Marissa Tejada| Midsizeinsider
Public cloud computing is gaining steam, according to a new study by IDC. Midsize firms today are more seriously considering public clouds on account of their proven economy and speed. As vendors take a closer look at security concerns, growing firms will certainly contribute to greater growth in the public cloud market.
According to IDC’s latest look at the public cloud market, services will add up to $47.4 billion this year and will more than double within the next five years to more than $107 billion. It is a significant increase, says the IT research firm, because the public cloud market’s compound annual growth rate (CAGR) adds up to more than 23 percent. That is five times faster than the growth rate of the IT industry as a whole.
The findings, which were detailed in an article in InfoTech Spotlight, pointed to the growth of the third platform that is run by cloud services and that includes big data, social media and mobile technologies. IDC analysts observe that cloud computing is becoming more of a core for “business-as-a-service,” which is valuable to IT pros at any level.
Private clouds have traditionally been the preferred option for companies very concerned with security. However, according to IDC’s analysts, the public cloud computing options also equally enable privacy and control features. This opens up the door to more public cloud options for IT professionals at midsize firms who are tasked with finding the right provider to meet their firm’s IT information infrastructure goals. In the past, certain security objections may have held a firm back from public cloud adoption. The surge in the market and demand for various security features is quickly changing what vendors can offer growing firms.
The article highlights the fact that the public cloud model is now offering a good blend of private and public technologies, including the virtual private cloud (VPC). VPCs are public but leverage multitenant public cloud services. At the same time, the public cloud’s increased demand naturally will result in increased affordability, which is always good news for midsize firms that must scrutinize all costs and investments down to the last dollar.
The Public Cloud Future
As a result of the increased demand for public cloud services, vendors will continue to push services that entice companies to adopt the technology. An increase in security options has already changed the minds of companies that previously felt more at ease with private cloud computing. Midsize firms can take advantage of more choices in the public cloud market that are geared toward their needs, are increasingly affordable and enable them to be as competitive as possible while keeping their data safe.