A look at the future of the cloud and its economic impact

A look at the future of the cloud and its economic impact

By Ashish Mehra

Cloud computing has become an important strategy for companies of all sizes, especially when it comes to databases. The ability of public clouds to provide a flexible and scalable infrastructure has revolutionized the way companies operate, reducing costs and improving efficiency. As a result, the cloud computing market has grown remarkably, driven by the growing demand for cloud-based services across all industries.

Open source databases such as Postgres have played a crucial role in the growth of cloud computing as they provide a cost-effective, scalable and customizable solution for companies to manage their data in the cloud. According to Grand View Research, the cloud computing market was estimated to be worth $484 billion by 2022 and is expected to grow at a CAGR of 14.1% from 2023 to 2030. With the recent shift to remote working, cloud computing has become even more essential for companies to provide their employees with access to the necessary tools and resources. As we look to the future, cloud computing will continue to play a vital role in shaping the business landscape, with emerging technologies such as artificial intelligence, machine learning, hybrid cloud environments and edge computing opening up new possibilities for innovation and growth.

Cloud computing impact

Modular software prioritization: Due to the increasing complexity and size of individual programs, cloud computing technologies will eventually require advanced systems thinking. In today’s scenario, most system software requires substantial customization, which means that even commercial cloud computing solutions need extensive customization in terms of functionality and security. Also, the user interface and functionality of this new program should be improved.

Bigger storage capacity: Data generation is on the rise and continues to increase, and keeping such a large volume of data securely is difficult. Since most companies still have physical data centers for their customers and business information, cloud server vendors anticipate that as more companies adopt cloud technology, they will be able to offer more cloud-based data centers at reduced prices. Also, with the help of this development, data storage will be smooth and will require less physical space.

Postgres’ extensible data model makes it an ideal choice for companies looking to grow and expand in the cloud without worrying about overloading their IT infrastructure with heavy data and user activity. Postgres can handle the stress of multiple users accessing an application with ease, making it a strategic choice for companies transitioning to cloud computing.

Best security: Currently, data stored on cloud servers is mostly secure. Smaller cloud service providers will not be able to provide or understand all of the necessary security measures to adequately protect data. Therefore, future cloud services will employ better cybersecurity measures and apply security best practices to prevent hacks. For example, Transparent Data Encryption (TDE) helps companies maintain security and meet compliance requirements at the database level, giving full control to DBAs but preventing unauthorized access to customer data. Furthermore, companies will be able to focus on more essential tasks as they don’t have to worry about data security or alternative data storage methods.

Future of cloud computing

Hybrid cloud environments: Hybrid cloud environments combine public and private cloud capabilities and are becoming increasingly popular. This approach allows companies to take advantage of the scalability and cost-effectiveness of public cloud services while maintaining control over their sensitive data and applications. As enterprises seek to balance the benefits of the public cloud with their security and compliance requirements, hybrid cloud environments will become more commonplace.

Edge computing: Edge computing, which involves processing data locally on devices or servers rather than in a centralized data center, is another trend that will shape the future of cloud computing. With the growth of the Internet of Things (IoT) and other connected devices, edge computing will become increasingly important. By processing data at the edge of the network, companies can reduce latency and improve performance.

Artificial Intelligence and Machine Learning: Businesses and individuals are increasingly using the cloud to store and manage their data due to rapid advances in artificial intelligence (AI). This is primarily due to the ability of AI-powered data analytics to spot emerging trends and patterns that might otherwise go unnoticed. Furthermore, cloud-based AI systems can evolve and learn, improving their data processing capabilities. Therefore, the need for cloud-based AI services is predicted to increase in the coming years.

Serverless computing: A recent development in cloud computing, serverless computing, has the potential to completely change the way we think about hosting websites and other applications. The infrastructure needed to run the application code is managed by a cloud provider in a serverless architecture, eliminating the need to maintain physical servers. Because you only pay for the resources you need when your code runs, this can simplify deployments and reduce the overall operational cost of an application. Although the technology is still in its nascent stage, serverless computing promises a scalable and cost-effective method of running cloud-based applications.

Revolutionizing the future of business and the economy

Cloud computing has revolutionized the way companies operate, allowing them to access advanced technologies, increase efficiency and reduce costs. The future of cloud computing is bright and the adoption of cloud computing has greatly benefited database management systems like Postgres, allowing companies to easily access, manage and scale their databases in the cloud. As businesses embrace cloud-based services, technology continues to evolve, offering new and innovative ways to improve efficiency and drive growth. In addition, the cloud has allowed companies to operate from anywhere and at any time, providing flexibility that was previously impossible. So, to stay ahead, companies will need to stay up to date with the latest trends and technologies and invest in the tools and services needed to take advantage of them.

(Author is Country Head — Sales at EnterpriseDB)

Disclaimer: The opinions, beliefs and views expressed by the various authors and forum participants on this site are personal and do not reflect the views, beliefs or views of ABP Network Pvt. Ltd.

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