Cloud Hosting and Cloud Computing Statistics for 2024

Cloud computing is a technology that enables users to access computing resources, such as servers, storage, and applications, over the internet. It also provides a flexible, scalable, and cost-effective solution for businesses that need to store and process large amounts of data. So, the importance of cloud computing in today’s business landscape can’t be overstated. 

With the rise of big data, mobile devices, and the Internet of Things (IoT), businesses need to be able to store, process, and analyze vast amounts of data quickly and efficiently. Cloud computing provides a scalable and flexible solution for businesses of all sizes, enabling them to rapidly deploy new applications and services without having to invest in expensive hardware and infrastructure.

Let’s look at some of the important cloud computing and cloud hosting statistics.

Cloud hosting/computing statistics based on market growth

• According to Statista, the global cloud computing market is expected to be valued at $168.6 billion by 2025. 
• Cybercrime Magazine predicts that 200 zettabytes of data will have been stored in the cloud by 2025. 
• Migrating to cloud services can help businesses unlock additional revenue streams that may boost profit growth by as much as 11.2% year-over-year. (source: Infosys) 
• Statista reports that approximately 60% of the world’s corporate data is stored in the cloud. 
• More than 92% of organizations use cloud computing. (source: Directive.com) 
• The average individual uses around 36 cloud services daily. (source: Spacelift.io) 
• AWS holds the top spot among cloud hosting providers with a 33% market share, followed by Microsoft Azure at 23% and Google Cloud at 11%. (source: Wire19) 
• According to Statista, Amazon S3 owns nearly one-quarter of the enterprise cloud computing market. 
• TechRepublic reports that less than half of traditional small businesses utilize cloud infrastructure or hosting services. 
• In Q1 of 2022, the cloud market experienced 34% growth (Source: Synergy Research). 
• According to Statista, the top eight cloud infrastructure service providers control more than 80% of the market. 
• More than 90% of organizations make use of cloud computing, as reported by O’Reilly. 
• Fortinet’s 2021 report reveals that cloud-based workloads account for 75% of workloads in one out of every five organizations.
• RightScale’s report indicates that cloud adoption among enterprise organizations is over 94%. 
• TechRepublic reports that organizations with 1,000 or fewer employees invest heavily in the cloud. 
• According to ReportLinker, the United States and Western Europe remain the dominant regions for cloud computing. 
• Oracle and IDC’s research shows that 40% of organizations in developing regions are currently evaluating and planning cloud strategies. 

Cloud hosting/computing statistics based on spending and optimization

• Spending on cloud technology is predicted to increase by 22% in 2023. (source: GlobalX) 
• On average, basic cloud hosting costs around $8.47 per month. 
• In 2023, 61% of businesses are planning to optimize their cloud costs. 
• Gartner predicts that public cloud services spending will reach almost $600 billion. Gartner also forecasts that almost $200 billion will be spent on SaaS in 2023. 
• Synergy reports that cloud infrastructure services generate $178 billion in annual revenue. 
• IDC projects that global cloud infrastructure spending will reach $1.35 trillion by 2027. 
• According to Newzoo, the cloud gaming market is expected to be worth more than $8 billion by the end of 2024. 
• Deloitte reports that 36% of commercial real estate executives plan to invest in cloud computing. 
• Gartner states that around half of tech companies invest in cloud computing technology innovations. 
• Flexera reports that 31% of enterprises spend over $12 million annually on the public cloud. 
• Cost is the biggest factor that holds companies back from adopting multi-cloud infrastructure services, according to HashiCorp. 
• KeySight reports that 99% of people believe comprehensive cloud monitoring has direct business value. 
• According to NetApp, 82% of teams use automation to optimize cloud costs. 
• FinOps Foundation and CloudZero state that at least 30% of organizations need to master shared and untagged costs in the cloud. 
• RightScale reports that 54% of small and medium-sized businesses spend more than $1.2 million on the cloud. 
• CloudZero reports that cloud costs are higher than expected for 6 out of 10 organizations. 
• Flexera reports that 71% of organizations expect their cloud spending to increase. 

