According to a report, global business expenditures on cloud services will exceed one trillion dollars by 2028 and 1.6 trillion dollars by 2030. This rapid surge is fueled by many factors, such as the need for digital transformation and the growing adoption of big data analytics and AI technologies. The pace of change is extraordinary, and keeping up with these cloud service trends is inevitable. 

At Smart IS, we keep up with the latest developments and help businesses around the globe adopt the latest cloud technologies to improve their efficiency, performance, and security. In this blog, we will explore the top five cloud services trends to watch in 2024 that are shaping the future of cloud technology and driving significant impacts for businesses and individuals globally. 

AI As a Service (AIaaS)

One recent trend that we have seen in Cloud Services Trends is AI-as-a-Service. AI as a service is taking the tech world by storm by putting AI into everyone’s hands. In recent years, we have seen significant growth in AI-integrated services, such as LLMs and generative AI, with notables like ChatGPT, Gemini, and . Cloud infrastructure plays a vital role in unlocking AI's economic and social benefits for businesses. 

Major cloud service providers such as Google, Amazon, and Microsoft are heavily investing in their AI capabilities. The platforms AWS SageMaker, and Google Vertex AI are powerful tools and are top among them, making machine learning accessible to developers and data scientists. 

However, training AI models demands extensive data and substantial computing resources. AI as a Service offers several key advantages, such as pre-built models, APIs hosted on clouds, and other tools enabling businesses to easily integrate AI capabilities into their applications without building the underlying AI infrastructure from scratch.

Hybrid and Multi-Cloud Strategies

Hybrid and Multi-Cloud Strategies are also becoming popular among enterprises. According to a report by Oracle, 76% of companies are now adopting multi-cloud and hybrid-cloud approaches. The hybrid multi-cloud strategy involves using public cloud services from several different providers, allowing for seamless portability across various cloud infrastructures. 

Hybrid cloud solutions combine on-site infrastructure with cloud services to provide a balance of security and flexibility for companies. This approach allows enterprises to keep data on-site while utilizing cloud services when it is beneficial. Apart from that, hybrid cloud solutions also offer enhanced control over the IT infrastructure and security compared to the traditional cloud options.

Edge Computing

Edge computing is also among the cloud services trends that are making a significant impact in sectors like manufacturing. While the cloud offers unmatched flexibility and scalability, there can be situations where processing data closer to its source is essential. This is where edge computing comes in. It improves cloud performance by allowing data to be processed and stored at the edge of the network, like on IoT devices or local data centers, instead of relying only on centralized cloud servers.  

This allows us to reduce latency and conserve bandwidth, making it particularly suitable for applications in industries such as IoT, AI, and autonomous vehicles. In 2024, industries are moving towards edge cloud integration for enhanced operational efficiency and new use cases, such as real-time monitoring and predictive maintenance in manufacturing. 

Also Read: Understanding Cloud-Based Warehouse Management System (WMS)

Serverless Computing

With serverless technology, you no longer need to concern yourself with the management or maintenance of servers. The serverless computing market is another trend that is expected to achieve a healthy compound annual growth rate (CAGR) of over 23.17% from 2023 to 2028.  

Serverless computing offers a cost-efficient, scalable, and streamlined application deployment approach. It allows the developer to run the code without managing the underlying infrastructure and solely focus on building and deploying. Serverless platforms such as AWS Lambda, Azure Functions, and Google Cloud Functions have been widely adopted in various industries. 

Sustainability and Green Computing

The information and communication technology sector causes approximately 1.8% to 3.9% of global greenhouse gas emissions, driving the need for sustainable cloud computing services. Green and sustainable cloud services are increasingly adopted by big tech companies like Google, Microsoft, and Amazon. 

Organizations are aiming to align with global sustainability objectives following these cloud services trends. As a result, sustainable cloud computing is bound to become an essential element of responsible IT infrastructure. These eco-friendly practices help reduce environmental impact and appeal to environmentally conscious customers and stakeholders. 

Conclusion

As 2024 unfolds, key cloud services trends such as multi-cloud strategies, edge computing, AI integration, and sustainable practices are shaping the cloud computing landscape. At Smart IS, we support businesses in adapting to the evolving environment and maximizing cloud innovation benefits through our expertise in cloud services such as migration, managed services, and platform configuration. 

Ready to future-proof your cloud strategy? Contact us today to learn how Smart IS can help.