Enterprise cloud computing challenges 2019-2024

As of 2024, surveyed technical executives, managers, and practitioners of cloud technologies from around the world indicated that the biggest challenges of using cloud computing technology within their organizations were related to managing cloud spend. Around 84 percent of respondents found managing cloud spend to be a significant challenge. Other commonly cited challenges included security, governance, and lack of resources/expertise. 

Cloud computing

Cloud computing is a technology that allows organizations of all sizes to take advantage of advanced computing and data storage resources without the need to manage hardware themselves. Large data centers rent space and processing power to numerous clients and provide companies with flexibility and scalability, which can lead to more innovation and increased time to market. The global public cloud computing services market is forecast to bring in revenues of over 678 billion U.S. dollars in 2024. 

Different cloud computing models

There are various cloud computing models in use around the world: public clouds that rent resources to multiple customers through the internet, within-enterprise private clouds, and hybrid clouds that incorporate elements of both. The most commonly employed cloud strategy among enterprises is the hybrid cloud, which accounts for around 82 percent of these organizations as of 2023. Benefits of hybrid cloud strategies include the ability to store and move data and workloads across environments, among others.