Cloud hosting/computing statistics based on security concerns and solutions 

• According to Panda, more than half of the companies fail to use encryption or tokenization to safeguard the data stored in the cloud. 
• One of the major challenges faced by businesses globally in cloud computing is security, as per Flexera. 
• Statista reports that data loss and data privacy are the two main concerns related to cloud security. 
• On average, a cybercrime costs an organization nearly $13 million, says Accenture. 
• As per IBM, the cost of a data breach was around $4.5 million on average in 2023. IBM further states that ransomware attacks constitute 28% of all attacks. 
• Risk Based Security and FlashPoint report that data breaches have exposed over 22 billion records. 
• As per Fujitsu and Vitreous World, a significant majority (73%) of people believe that cloud technology has increased complexity. Veeam notes that cloud computing is an up-to-date strategy for data protection. 
• Fortinet reports that a whopping 95% of organizations are worried about cloud security. 
• A single hour of downtime is estimated to cost companies over $100,000, according to Accenture. 
• Fortinet states that 68% of issues arise due to misconfiguration.  
• Fortinet notes that zero trust policies are becoming increasingly important. 

Cloud hosting/computing statistics based on its types

• According to BMC, cloud data centers account for 3% of the world’s energy consumption. 
• As per HashiCorp, 90% of large enterprises have implemented a multi-cloud infrastructure.
• According to Flexera, most organizations use multi-cloud cost optimization tools. 
• Around 80% of enterprises use a hybrid cloud model, as reported by Flexera. 
• Enterprises use an average of 2.6 public and 2.7 private clouds, as per Flexera. 
• According to HashiCorp, 53% of IT decision-makers believe that multi-cloud helps them achieve their business objectives. 
• Cloud services delivery models are dominated by SaaS, as stated by Gartner. 
• The IaaS market is expected to grow at a rate of over 30%, as per industry reports. 
• As per Gartner, Google Cloud’s IaaS offering is growing the fastest at 63%. 
• Zesty reports that 59% of tech leaders use hybrid or multi-cloud for security reasons. 
• According to Flexera, Azure is currently the leading private cloud provider. 
• Productiv reports that a typical company uses 254 SaaS apps. 
• According to GoodFirms, 54% of respondents use three different cloud storage providers. 

Cloud hosting/computing statistics based on Cloud storage

• China Telecom dominates the Chinese data center market with the world’s largest data center, accounting for 50% of the market share. 
• The cloud is a popular storage option for global corporations, holding 60% of their data. 
• Cisco predicts that IoT devices will generate a substantial amount of data in the coming years. 
• Thales reports that 46% of European companies choose to store all their data in the cloud. 

Cloud hosting/computing statistics based on Cloud waste 

• Flexera reports that 32% of the cloud budget was wasted. 
• According to StormForge, 75% of organizations have seen an increase in cloud waste. 
• Anodot‘s research suggests that 49% of cloud-based businesses struggle to control cloud costs. 
• As per Zesty, 42% of CIOs and CTOs consider cloud waste as the top challenge. 
• PwC‘s research shows that over half of enterprises are having difficulty seeing cloud ROI. 
• McKinsey reports that the average payback period for cloud investment is 1-3 years. 
• As per CloudZero, 7 out of 10 companies are unsure about their cloud budget expenditure. 
• 78% doesn’t notice cloud cost variance on time, according to CloudZero. 
• Only 23% of companies experience less than 5% cloud cost variance, as per CloudZero. 
• PwC‘s research indicates that 49% of business leaders face difficulty measuring value in achieving cloud ROI. 
• 24% of business leaders measure cloud value in terms of faster innovation and delivery, according to PwC. 
• Over 59% of companies use three or more tools to manage and optimize their cloud, as per Anodot. 

