AI has sucked all the air out of the room of late, but the tech that makes AI possible keeps the business humming and advances the core mission of IT, and the business too often goes overlooked, unused, and underfunded.
One of these technologies is cloud migration tools. Yugal Joshi, a Partner at Everest Group, lists cloud assessment tools as another underhyped and underused tech.
Migration to cloud has been at the vanguard of growth the past three years, but its pace has slowed considerably and is unlikely to return at the level it was post pandemic. Microsoft, Alphabet, Amazon and even Meta, Apple and Tesla have indicated a weakening demand environment that could last at least two quarters.
Peter Bendor Samuel says, “Much of the growth the industry has experienced over the last three years has been the migration to cloud and this modernization phenomena has slowed considerably and is unlikely to return at the level it was post-covid.”
Whether you’re starting out or deep into your cloud journey, assessing — and reassessing — there are some key questions vital to ensuring a business-aligned approach free of cost overruns that can arise rapidly at any time.
Mukesh Ranjan, Vice President at Everest Group shares his views on some of the key points. He suggests it’s critical that all stakeholders and impacted functions should be aligned on the business value of moving to the cloud. He also talks about how quantifiable, dynamic, and outcome-oriented metrics are essential to track progress and measure the business value of the cloud.
The demand for cloud security services in the global business landscape is accelerating due to enterprises’ digital transformation mandates, rising importance of data protection, and challenges in securing hybrid multi-cloud environments. The need for effective cloud security solutions has intensified due to the expansion of cloud infrastructure, which has led to larger attack surfaces, rising cyber threats, complexities in posture management, and frequently changing regional cloud governance and security policies.
In response to stricter data protection regulations, enterprises face growing pressure to comply with data privacy laws and address increasing cybersecurity threats. The post-pandemic landscape, characterized by remote work and security vulnerabilities, has intensified cyber risks. Enterprises are prioritizing cloud security services to offer comprehensive end-to-end protection across complex hybrid multi-cloud systems. Cloud security providers are expanding their capabilities to meet these demands, emphasizing a platform-driven approach with next-generation features such as DevSecOps, automation, and zero trust. Collaborative efforts with cloud-native and third-party security providers are vital to provide sophisticated, adaptable, and globally compliant cloud security services.
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The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.
According to a data point published by Everest Group, 67% of enterprises believe they are not seeing the expected value from cloud. With the public cloud market growing north of 20% year-on-year for the past seven years, this “value realization” question did seem like cloud denial. But every market witnessing heady growth needs its moment of truth to reinvent and pivot to the next phase. This moment has come for the cloud as a market.
Technologies like cloud storage and distributed databases provide some of blockchain’s data integrity and reliability advantages with fewer performance, efficiency, and cost issues.
Suseel Menon, Practice Director at Everest Group, said the trust and security policies and governance layers of cloud services are sufficient for most enterprise applications. In addition, several third-party data storage services can provide better governance and security with far less overhead than a blockchain would entail, he said.
Cloud has become a global industry topping US$100 billion in size, but some customers have begun to question the move to these services and started to bring workloads back in-house.
Cost pressures are forcing organizations to look more closely at their cloud investments, according to Everest Group. It claims cost has now risen to the top concern among cloud customers, and 67% of enterprises surveyed say they are not seeing the expected value from the cloud.
Everest Group’s cloud and legacy transformation leader, Abhishek Singh, told us that this can be down to the way organizations are using the cloud, and that the cost benefits are clear for operating cloud-native applications.
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