Will Cloud Cause Another Recession in 10 Years?

Most studies in the past year have all been based on the COVID-19 recession and its effects on certain industries. While all that data is utterly relevant, given that the cloud has proved itself to be the most useful during the past year in all of the two decades that it has existed – it is also important to look at figures that lay ahead of us. Yes, we are only humans and we cannot predict the future but with our analyses skills today, we can surely anticipate the possibility of a recession due to the cloud. The question is, will there really be one?

Covid-19 Recession & Cloud

Let’s become a part of the trend and take a look at the recession caused by Covid along with its impact on the Cloud Industry. According to reports published in the first quarter after the world got hit by COVID, Cloud companies stood at huge growth rates. The growth rates during that time were surprisingly higher than they had ever been in a single quarter. Let’s take a look: AWS finally hit the $10 Billion USD mark for a quarter of revenue. Azure showcased an exceptional growth rate of 59%. Google Cloud, including both GCP and GSuite, showed a growth rate of 52%. While there were other companies too that went on an upward rollercoaster like Red Hat and IBM, the three world-class players of the Cloud industry hit the ground and broke it.

Understandably, AWS was the most used and adapted platform for cloud computing needs. It’s a no-brainer as to why AWS performed the best out of all cloud computing platforms across the world. Like everything else associated with Amazon, the answer is simple for AWS as well. The secret lies in the best kind of customer service. As AWS consulting partners, we fully understand and promote the wide acceptance of AWS as a platform.

Predictions for Five Years from Now

It won’t really come as a surprise to anyone if we anticipated that the entire world will be completely cloud-based in five years, as laymen. However, the reality is not quite that aggressive. That said, the real statistics according to a report published recently are still surprising and will put our minds at ease. According to CloudChekr, about 64% of the current companies across the globe will all be cloud-based in the next five years. That gives rise to a concerning question. With more and more items of action getting automated and the need for human effort decreasing by the minute, it has become a concern whether employment opportunities will be completely wiped out by the time cloud takes over the world as a whole.

Additionally, the costs of implementing a cloud infrastructure have been a major concern for most businesses. Barriers including security concerns (44%), compliance and regulations (42%), and a lack of application support ( 41%). Thankfully, it’s not all bad.

The Bright Side

Let’s talk about the possibility of zero human requirements – technology has undoubtedly taken over our lives and has nonetheless eliminated the need for a great deal of human effort. Lucky for us though, we live in a man-made world most of the time. The silver lining about that tiny fact is that whatever is created by man requires human assistance at some point. In a nutshell, human jobs won’t get completely wiped out. Instead, the roles are changing gradually. The amount of effort required for learning has increased immensely due to the constantly changing technology. However, this simply means that there is a shift in the roles of humans in corporate life. Instead of doing the tedious tasks that humans used to do manually in the industrial age, today, humans are required to implement solutions on the cloud for other people.

It is bound to change during the next ten years. The good news though, is that now we can rest assured that as long as we as humans and our further generations stay open to adapting themselves towards the changing world – we will never be out of the jobs. The jobs may change and their demands may vary but they will never be extinct.

Let’s Talk Money

About the cost impact of cloud infrastructures for most businesses – partnering with an AWS consultancy eliminates huge costs such as the support cost charged by Amazon or the service cost charged by Amazon directly. The two main services needed are implementation and maintenance. While it’s tempting to rely on Amazon directly, it is important to look for alternatives that are more cost-effective and still bring out the same result with the same products. As AWS consulting partners, we offer the best of the best to our clients. Partnering with us eases up on the support costs and the implementations costs for our clients while the only hefty costs they incur are the ones the product itself – that too without compromising on the quality.

Teqfocus, as an AWS partner, is committed to assisting businesses in the deployment of Serverless applications in AWS Cloud and building a larger AWS ecosystem.

If you need assistance reviewing your AWS applications and infrastructure, do feel free to email us at [email protected], and our AWS pioneers would be thrilled to help you out.