In 2020 alone, Cloud computing has gone from growing technological trend to an essential tool for modern computing. The abrupt shift to remote work forced organizations to accelerate their migration to the cloud in an attempt to stay afloat in a time of lockdowns and shelter-in-place orders.
As a result, cloud technology has experienced a huge boom in growth and popularity. In fact, 81 percent of enterprises sped up their IT modernization plans due to the pandemic, according to a CensusWide study . Another 73 percent of enterprises accelerated their cloud migration process to support remote work across their organization.
Enterprises with over 500 employees were the most likely to expedite their cloud migration plans due to the pandemic. 73.5 percent of enterprises with more than 500 employees did so to support employee working arrangements. This demonstrates how important the cloud has become this year alone.
Having a remote workforce is no longer a fad popular among those working in certain industries. If the statistics above have shown anything it’s that cloud won’t die out post-pandemic. Business leaders and employees are adjusting their schedules to this new remote work model. As they do, concerns about cyber security, VPN’s and bandwidth become more relevant.
Cyber Security Shifts
A remote work model has changed the way businesses operate but has also created cyber security vulnerabilities for business owners and their employees. Companies that typically deal with valuable client information such as financial services, health care and more are now working on their laptops and home networks. Although this new businesses model has made working through a lockdown more effective, it creates conditions for potential threats like ransomware and phishing attacks. With these present threats in mind, businesses need effective security solutions to mitigate these threats.
83 percent of enterprises invested in their cyber security in 2020. Business leaders are using this time to strengthen and accelerate cloud migration but also to modernize their cybersecurity strategy. Large scale IT companies have seen their budgets increase by 59 percent. What that tells us is these concerns over increased vulnerabilities are not only taken into consideration but are actively being responded to.
Cloud Computing is Changing So Are We
We also witnessed how cloud-based conferencing helped schools and businesses maintain their operation and how internet technologies became essential when stores had to close. Since more businesses are relying on the cloud there will be a need for increased flexibility. Cloud computing and managed IT services industries helped keep companies up and running. However, there will be further development in the cloud landscape as we enter into 2021.
The cloud computing market saw a significant jump in development the last few years. Advances in technology and increased digitalization due to remote work has created an environment more dependent on cloud solutions than ever before. Cloud systems process data in a centralized location, namely data centers. Developments in other areas such as edge computing has made it easier to achieve better efficiency in operations. This then leads to lower costs and increased profits.
Meanwhile, cloud stocks have gone up as business look to the technology to resolve not only practical matters regarding remote work but also enable data sharing, increase productivity and invest less in internal IT to operate.
Looking ahead to Cloud Computing In 2021
One notable factor will be the permanent integration of remote work. As time progresses and the coronavirus outbreak is contained, there might be more hybrid models throughout a variety of industries. Many financial firms and real estate companies are starting to practice one version or another of a hybrid work model.
Businesses will continue to learn how to leverage this new hybrid system in the coming month. Data protection is currently and will be the top concern for many businesses operating on the cloud. Securing data across endpoints and remote locations, maintaining compliance, and efficient cloud platform design are going to become more important than ever before. Many industries will continue to struggle with these concerns while others look to managed IT services companies for 24/7 security monitoring, data back-up and retrieval protocols and even business continuity planning in the case of a natural disaster or data breach.
IT experts have said 90 percent of businesses do not have a critical disaster recovery plan. The more dependent businesses become on cloud technology the more vulnerable they are to certain kinds of cyber attacks. 60 percent of businesses that experience a data breach don’t survive. The coming years should see an increased level of awareness for cyber vulnerabilities and a demand for a more responsive and proactive business recovery plan.
66 percent of technology executives ranked data loss as their top concern, according to one survey. Businesses that execute on a comprehensive IT consulting strategy and cyber security plan will be the ones with the most success. With so many industries relying on remote work and a cloud network to make it happen, the risk for of a breach is fairly high.
What we can say for certain after analyzing the numbers is the importance of a sound security strategy and the ever increasing presence of the cloud. Those who learn to leverage these incoming technological shifts effectively are the ones who will grow in 2021.