Privacy / Security

Where we are at in terms of past cloud forecasts

09th Nov `17, 11:52 AM in Privacy / Security

In 2017, it seems that cloud platforms are orchestrating far more global-based integration networks this year than many…

Philip Piletic
Philip Piletic Contributor
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In 2017, it seems that cloud platforms are orchestrating far more global-based integration networks this year than many advisory firms and analysts had predicted in 2016. Cloud platforms are enabling new, complex business models that couldn’t have been possible just a few years back. Now lead researchers such as Forrester have to rethink and adjust their forecasts as more mid-tier and SMBs start adopting Cloud Services.

If we want an accurate picture of any business forecast, of course, we must follow the money. Amazon’s latest quarterly results back in late April of this year showed that Amazon’s Web Services (AWS) attained 43 percent year-over-year growth, contributing 10 percent of consolidated revenue and 89 percent of consolidated operating income.

The Wikibon Prediction

Between 2016 and 2026, expect to see enterprise cloud spending to grow at a 16 percent compound annual growth (CAGR) run rate. They also predict that Amazon Web Services will reach $43 billion in revenue by 2022, and make up 8.2 percent of total global cloud spending.

Wikibon-Enteprise-IT-Projection

This means that Amazon’s Web Service will be a big player in the world of cloud, but it will not dominate. After Wikibon engaged with its community and ran their scenarios, they discovered that the overall customer base is ready to transfer their workloads to the cloud, but they’re not exactly ready to “take a one-size-and-vendor-fits-all approach.”

How the IDC Weighs in on the Prediction

Since 2009, cloud spending has been growing 4.5 times faster than that of IT spending. This trend is expected to continue at more than 6 times that rate in the years to come on into 2020. The IDC also predicts that global spending on public cloud computing will increase from $67 billion back in 2015 to $162 billion in 2020, which would give it a 19 percent CAGR. If you so wish, you can download the PDF here.

SaaS Cyber Security Concerns Going Into the Future

With the emerging trend of cloud based services such as PaaS and SaaS, consumers can reap the rewards of improved security. When businesses are paying for cloud based software and platforms, they’re also outsourcing their data security to facilities with expertise they would never have in-house.

The fact is, enterprises and other organizations will be producing and storing more data in the next three to five years than in any other time during the digital age.

With that said, looking at a zero percent unemployment rate, security skill sets are becoming more scarce than at any other time in the history of the digital age. And there is no sign that those educators responsible for filling the talent gap are anywhere close to solving the problem, for they themselves are having a tough time keeping up.

Symantec CEO, Michael Brown, states that the demand for cybersecurity experts is will rise to six million globally by 2019. This is right around the corner. Furthermore, cyber defence is projected to exceed $1 trillion between 2017 and 2021.

Whether we’re looking at national security, corporate or individual, in this digital age cybersecurity has become one of the world’s biggest problems to solve. And this will only be a continuing trend for as long as we have internet.

“As the cloud environment reaches maturity, it’s becoming a security target and it will start having security problems. It’s possible cloud will fall victim to a tragedy of the commons wherein a shared cloud service becomes unstable and unsecure based on increased demands by companies.

“When it comes to cloud, security experts will need to decide who they can trust and who they can’t. Companies should develop security guidelines for private and public cloud use and utilize a cloud decision model to apply rigor to cloud risks,” writes Kasey Panetta of Gartner.

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