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Cloud Computing Startups Are Fundamentally Changing Business Operations

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CIOInsider Team

The Cloud has arrived, and it is fundamentally changing the manner in which companies are operating. During the initial years of Cloud’s introduction - it was believed that it is just another technological fad that is eventually going to fade away in due course of time. Today, thousands of companies are switching over to Cloud computing and are utilizing Cloud based software, platforms and infrastructure to streamline their processes, reduce operation costs and other complexities.

Companies dealing with vast pool of data also need to keep its data safe and secured. For this case, Cloud Computing offers a viable solution to the companies. Businesses are switching over to the Cloud to utilize its full range of Cloud Solutions be it Infrastructure as a service (IaaS), Platform as a service (PaaS) or Software as a service (SaaS).

The mechanisms of Cloud computing are simple – a third party vendor manages and owns IT resources of a business enterprise and then it is leased among its subscribers. According to the 2016 Right Scale State of the Cloud Report, Amazon Web Services (AWS), Google Cloud Services, Microsoft Azure and IBM Softlayer are the leading public Cloud Service providers in the world with more than a decade of experience in the Cloud Computing domain. Founded way back in 2006 AWS is by far the leader among the Cloud Service providers, globally.

The global Cloud Computing market size is expected to grow from 272 billion USD in 2018 to 623.3 billion USD by 2023 at a CAGR rate of 18 percent, according to a study published by ReportLinker. To put it into perspective, Cloud computing market is growing seven times faster than the overall spending growth of the IT sector put together. By the end of 2025, more than 80 percent organizations will be migrating towards Cloud computing services to run their business operations. Moreover, there has been a recent surge in the establishment of many Cloud computing service providers. Cloud start-ups like DocuSign, Dropbox and Elastic have only added to Cloud compting’s booming trend. As businesses are spread across multiple offices throughout the world, corporate communication tools become a very important aspect of their operations. To curb business communication issues a start-up named Slack was founded in 2009. Since, then it has grown immensely and now it is being used by more than 500, 000 companies.

Cloud enables small and medium scale enterprises to compete with large, well established companies by giving them access to expertise in data handling and resource management. Cloud computing as a technology is also evolving with each passing year as new startups are coming up with innovations and unique solutions. Since, Cloud computing technology has matured a lot since its humble beginnings; many companies have started to become comfortable moving data over to the clouds.

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Cloud And Startups On The Balance