What is Cloud Computing?

According to a research by Synergy Research Group, $74 billion was spent on Cloud infrastructure in the last quarter of 2023. Did you know that?

That's an increase of $12 billion (or 20%) over the last quarter of 2022, which is the largest increase in Cloud technology spending, till now!

This is just one of the statistics that show the growing importance of Cloud Computing for an organization.


 But what is Cloud Computing? 

Cloud Computing is access to computer services, such as:

  • Servers
  • Warehouse and Storage space
  • Databases
  • Software


These are hosted on the Internet (or "Cloud") and offer innovation, flexibility and economies of scale.

It’s simple; Cloud is important because: instead of investing in building its own infrastructure, such as data centers, a company can "rent" access to applications and warehouses from a provider.

After all, think of how many times you've stored large volumes of files and data on a service like AWS. You don't need to have your own servers and data centres to store these files, but a provider company (such as Amazon), to which you pay a fee in return.


 Cloud Computing dynamics in numbers

As we mentioned at the beginning, the global rise of Cloud Computing in usage by individuals and companies is clear.

Specifically in our continent, 42.5% of companies in the EU purchased Cloud services in 2023, a 4.2% increase over 2021!

Cloud Computing can be used for a wide variety of purposes that serve a company's ICT needs, such as: 

  • File storage (68% of EU companies)
  • Office software (66.3% of EU companies)
  • Security software (61% of EU companies)



 The benefits of Cloud Computing in business development

Moreover, the “blooming” adoption of Cloud Computing indicates not just a clear shift in infrastructure management, but a fundamental transformation in how businesses operate and innovate. As organizations embrace the Cloud, they find themselves empowered to expedite time-to-market, enhance collaboration, and foster agility in response to dynamic market demands. 

Furthermore, the integration of emerging technologies such as artificial intelligence (AI) and machine learning (ML) within Cloud ecosystems promises to unlock unprecedented avenues for data-driven insights and predictive analytics. Indeed, as Cloud Computing evolves from a mere utility to a strategic enabler of digital transformation, businesses stand poised to harness its transformative potential to drive sustained growth and competitive advantage in the ever-evolving marketplace.


 Cloud Computing in Greece

In Greece, the adoption of Cloud Computing is gaining momentum, with a growing number of companies harnessing its transformative power to drive efficiency and innovation. For instance, Greek telecommunications giant OTE Group has embraced Cloud solutions to modernize its infrastructure, enhance scalability, and deliver seamless digital experiences to customers. Additionally, startups like Workable, a leading recruitment software provider based in Athens, leverage Cloud platforms to streamline hiring processes and expand their global footprint. 

Moreover, initiatives such as the Greek Government's Digital Transformation Strategy aim to accelerate Cloud adoption across public sector entities, fostering collaboration, data-driven decision-making, and citizen-centric services. As Greek businesses continue to embrace Cloud Computing, the nation stands poised to harness its potential for economic growth, digital resilience, and global competitiveness in the digital age.

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