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Cloud Computing Market Crosses $40 Billion in Revenue During Q1 2021

Cloud Computing Market Crosses $40 Billion in Revenue During Q1 2021

It’s easy to talk about the impact of cloud computing on businesses in theory. That said, sometimes statistics and data are the only way to truly capture how impactful these new technologies are proving to be. During Q1 2021, the global cloud infrastructure crossed $40 billion in revenue. While the “Big Three” of the industry are leading the charge, plenty of cloud computing providers are seeing monumental gains in the way people seek out these services. 

It was clear at the onset of March 2020 that things would be changing for the working world. As offices and traditional business operations got thrown to the wayside, cloud computing became synonymous with “the new normal.” During this transformation, we saw what experts expected to happen over the course of a few years occur in months. Companies of all industries and sizes switched over to cloud computing solutions. The accelerated digital transformation is likely to continue impacting major businesses and small businesses alike. The question now is how long will this trend continue?

Cloud Services Boom in 2021 – How Long Can the Trend Last?

Nearly all cloud service providers saw boosts in business during 2020 and the early months of 2021. As vaccination rates in the United States continue to increase, more and more businesses are returning to normal office operations after remote setups. That said, the benefits of cloud computing aren’t getting left behind with the house shoes and short commute from the bedroom to the home office. 

While cloud service providers like Amazon, Microsoft, and Google all saw huge boosts, so did the area service providers that serve Paramus and similar areas. Global distributors like Alibaba and Tencent saw similar increases in revenue. The top providers aren’t just making profits, they’re exceeding the wildest expectations of shareholders. AWS earned $13.5 billion in Q1 2021, followed by $7.8 billion for Microsoft and $3.5 billion for Google. 

As competition at the top tightens, the real headline for small businesses and mid-to-lower level businesses is the growth in area cloud service providers. Regional offerings are increasing all across the country and that means better services for areas otherwise left out of the big-city expansions seen over the past 5-10 years. This means even a small business run by a few people can benefit from cloud computing services like cloud security, web hosting, and data storage.

 

When it comes to growth moving forward for the top providers and area providers, the numbers aren’t expected to slow down any time soon. As cloud infrastructure investments across all sized businesses increased in 2020 and the first quarter of 2021, the market expects to see this continue for years to come. While the major rush to the cloud isn’t going to necessarily mean every quarter will result in $40+ billion in revenue, there aren’t expected to be dips. The market still has plenty of room to address the needs of those organizations who are slowly coming around to what cloud services can offer their business in a shifted world.

When Is the Right Time to Start Using Cloud Services?

Cost concerns and accessibility kept some organizations and businesses out of the cloud services game in the past. Those two areas of concern are now relieved by a growing number of cloud service providers all across the United States and beyond. Any business can reap the rewards of cloud hosting, storage, and other services. 

There’s not a wrong time to start exploring how cloud services can impact your business. In fact, now is a perfect time, even though everyone else seems to be hopping on the bandwagon at the same time. There’s a reason for that; we’ll continue to see cloud computing boost businesses who invest in its potential utility. 

Curious about getting started? Reach out today and find out what cloud computing could do to help impact your business and increase metrics in your industry. 

Contact IT Vortex for any of your Hosted Cloud Services and/or Managed IT Services today!

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