Cloud computing

What is cloud computing?

Cloud computing is the delivery of computing services—including servers, storage, databases, networking, software, analytics, and intelligence—over the Internet (“the cloud”) to offer faster innovation, flexible resources, and economies of scale.

The benefits of cloud computing

Cloud computing has three primary benefits:

  • Cost savings: Cloud computing can help you reduce your IT costs by using the pay-as-you-go model, which allows you to only pay for the resources you use. In addition, you can avoid the upfront costs of purchasing and maintaining hardware and software.
  • Flexibility and scalability: Cloud computing gives you the ability to quickly scale up or down your resources as your needs change. This can help you save money by only paying for the resources you use.
  • Speed and agility: Cloud computing allows you to quickly deploy new applications and services, which can help you be more agile and responsive to your customers’ needs.

The risks of cloud computing

Cloud computing has three primary risks:

  • Security: The security of your data is important, and you need to be sure that your data is safe when it’s stored in the cloud. When you store data in the cloud, it’s important to encrypt your data and to use a secure connection.
  • Privacy: When you store data in the cloud, you may be sharing your data with other users of the cloud. This can be a risk to your privacy if you are not careful about who you share your data with.
  • Reliability: The cloud is a new technology, and it’s important to be sure that your data is safe and that you can access it when you need it.

The future of cloud computing

The future of cloud computing is bright. It’s expected that the global cloud computing market will grow from $272.5 billion in 2018 to $623.3 billion by 2023, at a compound annual growth rate (CAGR) of 17.5% during the forecast period.1

1 Gartner, “Forecast: Public Cloud Services, Worldwide, 2017-2021,” 2 August 2018.

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