Cloud computing services help enterprises improve business efficiency and reduce costs. Moreover, these services offer various advantages, including flexibility, scalability, and agility.
The ecosystem of tech companies helping customers migrate to cloud environments, create new innovations in the cloud, and manage their expanding cloud environments will enable enterprises to meet their accelerated schedules for moving to cloud.
The adoption of cloud services should enable organizations to shift IT from maintenance of legacy IT to new digital transformation initiatives, which can lead to new business revenue and competitiveness as well as create new opportunities for suppliers of professional services.
While technology spending in APAC has increased, the setback due to the recent COVID-19 pandemic is imminent. The cloud technology adoption is expected to increase in sectors where the WFH initiative is helping to sustain enterprise business functions.
Many of the enterprises across verticals have adopted the work from home model to safeguard employee well-being and maintain operational efficiency, surging the demand for Software-as-a-Service (SaaS)-based collaboration solutions.
For instance, Microsoft Team platform users increased to 44 million globally due to the high demand for collaboration solutions.
Cyberattacks damaging business operations and critical data loss : With the increasing volume of data and rising enterprise initiatives toward digital transformation, the number of cyber-attacks is increasing rapidly.
The COVID-19 pandemic has largely proven to be an accelerator of cloud adoption and extension and will continue to drive a faster conversion to cloud-centric IT.
By the end of 2021, based on lessons learned in the pandemic, most enterprises will put a mechanism in place to accelerate their shift to cloud-centric digital infrastructure and application services twice as fast as before the pandemic.
Here, in this report, we discuss the performance of the Cloud Industry and how they have been impacted by the C-19 pandemic :
For details on each of the above company, industry outlook and segment performance please feel free to refer to other reports by CrispIdea.
https://www.crispidea.com/downloads/compendium-of-cloud-industry-performance-q2fy20-has-c-19-accelerated-businesses-to-shift-to-an-everything-as-a-service-xaas-model/
