Cloud Computing Market Predicted to Hit US$1,266.4 Billion by 2028

Technology is lately changing at a rapid speed. A big part of this change is due to cloud computing. Instead of getting computer services the traditional way, cloud computing delivers them over the internet. It covers everything including servers, storage to databases, networking, software, analytics and intelligence as well. Individuals can access and utilize these services without the burdensome task of paying for and maintaining physical infrastructure.

Experts think the global cloud computing market is going to grow a lot. It is anticipated to grow at a compound annual growth rate (CAGR) of 15.1%. The market is expected to rise up from USD 626.4 billion in 2023 to USD 1,266.4 billion by 2028.

A plethora of things are making the cloud computing industry grow. Lots of different businesses are desperately looking cloud services. Also, using new technologies like edge computing, 5G, big data, artificial intelligence (AI) and machine learning (ML) is pushing the industry forward.

Let us look at what is happening in the cloud computing world. There is a cool trend called hybrid clouds, which mix on-site stuff, private and public clouds. It is like getting the best of both worlds – saving money, being flexible and staying in control and secure.

There is another cool trend and it is cloud-native apps. These apps are made using special cloud ideas like serverless stuff, microservices, containers and DevOps. They make the most of the cloud’s power, giving users’ flexibility, scalability, toughness and the ability to move around easily.

Something new and exciting is further here. It is edge computing. It changes how we do things. Instead of putting all the computer stuff in one place, it brings it closer to where we use it. This makes our data more secure, private and reliable.