The cloud mining sector is poised to reshape the global marketplace for both mining equipment and software.
According to research firm Gartner, the cloud computing industry is expected to generate a combined $100 billion in revenue by 2020, up from just $13 billion in 2019.
And that growth is projected to continue as the cloud economy continues to grow and technology evolves.
“The cloud computing revolution has changed everything from what people want and how they do business,” said Paul M. Wiegert, managing director at Gartners.
“It is also changing the way the internet works, as well as what enterprises can do with the information they generate.
And it will have far-reaching impacts for industries that use the internet to make decisions and communicate.”
In its latest annual report, Gartgers said that cloud computing is projected by 2020 to create $200 billion in business, up $30 billion from the previous year.
And while the cloud industry is projected at $50 billion in 2020, the number of jobs is expected rise to $100 BILLION by 2020.
Cloud computing has been on a meteoric rise in recent years.
In 2018, Google announced that it had reached a cloud-computing deal with Oracle.
The cloud-based data center giant is now providing cloud computing services to businesses worldwide.
And as of March 2019, more than 4 million companies use cloud computing platforms.
In 2019, Oracle’s Cloud Services business division saw a 35 percent increase in revenue, and Microsoft’s Azure business division increased revenue by 50 percent, according to Garters.
“We are seeing cloud computing be an increasingly attractive option to companies, as it allows for faster, easier access to their data and faster data processing,” WiegERT said.
“This allows them to do more with less.”
Cloud computing offers companies a better way to store and access data, which is why it’s gaining in popularity in the United States.
According the American Data Association, there are currently more than 30,000 cloud companies operating in the U.S., with more than 7,500 in the top 10 cloud companies.
“Cloud computing is the next big thing in business intelligence,” said David S. Anderson, vice president of strategy and product at the American Business Intelligence Association.
“And if you’re in a cloud world, you can leverage your analytics, your analytics platform and your analytics analytics engine to solve real-time problems and deliver data faster and more effectively.”
Companies are also seeing an uptick in interest in the cloud, as the demand for data storage and processing has increased.
For example, Gigaom reported in March that the number and size of corporate storage centers increased by 50% from the first quarter of 2018 to the second quarter of 2019.
And while companies may not be using the cloud to store massive amounts of data, cloud storage offers companies access to a vast amount of data for their business.
The data can be accessed by any business, including governments, social media sites, and corporations themselves.
“For some organizations, the value of their data is just too great, and the opportunity is too great,” Anderson said.
In addition to storing large amounts of information, cloud computing can also help companies process their data faster.
Gartors research showed that cloud storage platforms are seeing an increase in adoption, as more businesses are beginning to use cloud-enabled applications to process their information.
And because cloud computing applications can be customized to work with specific data types, companies can now quickly access and analyze their data.
In terms of cloud computing, Anderson said that businesses that can leverage cloud computing to process data are finding that cloud technology offers a “great cost-efficient solution.”
For example, Amazon and Microsoft, which offer cloud computing software, have recently released new versions of their services to use as a basis for cloud computing.
According and Microsoft cloud computing service, Cloud Functions, developers can create applications that can handle the tasks required by large organizations and also store data.
Gartners’ M.P. Anderson believes cloud computing has the potential to transform industries as we know them.
“Companies that are already doing a lot of business with the cloud have a lot to offer to businesses,” Anderson added.
“For example: Businesses can now access large amounts and data quickly and efficiently.
Cloud computing offers a great cost-effective solution.”
If you’re interested in learning more about cloud computing and the companies that are using it, visit the Gartener website.