter 2024, being aware of the current trends in cloud computing can empower business leaders and CTOs to stay ahead of the game and harness its maximum potential. This article explores the top 8 cloud computing trends that are set to dominate in 2024.
Here are the top 8 cloud computing trends in 2024:
1. AI-as-a-service
According to Forbes, AI-as-a-service tops the list - one of the most influential trends in cloud computing world for 2024. As the name implies, it offers artificially intelligent services to businesses via the cloud, eliminating the need for companies to maintain their AI infrastructure and expertise in-house.
This model allows for the exploration of AI capabilities without a significant initial investment, thus accelerating the adoption of AI technologies. Service providers, including IBM, Google, and Microsoft, offer a diverse suite of AI services, including machine learning, data analytics, and natural language processing.
2. Edge computing
With the rapid expansion of the Internet of Things (IoT), the importance of processing data closer to its source has become paramount. This is where edge computing comes into play.
Edge computing encompasses the storage, processing, and analysis of data – all performed in close proximity to the data source. This approach not only boosts efficiency but also minimises latency and enhances data security by eliminating the necessity for long-distance data transmission. As the demand for real-time data processing is increasing regularly, edge computing is set to emerge as the predominant trend in 2024.
3. Cloud security and resilience
With 60% of corporate data worldwide stored in the cloud and up to 48% of that data considered sensitive, the importance of cloud security and resilience has significantly grown.
Cloud security encompasses a comprehensive range of policies, procedures, and technologies that collaborate to safeguard cloud-based systems, data, and infrastructure. On the other hand, resilience refers to the cloud system's ability to swiftly recover from disruptions and sustain uninterrupted business operations. As cloud computing continues to grow in popularity, security and resilience will remain a critical trend in 2024.
4. Hybrid and multi-cloud
The global multi-cloud market was valued at $8.03 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 28.0% from 2023 to 2030. On the other hand, The hybrid cloud market size is estimated at $129.43 billion in 2023 and is expected to reach $348.53 billion by 2028.
These staggering statistics are clear indicators of the growing popularity of hybrid and multi-cloud environments. This is because both hybrid and multi-cloud strategies offer businesses flexibility, scalability, and cost-effectiveness by combining the benefits of public cloud services with on-premises infrastructure.
5. Sustainable cloud computing
Sustainability has become a central concern in all aspects of business, and cloud computing is no exception. Sustainable cloud computing is a trend where cloud services are designed and used in a way that minimises their environmental impact. This involves optimising energy consumption, improving resource efficiency, and adopting practices that reduce carbon emissions.
At OneAdvanced, we are increasingly opting for sustainable cloud solutions, such as using renewable energy to power data centres, and implementing energy-efficient cooling systems. With our sustainable cloud software and solutions, we help customers to use only the resources they need, which can significantly reduce unnecessary energy consumption. As we move more towards a greener future in 2024, the focus on sustainable cloud computing is set to intensify.
6. Serverless computing
One of the most dynamic trends in cloud computing for 2024 is the rise of serverless architectures. Serverless computing allows developers to write and deploy code without the hassle of managing servers or backend infrastructure. It removes the complexities associated with server management, allowing developers to focus solely on the code. Companies such as Amazon, Google, and Microsoft provide serverless platforms with their respective services like AWS Lambda, Google Cloud Functions, and Azure Functions.
7. Cloud-native development
Cloud-native development is an approach where software applications are built specifically for the cloud environment, leveraging its full capabilities and design principles. This includes using containerisation technologies like Docker and Kubernetes, microservices architecture, and DevOps practices to build highly scalable, portable, and resilient applications.
With businesses increasingly deploying their applications in the cloud, the demand for cloud-native development is set to rise in 2024.
8. Real-time cloud infrastructure
The need for fast, real-time access to information has put real-time cloud infrastructure at the forefront of cloud computing trends in 2024. Real-time cloud infrastructure enables the immediate processing and analysis of data as it is ingested, providing businesses with instantaneous insights to make informed decisions. For industries such as finance, healthcare, and manufacturing where latency can significantly impact operations, the shift towards real-time cloud infrastructure is becoming increasingly crucial.
Services like Google Cloud's Pub/Sub and AWS Kinesis provide real-time messaging and data streaming capabilities, facilitating the adoption of real-time cloud infrastructure. As businesses continue to demand more real-time data processing capabilities, the focus on real-time cloud infrastructure is set to increase.
The future is here!
Cloud computing remains a crucial aspect of our digital lives, fostering innovation and driving transformation across various industries. At Advanced, we understand the significance of staying at the forefront of the latest cloud trends, ensuring a competitive edge in this ever-evolving landscape. Our comprehensive suite of cloud-based solutions and software empowers our customers to fully harness the transformative potential of cloud technology. In doing so, we not only facilitate business growth and efficiency for our clients but also contribute to a sustainable future in the digital age.
Stay connected with us for more updates and read Top 9 AI and machine learning trends to watch in 2024 for further insights on AI and machine learning trends that are set to shape 2024.