Top 8 Cloud Computing Trends To Look For in 2024

Did you know that worldwide spending on cloud computing infrastructure is expected to exceed $1 trillion for the first time in 2024? It is a staggering number! And it's not just large companies moving towards it; small organizations are actively embracing this transformative shift, too. So, what are key technologies and emerging trends driving this substantial investment in cloud infrastructure, and how is this transformation shaping the future of businesses worldwide?

The answer to these questions came to me when I recently met 20 cloud C-suite executives at the KubeCon + CloudNativeCon North America 2023 event. These interactions gave me some insightful information about cloud tech predictions for next year. And that's what I'm going to share with you today.

 In this blog, you'll learn:

• How AI is impacting the cloud infrastructure
• Top 8 tech predictions to look for 2024
• How cloud computing will the segmentation landscape fare over the next five years

 Let's get started!

Top 8 Trends To Watch in Cloud Computing

The following year is exciting, challenging, and demanding for businesses, especially in the cloud computing industry. In this era of byte-sized brilliance, we're on the cusp of witnessing a dazzling array of innovations that will redefine how we interact with and harness the power of our digital troves. Before making much more hype, let's go into critical technologies that will be the future of the cloud. 

1. AI as a Service 

AI is disrupting the technology landscape across almost every industry worldwide, and the cloud will play a pivotal role in making AI available to businesses worldwide. Gen AI models, like ChatGPT, are trained and managed on huge amounts of data and require significant computing power. Most organizations need more resources to do this themselves. So, AI-as-a-service through cloud platforms will empower such organizations to leverage this transformative technology in the upcoming years.

2. Hybrid and Multi-Cloud Strategies

Organizations with a multi-cloud and hybrid strategy are expected to increase next year. In fact, as per a recent Gartner survey, around 81% of organizations said that they are working with two or more providers. It offers excellent flexibility and cost advantages but adds complexity to legacy integrations and data governance. Hybrid and multi-cloud are next-gen infrastructure solutions expected to gain significant traction in the coming years as organizations seek to balance security and flexibility. 

3. Edge Computing

Although edge computing is not a relatively new concept, organizations worldwide are increasingly adopting it. The global edge computing market size is expected to grow by USD 111.3 billion by 2028, recording a CAGR of 15.7%. Cloud providers are shifting to the edge to mainly respond to the growth of next-gen technologies like 5G, Internet of Things (IoT) devices, and latency-sensitive applications. Edge computing also allows systems to become distributed, bringing data and processing closer to users. This approach significantly reduces latency, decreases bandwidth cost, and improves connection performance. 

4. Quantum Computing

Quantum computing is expected to gain significant traction due to its ability to run complex data processing algorithms. It uses the learnings of quantum physics and offers significantly improved data-handling capacity to process vast amounts of data in a shorter time. It enables data storage in qubit form, which is a much simpler form of data. Besides, it is one of the cost-effective cloud computing trends.

5. Serverless Computing

Serverless computing is expected to witness significant growth of 23.17% CAGR over 2023-2028. This new trend facilitates new ways of building or running software applications and services without having to manage the infrastructure itself. It allows users to write and deploy code without worrying about the underlying infrastructure. This results in a number of benefits to developers, including faster time-to-market, scalability, and lower expenses for the deployment of new services.  

6. Green Computing

The adoption of green computing, also referred to as green IT or sustainable IT, is anticipated to grow significantly in the coming years. This is driven by the awareness that approximately 1.8% to 3.9% of global greenhouse gas emissions originate from the global information and communication technology (ICT) sector. Green computing involves environmentally conscious practices throughout the lifecycle of computers, chips, and other technology components, from design and manufacture to use and disposal. The goal is to minimize the adverse impact on the environment by reducing carbon emissions and energy consumption across the entire spectrum, including manufacturers, data centers, and end-users. Furthermore, green computing extends to the selection of sustainably sourced raw materials, the reduction of electronic waste, and the promotion of sustainability through the utilization of renewable resources.

7. No-Code/Low-Code Cloud Solutions 

Gone are the days when users had to write extensive lines of code and possess in-depth technical knowledge to create applications and address real-world problems. Nowadays, businesses can use low-code and no-code cloud solutions to build applications and leverage AI and its subdomains. These solutions allow the development of websites, apps, services, and more without requiring any technical expertise. This not only reduces the time and cost of creating solutions but also speeds up product development while minimizing errors. Tools like Figma and Zoho empower users to design and develop websites, apps, and services without the need for computing infrastructure or coding skills.

8. Increasing Focus On Kubernetes and Docker

Kubernetes and Docker stand out as dynamic technologies in the ever-changing landscape of cloud computing. These open-source platforms efficiently manage services and workloads from a centralized location, running applications seamlessly from a unified source. Their scalability and effectiveness make them crucial for large-scale deployments. With the growing reliance on cloud computing services, Kubernetes and Docker play a pivotal role in overseeing the cloud deployments of both individual users and organizations.

Conclusion

Following discussions with 20 C-suite executives in the cloud industry, I've gathered insights into pivotal technologies and trends poised to reshape the cloud landscape in the upcoming years.  The trends highlighted in the article preview an exhilarating and transformative phase in cloud computing, aiming to enhance technology efficiency, cost-effectiveness, and accessibility for both enterprises and end-users. Keep an eye out for our cloud article's next edition; I look forward to connecting with you soon.