- How much data does the cloud store?
The cloud is a vast repository of data that stores data from different sources and various forms. According to projections, there will be more than 100 zettabytes of data in the cloud by 2025. One zettabyte is equal to a billion terabytes, meaning there will be massive data in the cloud by then. It is also estimated that global data storage will go over the 200-zettabyte mark by the same year. This means half the global data will be stored in the cloud. This is by far larger than the 25 percent of all the global data stored in the cloud in 2015.
- Cloud data centers will dominate the processing of workload
According to studies, cloud data centers will dominate workloads processing beginning this year. These data centers will process about 94 percent of data. On top of this, SaaS processes will contribute to over 75 percent of all the workload. This means that non-cloud-based data centers are on the decline, and cloud-based data centers will dominate the storage arena.
- What is the worth of the cloud computing market?
The cloud computing market has grown significantly, and its total worth was about $371 billion in 2020. By 2025, it is projected that the market will be worth about $832.1 billion with a compound annual growth rate (CAGR) of 17.5 percent.
- The video streaming market will continue to grow with the cloud
As cloud computing continues getting fame, online video streaming platforms continue to grow. All online videos are now hosted on the cloud, with the video streaming market worth over $59.14 billion. Video streaming giants like Netflix and others such as HBO and Disney depend on the cloud to provide their services. With an annual CAGR of 21 percent, the video streaming market is expected to hit 223.98 billion in revenue by the end of this decade.
- North America continues to dominate the cloud computing market
Looking at the statistics, North America continues to lead other regions in the global cloud computing race with 61 percent of the market in 2020. This is three times the second-largest market (Western Europe), with 21 percent of the market. Asia-Pacific region and specifically China is coming up fast as the booming cloud computing market. China's total cloud spending infrastructure spending was $11.5 billion in 2019 but grew to $19 billion last year, which is an increase of 66 percent.
- Remote work is rising
Thanks to the COVID-19 pandemic, which has disrupted many operations and work, the adoption of work from home arrangements has increased. Due to challenges that have resulted in social distancing, lockdowns, and other similar measures, the workforce has moved online. A study points out that approximately 34 percent of employees prefer using the cloud for their work-related activities. Most employees claim that even after the pandemic, they will look for newer opportunities that will allow them to work from home.