Cloud Computing Trends Within The Specialized Services Market

Cloud computing is growing at an amazing rate, with an expectation of double-digit growth rates from 2014 to 2017.

Cloud computing is a segment within the specialized services market, which also includes the machine-to-machine (M2M) and cyber security segments.

The specialized services market is forecasted to reach $198.6 billion in overall spending by 2017. The cloud computing market is forecasted to have a CAGR (Compound Annual Growth Rate) of 18 percent, with projected spending to reach $136.7 billion by 2017.

How will cloud computing impact business as it becomes more ubiquitous in the next few years? The answer is rooted in the original goals set out by a company when selecting a cloud-based model.

Key Trends in Cloud Computing

This post will examine the key trends in cloud computing, being a major segment within specialized services that is changing how businesses plan their IT infrastructure. Note that each of the topics comprising specialized services is explored in depth in the “Emerging Trends in Business Communications” white paper. The cloud itself is a somewhat nebulous concept that really encompasses a variety of technologies and mediums working in tandem. To access the cloud, the first thing a company will need is broadband Internet access that is stable and fast enough to handle the transmission of large amounts of data on a regular basis.

Cloud Bandwidth Consideration

To effectively utilize the cloud, companies must have enough upload and download bandwidth to send and receive data, respectively. Accessing the cloud, therefore, requires that businesses be aware of their upload bandwidth, which is an often overlooked concern when the main focus is usually the speed at which information can be downloaded. In addition to a stable broadband connection, businesses must choose where, and with whom, their data will be stored.

3 Main Goals When Moving To The Cloud

There are three main goals when moving to a cloud-based solution. First, a business may have a limited budget to develop in-house IT infrastructure. By leveraging cloud services, a company can remain lean without the need for capital expenditures to implement internal hardware. Essentially, a company only needs access to the Internet and a cloud service. Second, a company can add cloud computing power to their internal computing power to process large amounts of information or analyze Big Data. For example, a company may want to tap into Big Data collected from a variety of sources pertaining to customer information to understand the behavior of their customers and prospects. Finally, a business may want to diversify where their customer and proprietary information is stored in case of data loss from internal physical equipment failure or a catastrophe; such a diversification introduces data redundancy to protect a business.

For more information about how companies are implementing cloud computing and what impact it is having on business, consider downloading the white paper: “Emerging Trends in Business Telecommunications: 3 Major Telecom Impacts on Business.”

[1] TIA. (2014). TIA’s 2014-2017 ICT Market Review & Forecast. Arlington, Virginia: Telecommunications Industry Association.

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