With businesses like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud raking in billions of dollars annually, cloud computing has grown to be a significant sector. According to market research firm MarketsandMarkets, the global cloud computing industry had a value of $371.4 billion in 2020 and was expected to grow to $832.1 billion by 2025.
The largest cloud service provider, AWS, brought in $45.4 billion in revenue in 2020, or 12% of Amazon’s overall revenue. In the same year, Google Cloud generated $8.9 billion in sales, compared to Microsoft Azure’s $13.7 billion.
However, not only the major firms profit from the cloud computing sector. The move to the cloud benefits smaller businesses as well. For instance, Rackspace Technology, a provider of cloud services, reported $2.44 billion in revenue for the year 2020.
What is the price of 1TB of cloud storage then? Cloud storage costs vary depending on the provider and location. One terabyte of storage on AWS, for instance, costs $23 per month in the US East region. While Microsoft Azure charges $25 per month for 1TB of storage, Google Cloud charges $20.
When it comes to free cloud storage, Google does provide 15 GB through Google Drive, while Microsoft provides 5 GB through OneDrive. These free solutions, however, are constrained and might not be enough for organizations or people who need to store a lot of data. Since maintaining their own physical infrastructure can be more expensive, many firms are switching to the cloud. Pay-as-you-go cloud services allow companies to only pay for the services they really utilize. Compared to purchasing and maintaining dedicated servers, which might be expensive up front, this may be more economical.
The ideal cloud server to use will rely on the unique requirements of the company or individual. Popular choices include AWS, Microsoft Azure, and Google Cloud, but there are many additional service providers to take into account, like IBM Cloud, Oracle Cloud, and Alibaba Cloud. When selecting a cloud service, things to take into account are cost, security, dependability, and scalability.
In conclusion, the cloud computing sector has grown significantly, with the top providers generating billions of dollars in revenue. With options for both paid and free storage, the price of cloud storage varies by provider. When choosing the finest cloud server for certain needs, there are numerous providers from which to choose. Cloud computing can be a cost-effective alternative for both organizations and individuals.