Cloud services are gobbling up an increasingly large share of corporate technology budgets as businesses rush to digitalise. The search is on for ways to keep costs in check and extract maximum value for money from the cloud.
Gartner calculates that expenditure on public cloud services will surge from 9% of global enterprise IT budgets in 2020 to more than 14% in 2025. Its researchers have estimated that global spending in this area rose by 23% year on year in 2021 to $332bn (£249bn). They’re expecting a further 20% increase this year.
“Humanity is generating ever more data,” observes Maxim Melamedov, co-founder and CEO of Zesty, a provider of software designed to optimise cloud utilisation. “It’s inevitable that we will see inflation in the costs of running, storing, managing and getting insights from this tremendous amount of data.”