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Seven Trends in Cloud Computing That Will Hit Big in 2024

Moving into the new year, business leaders are assessing their current position against their future goals and determining how best to progress in the short and long term. As we have covered in past articles, the cloud offers operational and IT savings, scalability, and flexibility that can act as a catalyst for business innovation and growth. But for organizations to leverage the cloud to achieve their overarching objectives, it’s imperative to understand the emerging trends in cloud computing that will take shape throughout 2024.

The Top Seven Cloud Computing Trends of 2024

1. Cloud Service Providers Are Specializing

In many ways, the cloud has reached a saturation point with current technology in terms of incremental improvements in storage, computing power, and API management.1 This, in turn, is causing providers to focus on innovations in specific verticals. For example, RingCentral is investing heavily in unified communications as a service (UCaaS) innovations, and other providers are creating storage systems, security, and governance solutions for specific industries such as banking, financial services, and manufacturing. If you have IT challenges that are specific to your vertical, make sure you reach out to an industry expert who can help you identify a tailored solution.

2. FinOps Are Becoming Essential

Due to the decentralized nature of the cloud, costs can be challenging to predict with certainty. Short for “financial operations,” FinOps is a management framework where cross-functional teams from finance, IT, and DevOps collaborate to optimize an organization’s cloud computing infrastructure and costs.2  While cloud adoption often leads to cost savings, FinOps can also identify opportunities for cloud repatriation to on-premise solutions, ensuring workloads are placed where they best serve business objectives. Additionally, FinOps uncovers both hard cost savings and soft cost savings, providing value beyond immediate financial gains.

3. Multicloud and Hybrid Cloud Adoption Grows

Many organizations have adopted a multi-cloud approach, utilizing services from multiple cloud providers to benefit from cost advantages and flexibility. In 2024, multicloud and hybrid cloud strategies will gain further traction in part due to price increases and cloud service specialization. As we cover in Advanced Considerations for Moving Communications to the Cloud, hybrid cloud solutions can be the sweet spot for many organizations, particularly with specialized compliance needs and security concerns.

4. Artificial Intelligence (AI) as-a-Service Offers New Possibilities

As we have covered through the lenses of business communications and the customer experience, AI can provide transformative benefits to businesses and customers alike. Naturally, many organizations would love to develop their own AI tools, but very few have the funding to access the vast amounts of data and computational processing power required to develop a large language model (LLM) like ChatGPT.3 AI as-a-service providers are beginning to hit their stride to fill this void, enabling organizations to leverage world-class AI-building infrastructure via a monthly subscription.

5. Cloud Costs Are Rising

The cloud is certainly evolving in many exciting and advantageous ways in 2024. But it’s important to get the bad news out of the way first—the costs of the cloud have been rising and are set to continue doing so. In fact, prices have been growing by 0.2% per month since September of 2022, and many predict a 3.2% price increase in 2024 for hosting, data processing, and other core cloud computing services.4 

It’s important to view the other trends in this article through the lens of rising costs for a key reason. If you have been interested in transitioning to the cloud, continuing to wait may make the move more expensive. Acting now, especially with the help of a partner who can help you negotiate favorable rates with many cloud service providers, could potentially lock in lower prices that add up to major savings over time.

6. Cloud Security and Resilience Becomes Even More Important

If cybersecurity is not a priority at your organization, please read this article as soon as possible. It really should be! And as cyber threats continue to evolve and escalate, and cloud adoption becomes increasingly ubiquitous, cloud security must become an organizational focus. Luckily, the hardening of cloud security is a significant trend for 2024. Here are a few highlights:  

  • Cybersecurity-as-a-service: where an expert group acts as a single-source cybersecurity solution for clients 
  • Zero trust architecture: no user or device is inherently trusted
  • Secure Access Service Edge (SASE): cloud-based security framework that consolidates multiple tools into a unified solution, thus making them easier to control and protect 
  • Machine learning and AI-powered cloud security solutions: detect threats quickly and respond to them automatically
6. Cloud Security and Resilience Becomes Even More Important

If cybersecurity is not a priority at your organization, please read this article as soon as possible. It really should be! And as cyber threats continue to evolve and escalate, and cloud adoption becomes increasingly ubiquitous, cloud security must become an organizational focus. Luckily, the hardening of cloud security is a significant trend for 2024. Here are a few highlights:  

  • Cybersecurity-as-a-service: where an expert group acts as a single-source cybersecurity solution for clients 
  • Zero trust architecture: no user or device is inherently trusted
  • Secure Access Service Edge (SASE): cloud-based security framework that consolidates multiple tools into a unified solution, thus making them easier to control and protect 
  • Machine learning and AI-powered cloud security solutions: detect threats quickly and respond to them automatically
7. Disaster Recovery Becomes More Reliable and Accessible

With the increasing frequency and severity of natural disasters and cyber threats, disaster recovery remains a top business priority. Cloud-based Disaster Recovery as a Service (DRaaS) solutions, continuous data protection (CDP), and AI/ML-driven automation are key trends in disaster recovery for 2024. These technologies enable businesses to enhance their disaster response capabilities, predict and mitigate risks, and recover critical systems and data if the worst occurs.

1 https://www.forbes.com/sites/bernardmarr/2023/10/09/the-10-biggest-cloud-computing-trends-in-2024-everyone-must-be-ready-for-now/?sh=599d52dc66d6
2 https://www.intel.com/content/www/us/en/cloud-computing/finops.html#:~:text=In%20an%20October%202021%20FinOps,data%2Ddriven%20spending%20decisions.%E2%80%9D
3 https://www.forbes.com/sites/bernardmarr/2023/10/09/the-10-biggest-cloud-computing-trends-in-2024-everyone-must-be-ready-for-now/?sh=599d52dc66d6
4 https://www.techtarget.com/searchcio/news/366552153/Cloud-pricing-hits-new-mark-amid-multiple-drivers#:~:text=Cloud%20costs%20continue%20to%20rise,patterns%20contribute%20to%20the%20trend.&text=That%20cloud%20costs%20are%20going,make%20for%20a%20complex%20analysis.

Make 2024 a Year of Innovation and Growth

As the cloud is a major driver of innovation and business opportunities, you can uncover serious competitive advantages by getting the most out of cloud computing. At IPC Tech, we have been helping our customers stay ahead of the trends in cloud computing and many other facets of IT. In terms of cybersecurity, we have helped many customers manage their cybersecurity needs as a single-source solution provider. In terms of cloud services, we have helped create cloud infrastructure for many customers (public, private, and hybrid) that is both tailored to their current needs and designed to evolve into the future. 

But as we pointed out when describing the rising costs of the cloud, and the increasing threats of cybersecurity, waiting to act on implementing or improving your own cloud solutions could lead to higher costs and risk. If you want to drive innovation, improve efficiency, and enhance cybersecurity, contact us today.