By Sneha Bokil - June 01, 2020 3 Mins Read
The digital universe is expanding at a phenomenal rate, and the winners in this race would be the firms with the most futuristic vision
According to IDC, global data will grow 61% compounded annually to 175 zettabytes in the next six years, with a maximum amount of the data residing in the cloud and the data centers.
The rise of 5G and the ensuing boom of connected devices will play a vital role in this data explosion. Self-driving cars are the primary example of the future of transport that will require an enormous amount of data throughput. With humongous amounts of data collated from sensors and cameras, using 5G and the cloud, the future belongs to cloud-based applications.
Saving all the collected data by sources such as IoT sensors delivers the context required for smart decisions and real business transformation. As the enterprises enter the zettabyte era, about hundreds of zettabytes of IoT data alone are going to be generated each year.
Cisco has confirmed that if each terabyte in a zettabyte were as good as a kilometer, one zettabyte would be almost equivalent to 1,300 round trips to the moon and back to the earth. Multiply the number by ten, and start to get an idea of the volume of IoT data.
Additionally, there are a large number of data types being generated, how are businesses managing all of that?
Now, data isn’t merely a byproduct of a business; it is the business itself. Firms across all the industries need to collect, store, manage, and access their data reliably and affordably to compete, and this refers to storing the data in their cloud.
According to LogicMonitor, 83% of enterprise workloads will be shifting to the cloud by 2020. Gartner predicted that by the end of 2021, over 75% of medium and large organizations would have adopted either a hybrid or a multi-cloud IT strategy – which refers to businesses using a mixture of third-party and on-premise clouds.
Data is rising to popularity at such an unbelievable pace that, for most of the companies, it doesn’t make any strategic sense to run their data centers. It makes more sense for these businesses to outsource their data to some specialized cloud storage provider at minimum cost, allowing them to allow their manpower to focus on driving business innovation.
In the next few years, enterprises need to look forward to a more diversified marketplace of interconnected cloud systems, supported by a wide range of vendors with diverse specialties. The whole business ecosystem is expanding so rapidly; cloud services will become increasingly decentralized as customers find the flexibility and freedom they need to master their data efficiently. A multi-cloud world awaits, where businesses can choose the finest individual vendors for the numerous services they need, all coordinating and working seamlessly together.
Sneha Bokil is a Senior Editor with OnDot Media. She writes editorials on an array of topics ranging from IoT, AI, ML, and cloud computing, among others. She has over 9 years of experience in the field of content creation, where she has written on technology, both enterprise and consumer, and finance.
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