Reaching New Horizons: The Potential of Cloud Computing
Cloud computing refers to technology that enables the on-demand availability of data and power without active management by the user. Clouds function as data storage systems through the internet to make data available to clients remotely. Whilst most popular cloud clients are available for subscription by the general public, companies, and organizations can create their clouds. Cloud computing has been at the forefront of developments in technology and business. It has reduced the costs companies and governments are required to incur to develop IT infrastructure. Research also suggests that the introduction of cloud networks reduces maintenance and managerial costs and efforts, and enables systems to react to market fluctuations efficiently.
Cloud computing, which first gained traction in popular media in the past decade, continues to be a nascent field that is driven by technological research. Cloud computing has gained popularity amongst software and computer engineers because it allows them to reduce the risk of internal outages and mitigate the complexity of housing network and computing hardware in-house. Major players in the tech industry- including Google, Amazon, Apple, and Facebook invest billions every year in research and development surrounding cloud computing. Microsoft has been spending 90% of its Research and Development Budget, which amounts to $9.6 billion on cloud computing. This comes at a time when competitors including Oracle, Google, and SAP have made significant strides in the market.
Research conducted by the investment banking company Centaur Partners suggests that SaaS (Software as a Service- a subfield in cloud computing that allows users to use applications on cloud infrastructure through their mobile devices) revenue would grow from $13.5 billion in 2011 to $32.8 billion in 2016. Innovations include developments in serverless computing. By eliminating the need to operate servers, this uses a ‘pay as you go system’ which enables organizations to have more command over their expenses in cloud hosting.
Cloud computing has also enabled advancements in quantum computing. The foundation of cloud computing is based on fast network systems that do get multiplied. Cloud computing helps expand its computing force and performance. Cloud computing has brought about significant changes in the labor market and workplace practices as well. Digital Nomads use cloud computing applications to work remotely and maintain their professional careers. The very idea of living where your workplace is has been challenged by cloud computing.