Cloud computing is often viewed as a solution to business problems. But not all cloud offerings are designed to save companies money or enable them to be more competitive. The cloud can also provide less easily-quantifiable benefits for individuals and organizations.

The popularity of cloud computing is primarily due to the advantages it provides over traditional information technology (IT) solutions. Companies in a wide variety of industries make use of cloud computing to compete more effectively with their market rivals. In many cases, organizations are not able to replicate the technological solutions available in the cloud with an on-premises computing environment.

Businesses are steadily migrating more of their information technology (IT) environment to the cloud. The cloud computing market continues to grow at an impressive rate and it’s expected to be over $940 million by 2026. The percentage of corporate data stored in the cloud continues to grow, reaching approximately 60% in 2022.