Cloud Consumption Trends for 2023

Cloud technology is expected to see massive growth in 2023, with worldwide public cloud spending forecast to increase 20.7% to $591.8 billion. The shift to cloud technology is no longer optional as it offers too many benefits, especially in an uncertain economy, according to Scott Chasin, Chief Technology Officer of Pax8. The global pandemic and work-from-home mandates have led to companies speeding up their digital transformation investments and moving to cloud-based telecom and applications to support remote working and serve customers. The elasticity and scalability of the public cloud reduce the financial risk of innovation while enabling business agility and new applications. The growth of cloud consumption in 2023 will be driven by the continuation of hybrid cloud adoption, the evolution of artificial intelligence and machine learning, and the increased importance of customer experience. Read the full article here.

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