Cloud computing powers most of the digital services you use today. Listen to this podcast episode to learn what it is and why it matters.
Learning notes from this episode:
The cloud computing is expecting huge growth: the total cloud computing market is estimated to be reach $1,614 by 2030 from $545 billion in 2022, according to Precedence Research. Before the advent of cloud computing, technology companies would have had to have their own servers to store data and run computations. Having your own servers is very expensive because you have to pay to keep them secure keep them cool keep them running 24 /7 and pay high electricity costs have a space to keep them maintain them with the help of a specialist Cloud computing means that companies do not have to buy and maintain their own servers. Instead, they can just rent space on another company's servers. You can just pay for what you use and expand as you grow.
This is a picture of servers ran by a cloud computing company. Before cloud computing, businesses would have had to have own these things and maintain them at their own premises - a huge cost and a headache.
Amazon launched cloud computing as a service in 2006, and remains the biggest player in the market today. It counts Netflix, Disney, the UK Ministry of Justice, Kellogs, Guardian News and Media, and the European Space Agency as its customers. Cloud computing is relevant to every industry: if you are storing data and using it to make decisions, you need to know about cloud computing. The advent of cloud computing drove down the risk of innovation and spurred the creation of start-ups and the VCs funding them. Without cloud computing digital innovation was only available to those who could pay and maintain servers. The three biggest players in the cloud computing market are: Microsoft Azure, Google Cloud and IBM Cloud.
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