Myths in Cloud Computing Hinder Market Growth: Portland SEO's Augusto Beato

The cloud computing market could surpass the $411 billion it is forecasted to grow by 2020 if cloud adoption myths are overcome, according to Augusto Beato, CEO of Portland SEO.

While many businesses have already turned to the cloud, those that have not will likely be persuaded to do so to keep up with their competition. "The cloud computing market has grown significantly although some barriers to entry still exist," said Beato.

Businesses who are migrating their system to the cloud could tap the expertise of Portland SEO through this link.

Beato noted that 80 percent of IT managers are concerned about the performance and scalability of networking fabric in a cloud environment while 70 percent of IT security professionals say it is more difficult to protect sensitive data in cloud computing environments compared to conventional security.

There was also 33 percent of those surveyed who believed that cloud migration is difficult.

Businesses that take advantage of productivity-enhancing cloud services grow 19.6 percent faster than their counterparts, and 57 percent of European enterprises view cloud services as “very important” to digital transformation.

When it comes to the reasons for using cloud technology worldwide, improved availability and resiliency is the top reason followed by improved agility and responsiveness and accelerated product innovation.

Today the global cloud computing market is worth $180 billion in vendor revenues for SaaS, PaaS, and IaaS with the market growing by 24 percent annually. The worldwide public cloud services market is projected to grow 21.4 percent in 2018 to total $186.4 billion for SaaS, PaaS, and IaaS, up from $153.5 billion in 2017, according to Gartner, Inc.

The jump to reach $411 billion by 2020 is significantly more than its previous growth spurts. So far, the market so far growing by 24 percent annually.