Benefits of Cloud hosting/computing

• Cloud computing can increase gross margins and profitability, according to a report from Wipro FullStride.  
• Infosys suggests that cloud computing can generate more revenue.  
• Implementing cloud computing can help businesses achieve faster time-to-market, as per IBM.  
• OpsRamp claims that using cloud computing can reduce startup costs.  
• Oracle reports that 6 in 10 CxOs believe cloud computing can improve security.  
• Aberdeen has found that migrating to the cloud enhances business resilience.  
• OpsRamp also suggests that the cloud boosts flexibility.  
• According to Accenture, switching to the cloud can reduce carbon emissions by 84%. 

Cloud adoption trends 

In recent years, cloud computing has been rapidly evolving and has become one of the most significant technological advancements in the IT industry. Emerging trends such as serverless computing, edge computing, and the integration of cloud into sustainability goals (ESG) have driven the adoption of cloud computing. 

The use of cloud services is also increasing across various industries, ranging from healthcare, education, finance, and many others. Businesses can access on-demand computing resources, storage, and applications hosted on a remote server, without having to maintain and manage their own cloud infrastructure. This further allows companies to focus on their core competencies and improve their overall efficiency.

One of the significant benefits of cloud computing is its flexibility. Companies can scale up or down their computing resources as per their business requirements. This further makes it easier for businesses to adapt to market changes and stay agile. Additionally, cloud computing offers cost savings, as companies don’t need to invest in expensive hardware or software to host their applications.

The adoption of cloud computing has also led to increased security measures, ensuring that sensitive data is protected from unauthorized access. Cloud service providers offer various security features, including encryption, multi-factor authentication, and access controls, to ensure that data is secure and protected.

Additionally, cloud computing has become a vital technology for businesses of all sizes. The adoption of cloud computing has resulted in increased flexibility, scalability, and cost savings, making it an ideal choice for businesses looking to improve their overall efficiency and stay competitive in the market.  

Cloud hosting/computing statistics by industry: Which industries use Cloud services the most? 

• Cloud services usage across industries varies significantly, with some industries relying on cloud computing more than others. (source: CloudZero) 
• According to the Cloud Native Computing Foundation (CNCF), cloud-native development is also becoming increasingly popular among tech companies. 
• Sensitive health records account for a significant portion (23.2%) of data stored in the cloud, as reported by the SANS Institute. 
• IBM states that a considerable majority of insurers (81%) use cloud-based technology to facilitate claims management. 

Statistics about factors limiting Cloud services adoption 

• According to Flexera, the primary obstacle to cloud services adoption is the management of costs. 
• Fortnet reports that a significant impediment to cloud services adoption is a lack of visibility. 
• PwC states that integration problems result in governance challenges. 
• OpenView Venture Capital claims that SaaS businesses are shifting away from substantial discounts. 

What is the top cloud hosting/computing initiatives in 2024? 

• According to Datadog, the use of serverless technology is becoming more common among organizations. 
• Flexera has reported that 60% of organizations plan to optimize their cloud usage. 
• Organizations are increasingly using cloud computing, as found by PwC, to help achieve their ESG (Environmental, Social, and Governance) goals. 
• As per Research and Markets, the remote desktop market may exceed $4 billion within the next three years. 
• IDC has predicted that edge computing will become a market worth $251 billion. 
• Green computing has seen a rise in popularity, as reported by GEC. 

Conclusion 

Cloud computing is a technology that allows users to access computing resources over the internet, providing a flexible, scalable, and cost-effective solution for storing and processing large amounts of data. By 2025, the global cloud computing market is also expected to be worth $168.6 billion, and 200 zettabytes of data will be stored in the cloud. 

Cloud computing offers several benefits for businesses, including increased agility, scalability, and cost savings. It allows companies to focus on their core competencies and improve their overall efficiency. The adoption of cloud computing has also resulted in increased flexibility, scalability, and cost savings, making it a vital technology for businesses of all sizes.

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