In the fast paced business world of today, adoption of the latest technological advances is essential for sustainability and growth. One area of technology that more and more businesses are taking advantage of is the cloud, which allows data to be stored remotely on servers across the world. This remote storage has many advantages for businesses, such as allowing companies to rent hardware instead of purchasing the infrastructure themselves - which can be very costly. Cloud storage also gives companies greater flexibility with their data and information, as it can be accessed anywhere and anytime, which can be especially helpful for businesses that operate in many countries.

In light of the many advantages, a recently released report by CompTIA shows that 90% of businesses use some sort of cloud computing, demonstrating the incredible growth of the cloud industry already. This growth shows no signs of stopping, as spending on cloud services is expected to double in the next four years, reaching an estimated $127 billion. This growth in cloud services will have numerous impacts a wide range of businesses, from Google to small startups. For major technology companies, investment and innovation will be needed in the next few years to establish a lucrative place in the cloud industry. For startups and small businesses, the widespread use of the cloud will allow for greater investment into their core business operations, while still maintaining access to high-end hardware and software.

Another aspect of cloud computing’s growth is its potential impact in developing countries. Businesses in these countries have traditionally struggled in the technology sector, as high startup and infrastructure costs were a major deterrent. Cloud computing could give these countries a chance to change their technological fortunes, and increase their connectivity to developed economies around the world. While there are still many hurdles that these countries would have to pass, a focus on implementing cloud technologies could be a great boost to businesses in the developing world.

The increase in cloud computing will have large effects in the business world as its use and importance grows. The harnessing of cloud computing’s great potential will help to push companies ahead of their competitors, impacting industries and economies across the globe.

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