Cloud is no more a new technology today, majority of the medium and larger global businesses are already leveraging cloud technologies to the best and simplifying their business critical processes.
Cloud adoption is growing at rapid pace in the recent years and 84% of the global enterprises stated that their usage of cloud has significantly increased in the last year (Verizon Enterprise Solutions' 2016 State of the Market: Enterprise Cloud report).
According to Verizon report, 69% of enterprises stated that they have re-engineered their business critical processes with the help of cloud technologies. Organizations also stated that they experienced improved business operations that enabled them to quickly respond to the business needs and market dynamics.
It is expected that by 2018, more than half of the global enterprises will engage cloud to take up 75% of their workload (Verizon customer survey).
Industry experts say that more than half of the workloads of global enterprises will be running on cloud in next couple of years. Cloud prominence has tremendously grown in the global market places and now available to all range of businesses.
Cloud services are no more only for high budget enterprises, the recent technology advancements have made cloud affordable for small and medium businesses that has relatively low IT budgets.
Today cloud providers offer range of flavors namely private, public and hybrid models where the enterprises are allowed to opt for the model that best suits their business needs.
Initially there was significant price difference between private and public clouds which is almost narrowed down in the recent years. Only high budget companies afforded private cloud in the past, but today it evolved as a cost effective model and becoming part of necessities in IT infrastructure for many small and medium enterprises.
Enterprises are thoroughly evaluating the cloud models to identify the one that best suits to their business operations, both the private and public cloud adoptions have increased massively in the recent years. Some enterprises are getting inclined towards hybrid cloud model that blends both private and public clouds driving innovation in to their business critical operations.
Hybrid cloud is enabling the users to easily move workloads between the public and private clouds. Enterprises from banking and finance sectors are opting for hybrid model that allows them to store their sensitive confidential data on private cloud and non-sensitive information on public cloud with which they achieve efficient data processing and enhanced data security.