Off-premises cloud computing services gain traction; are multi-clouds next?

Grazed from IHS. Author: Liz Cruz.

With digitization transforming and disrupting businesses everywhere, there is tremendous pressure to change and adapt, especially for enterprise information technology (IT) departments. A key part of change is the need for greater agility and faster adoption of new technology. Both of these agents drive the off-premises cloud market, while also altering the architecture of on-premises data centers or private clouds to include orchestration for the automatic deployment of workloads. To achieve success, a key takeaway for businesses is to rethink IT, shifting reliance from traditional data-center models to new mechanisms like the cloud.

Growth all around

In assessing just how fast transformation is occurring within the space, one only has to look at the rate of growth projected for the next few years ahead. The market for off-premises cloud services is forecast for solid revenue growth of approximately 30% year-over-year in the near term, with strong expansion to continue through 2021. The market’s increase is due to larger portions of enterprise IT budgets being allocated to off-premises cloud services...

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