The COVID-19 pandemic made cloud computing critical as organizations were forced to adopt cloud technologies to stay operational remotely. According to a recent survey, around 60% of millennials would now prefer to join companies with hybrid work structures, which evidences the growing need for cloud infrastructure.
Alongside large corporations, the cloud migration of small, new players and SMEs is also driving this market’s growth. Faster data communication and storage, cost-cutting, optimum use of resources, and enhanced management capabilities are some of the factors inclining businesses toward rapid cloud migration. Global cloud expenditure is expected to rise by more than $947 billion by 2026, and the market is expected to grow at a 17.5% CAGR through 2025.
