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The pandemic has accelerated digital transformation at 59% of surveyed organizations, reported the IBM Institute for Business Value, in collaboration with Oxford Economics. Some sources even cite a 6-year acceleration—with huge budget increases to support it and to build the infrastructure it requires: cloud computing.
Cloud computing has become a huge global industry, with 2020 revenues of USD 219 billion, and industry analysts expect those revenues to grow to $791 billion by 2028.
One report even estimated it to be a USD1 trillion-dollar market by 2030. It is by far the biggest investment in “emerging technologies” underway in large enterprises.
Key takeaways
Untapped potential remains 79% of stakeholders in enterprise cloud adoption require comprehensive, advanced cloud capabilities to power their highest priority digital plays. But they have yet to fully realize cloud’s full transformational power.
While 73% of respondents say cloud-driven digitization of products and services is delivering positive, transformational performance improvements—at scale.
Hybrid cloud/multicloud has won the race to become the dominant architecture for cloud service delivery. The percentage of respondents claiming a single public cloud as their primary archetype dropped from 16% in 2019 to 2% in 2021, setting the stage for the next wave of innovation in cloud-driven business transformation.
Better operating model design and development practices are strongly associated with better business performance. 69% of respondents attribute “sustained improvements at enterprise scale” and “material and accelerating improvements at enterprise scale” to their digital/ business/IT operating environment.
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