70% of all technology infrastructure will be cloud-based within two to three years.

The cloud is quickly replacing on-site storage as the IT industry develops. Beyond cost and scalability, the advantages of cloud computing also include more innovation, quicker time to market, better insights, and improved cybersecurity for businesses.

According to a recent global cloud services study, 70% of all technology infrastructure will be cloud-based within two to three years.

The study revealed that post-migration reduction in technology infrastructure costs was around 12%. But the most significant benefits of cloud computing were seen in other areas. Companies experienced a 36% increase in developer time devoted to innovation, a 45% reduction in time to market for new product features and functionality, a 53% reduction in the time to achieve actionable insights from data, a total of 44% fewer security and other critical infrastructure incidents, and a 52% average reduction in downtime.

The top-performing companies in the study saw even more dramatic benefits, with a 37% reduction in technology infrastructure costs (more than three times what typical companies achieved) and an average of 15 percentage points greater improvement across nearly a dozen objectives tracked in the study.

The benefits of cloud computing extend beyond cost savings and into areas such as innovation, speed, and security. With more and more companies adopting cloud technology, it is becoming increasingly clear that it is not just a trend, but the future of technology infrastructure.

The benefits are clear, and the time to migrate is now. With cloud computing, companies can unlock a world of possibilities, driving innovation, increasing speed, and enhancing security. So, it's time to jump on board and embrace the cloud.

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