In most IT communities, it is commonly acknowledged that the Public Cloud is both the wave of the future and the present. Hence, it is an accepted fact now that Cloud computing is not going away and shall expand significantly in the coming years.
According to Gartner, Public Cloud service spending climbed by 20.4% in 2022, reaching a whopping $494.7 billion. In comparison to the $410.9 billion in 2021, this is a tremendous growth.
Ensuring business continuity with a full spectrum of data calls for multiple checkpoints, including the elimination of complex IT silos, operation simplification, and cost reduction while meeting your SLAs. Plus, when you need to be adaptable, mobile, and available at all times, the risk of data loss increases in tandem with the prevalence of modern technologies.
The rapid digitisation ushered in by the pandemic has witnessed organisations shifting their mission-critical workloads to the Cloud. The rush to migrate to the Cloud is so fast that Gartner estimates that nearly 95% of the new digital workloads will be managed on Cloud-native platforms by 2025.
The BFSI sector has been expending considerable efforts to reinvent its operations, especially given the sweeping tide of digital models and changing consumer behaviours. Consumers today expect near-instant, personalised and seamless servicing across channels - online, mobile, and in-person.
Technological prowess drives these changes, fuelling financial institutions to embrace the Cloud. This is where the Financial Cloud comes into being. It renders better growth, speed, innovation, security, and compliance across all the operational facets - front, middle, and back office.
It's no surprise that data storage costs eat up a sizable chunk of enterprise IT budgets, given the proliferation of applications and devices creating enormous volumes of data.
In light of this, many businesses have turned to Cloud storage due to its usage-based pricing model, as well as its other advantages, such as its adaptability, scalability, global distribution, and increased security. In fact, half of the 175 ZB of data, according to the IDC 2025 prediction, will be kept in the Public Cloud.
As the world around us continues to transform into an intricate web of interconnected data, few people realise the potential it holds. Organising a flow that influences individual customers and large economies could very well be the end game for almost every organisation out there.
IT infrastructures are becoming more complex to handle by the day. Data Centers (DCs) are now burdened with high-speed loads with Cloud applications on the rise. Accordingly, there is a rising need for DCs to become more reliable and secure, embracing the powers of low latency, interconnectivity and bandwidth.
Technological advancements have introduced yet another set of phenomena - Software Defined Networking (SDN) and Software-Defined Data Centers (SDDC).
As Cloud services take Enterprise IT by storm reinforcing the pivotal role played by Data Centers to manage corporate data, the next move calls for Data Centre Infrastructure Management (DCIM).
In laying the context, the Global DCIM market is quite the talk at business conferences. Valued at USD 1692.5 million in 2021, the DCIM market is poised to surpass USD 3148.6 million by 2028 at a CAGR of 10.9% during this period.