Did you know that the global cloud computing market is expected to grow to $947.3 billion by 2026? The global cloud computing industry has a market size of $480.04 billion, as of 2022. An organization’s future depends on cloud computing and that’s the reason 67% of enterprise infrastructure is now cloud-based and 92% of businesses have a multi-cloud strategy in place or in the works.
Needless to say, Cloud Migration Solutions are a current and future requirement for thriving businesses that want to expand globally and meet evolving customer needs. Cloud migration is the best alternative to trade off CapEx with OpEx and achieve better utilization of computing resources, operational efficiency, and reduce cost. Let’s explore some practical reasons of adopting cloud migration for companies and how it benefit them:
1. Scalability and Flexibility:
Another reason for choosing cloud is the scalability it offers to companies. Cloud services can be scaled up and scale down easily as the demands change. Besides the on-premises deployment where you need to invest in hardware, software licenses and networking equipment, cloud allows you to scale your needs in seconds. Cloud services are also highly flexible. Cloud platforms are network of several servers connecting to each other with private connection, hence it don’t tie down to a people or a particular location. Companies are leveraging this advantage and onboarding the best talents or teams for strategic business decision making to grow in a crowded market easily.
2. Collaboration Efficiency:
Cloud allows collaboration on a much larger scale irrespective of location. Multiple users from different teams or departments can access required information when and how they want. It provides great efficiency in workplace management. Organizations can set up a multi region infrastructure with cloud platforms that drives better collaboration and efficiency even among global teams and contribute to growth. As cloud also supports automation, it helps further reduce human errors and speed up the decision-making process.
3. Business Continuity and Disaster Recovery:
There are many companies that have chosen cloud to implement disaster recovery plans to ensure business continuity. How companies store and access data has undergone a significant change thanks to the cloud. Companies can instantly restore business data if deployed or backed up on cloud data centers and allowing them to continue their operations without any downtime. All the companies want it to eliminate the downtime of a service or application and in which cloud allows them to survive and remain competitive following no data loss.
4. Store, Secure, Manage, and Use Large Data Volumes:
As every business is digital today, they are generating a large volume of data in the form of customer data, inventory data, content and services, and more. The data can be structured and unstructured and are required to be saved, secured, filtered and reused to better decision making. As the growing data has already taken the form of big data even among small organizations, companies are switching to cloud migration services. Cloud platforms not only are offering better and cheaper options to store and secure big data but also cost effective ways of information processing. On-premises data centers are not designed to keep up with high-volume data generation in the long run. Even if you want to do it in traditional ways, it will require substantial investments initially. Whereas cloud data warehouse supports advanced storage and supports advanced analytics that allows organizations to attain rapid information processing.
5. Cost Cutting and Optimization:
Using on-premises infrastructure to scale up is an expensive endeavor. You will need additional investment, network hardware, software licenses, and internal technicians to set up the new infrastructure. These costs soar through the roof when maintenance installation expenditures are taken into account. Additionally, infrastructure is typically vulnerable to physical harm brought on by catastrophes like fires and floods.
When you move to the cloud, you may cease investing on redundant infrastructure. With cloud computing, you can scale up much more quickly than with on-premises technology, despite the upfront setup costs and training. Cost efficiency is a key factor in why businesses all over the world prefer the cloud to traditional solutions. You can resize your resources or choose reserved instances or spot instances or options to save cost on your cloud deployment which in long term is cost effective to in house deployments.
Conclusion:
There can be many more reasons that a company chooses cloud migration services besides what is mentioned above. But the aim of all these companies will always be to achieve better operation efficiency, backup and disaster recovery solutions, business continuity and cost optimization on a horizontal level. You can grow your company more than you ever could without the help of cloud services. Cloud migration not only helps you save time, money, and effort, but it also greatly increases productivity and makes it easier to develop new business strategies that will help your company grow.
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