Cloud Computing Exceeding Expectations; Enters Uncharted Territory

With a projected growth rate of 17.3 percent, the cloud computing industry is expected to be worth USD 206 billion at the end of 2019, compared to the USD 175.8 billion at the end of 2018.

FREMONT, CA: Cloud computing, over the last few years, has grown to become the catchword in any form of business. Who would have thought that changing the way we store data would have such a massive impact on the way we do business. Cloud computing provides exciting new opportunities for companies to expand and grow on a global scale. By providing secure access to your data anywhere, anytime, cloud computing has established itself from startups to well-established organizations.

With a projected growth rate of 17.3 per cent, the cloud computing industry is expected to be worth USD 206 billion at the end of 2019, compared to the USD 175.8 billion at the end of 2018. The top five players in the industry alone accounted for 76.8 per cent of the total market share in 2018. With more and more players entering the market each day, the cloud computing industry is only expected to grow further. Meanwhile, existing cloud service providers continue to battle out for supremacy in the cloud computing market.

Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

The Big Three

Amazon Web Services, a subsidiary of Amazon, remains the most massive cloud computing company with nearly 33 percent of the market share, while Microsoft's Azure comes in second with 15 percent share. The Google Cloud Platform is also not far behind with 8 percent of market share in hand.

In the first half of 2019, Amazon Web Services recorded net sales worth USD 16 billion, which is a 39 percent increase from where they were in 2018. Despite Amazon's market dominance, the growth rates achieved by Microsoft and Google were found to be much higher, 75 percent, and 83 percent, respectively.

Check Out: Top Cloud Solution Companies In Europe

Artificial Intelligence in Medical Data

Cloud Computing has also made its way into the medical field with hospitals striking tie-ups with different cloud computing companies. Once again the Big Three, Amazon Web Services, Azure and Google Cloud Platform, continue to be the top contenders for the same. Providence-based St. Joseph Health reached a data storage agreement with Microsoft's Azure, while Cerner Corp., one of the world's largest electronic health records company struck a partnership with Amazon Web Services. Mayo Clinic in Rochester struck an accord with Google Cloud Platform for data storage.

The conversion of Patient records from hard paper to computers ended up consuming large inventory spaces for significant hospitals. With Cloud storage facilities, hospitals can not only save up on space but harvest a bunch of other benefits as well. The data analytics services provided by these cloud computing services help to analyze and observe patterns among patient records, which will result in improved speed or accuracy of tests that screen for the diseases. Partnerships between health services and tech companies will boost the use of data analytics and machine learning, which will improve clinical diagnosis and disease prediction.

Deep Space

Jeff Bezos owned Amazon Web Services is also the front runner in data storage for the deep space missions. The AWS Ground Stations provide a complete communication network for space scientists to control satellite communications, uplink, downlink, process satellite data, and scale satellite operations. Currently, AWS Ground Stations offer network systems for connection to Lower Earth Orbit and Medium Earth Orbit satellites. At the same time, the machine learning capabilities of AWS is also assisting companies in democratizing their space data. Capella Space, D-Orbit, Maxar Technologies, and NSLComm are few of the clients already using AWS Ground Stations.