Global organizations data move to public cloud 2024

The migration of data to public cloud services continues to evolve, with varying approaches across different data types. A 2024 survey reveals that 37 percent of organizations plan to move all their nonsensitive analytics data to cloud or software as a service (SaaS) platforms. However, sensitive information like corporate financial data remains more firmly rooted on-premises, with 20 percent of organizations keeping it entirely local.

Cloud service market growth

The cloud services market is experiencing significant expansion, particularly in infrastructure as a service (IaaS). Forecasts indicate a 33 percent growth in IaaS for 2024 compared to 2022, outpacing the overall public cloud services market's expected 20 percent growth. This trend is reflected in the robust performance of major tech companies, with Microsoft leading the pack as the top SaaS company by market capitalization at 3 trillion U.S. dollars in May 2024.

Enterprise cloud adoption strategies

Organizations are increasingly focused on optimizing their cloud usage, with 60 percent of respondents in 2024 prioritizing cost savings in their cloud initiatives. Simultaneously, 58 percent are committed to migrating more workloads to the cloud, indicating a continued shift towards cloud-based operations. This strategic approach aligns with the diverse cloud adoption patterns observed across different data types, as companies balance the benefits of cloud services with the need for data security and compliance.