85 percent of surveyed enterprises say cloud computing has lived up to the industry hype, with 23 percent saying cloud had exceeded their expectations, said a research conducted by Tata Communications.
Increased productivity (69 percent), better access to data (65 percent), and reductions in costs (63 percent) are some of the main benefits of Cloud computing.
By 2024 off-premises storage will overtake on-premises alternatives, with enterprises forecast on average to have 58 percent of their compute and data storage held in the cloud in ten years’ time compared with 28 percent currently.
Enterprises said 52 percent of their IT provision would be stored in private cloud by 2024. However, 94 percent of respondents say they would be more likely to adopt a hybrid cloud computing model if connections with the public cloud were more predictable.
65 percent said using the cloud had led to increased speed of access to technology. In terms of streamlining business processes, over two thirds (67 percent) have experienced reduced delivery times to clients and partners. 54 percent have seen the delivery time of new services to new markets and / or geographies reduced.
The IT research was done in the U.K., France, Germany, USA, Singapore, Hong Kong, China and India. Respondents were from a range of industry sectors, including IT, manufacturing and production, financial services, retail, distribution, and transport, and business and professional services. The public sector was excluded from this research on Cloud.
“This independent research shows that the cloud has exited the hype cycle and entered the real adoption phase for businesses globally. It is now a strategic investment and a competitive differentiator,” said Julie Woods-Moss, CMO and CEO of NextGen Business at Tata Communications.