Businesses worldwide are expected to spend more than $1 trillion on cloud computing infrastructure in 2024, a first. This will be driven by a growing need for new platforms and as-a-service offerings, such as artificial intelligence (AI) services.
This is because, in 2024, businesses are looking beyond the cost- and time-saving benefits of cloud migration. Emerging application cases from all industries demonstrate that it can frequently be the key to being more innovative, agile, and successful.
Numerous enterprises will continue to face noteworthy obstacles, frequently centered around matters related to data security and protection. However, new models that aim to provide the best of both worlds, such as hybrid cloud and federated cloud systems, will continue to tear down barriers.
In 2024, the cloud will be a dynamic and exciting source of innovation and opportunity. Here’s an outline of the most important trends in this sector.
- AI As A Service
Cloud infrastructure plays an important role in making AI accessible to the general public, as well as the economic and social benefits that it is predicted to generate. AI models, such as the large language model (LLM) that powers ChatGPT, are trained on massive amounts of data and require enormous computing power. Most organizations cannot do this on their own, but by accessing AI-as-a-service via cloud platforms, they can exploit this powerful, disruptive technology.
- Hybrid and Multi-Cloud
It is anticipated that by 2024, the proportion of major enterprises implementing a multi-cloud strategy—that is, purchasing cloud services from multiple providers—will increase from 76% to 85%. It provides cost and flexibility benefits but complicates data governance and interoperability with legacy systems. Multi and hybrid cloud (cloud combined with on-premises infrastructure) are advanced infrastructure solutions that will gain appeal as enterprises attempt to balance security and flexibility while picking and choosing the services they require.
- Real-time Cloud Infrastructure
Cloud computing
Organizations will increasingly seek to use real-time data to gain up-to-date insights rather than acting on outdated, stale information in 2024. Simultaneously, an increasing amount of the data we consume will be streamed – movies and music from Netflix and Spotify, video data from Zoom or Teams calls, and new types of streamed entertainment such as cloud gaming. This means that data storage that prioritizes quick access, such as Flash and solid-state storage devices, will become increasingly popular among cloud users.
- Cloud-Driven Innovation and Transformation
In addition to the aforementioned AI, cloud computing technology can serve as a doorway to many other transformational technologies, including the Internet of Things (IoT), blockchain, and quantum computing. Because cloud computing eliminates the need to invest directly in architecture and infrastructure, organizations can undertake quick-win/fail-fast programs to test the benefits of developing technologies with greater ease than ever before in 2024.
- Cloud Security and Resilience
Three cloud computing service features—encryption, authentication, and disaster recovery—will see a rise in demand as we prepare for the changing threat landscape of 2024. Data thefts and breaches are becoming more common and severe as hackers create new AI-powered attack methods, and any system that requires human interaction is always vulnerable to social engineering attacks. This means that all cloud providers and customers prioritize security and resiliency.
- Sustainable Cloud Computing
The major cloud service providers have all announced net-zero commitments, not only for their operations but also to assist customers who utilize their services in reducing their carbon footprint. Amazon has vowed to reach zero emissions by 2040, while Microsoft hopes to surpass that by ten years. Along with Google, they have all expressed their ambition to generate 100% of their energy from renewable sources. It remains to be seen whether they succeed, but in 2024, there will be a major push for greener and less environmentally damaging cloud computing.
- Simplified cloud computing
Low-code/no-code solutions now allow non-technical persons to construct apps that used to require trained software engineers. Similarly, cloud providers are employing drag-and-drop interfaces and natural language technologies to minimize the need for extensive technical knowledge and “democratize” cloud service and infrastructure setup.
- Privacy In The Cloud
Cloud privacy involves developing technological, legal, and legislative solutions to protect consumer data while allowing enterprises to use cloud services. When a business uses a cloud service, it typically sends data to a third party, usually the cloud service provider. Managing the privacy implications of this will remain a key theme in cloud computing in 2024.
- Serverless and Pay-as-You-Go Cloud
Serverless is a type of cloud computing solution that eliminates the need for enterprises to run their servers. While a normal cloud provider may charge a business for the number of servers on which to host their infrastructure, a serverless approach requires the firm to only pay for the resources it uses directly. This increases efficiency by reducing the need to pay for servers even when they are not in use, freeing up the company’s time to focus on its core operations.
- Bringing Edge Computing to Everywhere
Edge computing is a cloud-related paradigm in which information is processed as close as feasible to the point of collection. For example, a wearable real-time heart monitor designed to detect arrhythmias. Because the majority of the data it collects is “normal” cardiac beats, sending it all to the cloud for analysis and then back to the user to confirm everything is fine would be a waste of bandwidth. Analyzing the data on the device eliminates this cost while also allowing the user to be notified more immediately if unusual data is identified. In 2024, smaller, more power-efficient CPUs, memory-efficient algorithms, and sophisticated networks such as 5G will all contribute to the edge being more viable for a growing variety of applications.
