Why is there a need for Cloud Computing?#

Cloud computing is getting famous as an alternative to physical storage. Various advantages enable business organizers to prefer cloud computing to other data servers and storage options. One of the most prominent reasons setting the global acceptance and upsurge in the use of cloud computing is cost-saving applications of cloud computing reducing the cost of hardware and software required at the consumer end. The versatility of cloud computing provides the option to workload data access online through the internet from anywhere in the world with restriction of access timing. The innovation in cloud computing such as the integration of paying options, and switching over to applications in an easy manner highlights the growing need for cloud computing as a future solution to computing.

The effectiveness of cloud computing is linked to its massive use as a driver of transformation interlinking artificial intelligence, the Internet of Things (IoT) with remote and hybrid working. The involvement of metaverse, cloud-based gaming technologies, and even virtual and augmented reality (VR/AR). Using cloud computing enables users to avoid investing in buying or either owning an infrastructure that facilitates complex computing applications. Cloud computing is an example of “as-a-service” that makes running servers and data centers located miles apart like a connected ecosystem of technologies.

Multi-Cloud Market and its Trends in 2022 - 2023#

Early Trends#

The rise of cloud computing in the year 2020 and 2021 promises that market trends and acceptability to use multi-cloud computing will further increase. It was post-pandemic that the focus was on digital applications for conducting business within safety limits. With the development of new technologies and capabilities in cloud computing, every organization and business house is starting to get cloud computing integrated with daily business operations. Multi-cloud computing is a system of tools and process that helps organize, integrate, control, and manage the operations of more than one cloud service that were provided by more than one service vendor. As per the reports from Gartner, the predicted spending on the usage of multi-cloud services has reached \$482.155 billion in the year 2022 which is 20% more spending than in 2020.

Innovation Requirement#

The current market management of multi-cloud is segmented on the lines of deployment and market size. The strategic geographic location and demographic trends are also shaping the growth of multi-cloud use. Multi-cloud computing is resulting in increased usage of artificial intelligence (AI), and the internet of Things (IoT). Thus, further accelerating the use of remote and hybrid working as a new business culture. The role of multi-cloud is to be an enabler to move forward swiftly with the development of new technologies such as virtual and augmented reality (AR/VR), the metaverse, cloud-based virtual gaming, and leading quantum computing as well. By 2028, it is expected that the multi-cloud market will grow to become a multimillion-USD service industry.

Trends of Multi-cloud Computing in Asian Markets#

In the Asian region, the use multi-cloud market will increase because of greater workforce dependency on computing-related businesses. International Digitial Corporation (IDC) projected that in 2023, South Asian companies will generate 15% more revenue from digital products. A major bulk of this revenue will be based on growth and the emergence of multi-cloud services. Thus, one in every three companies will conduct business and earn 15% more while working on the cloud in 2023. In 2020, every one in six companies was getting benefitted from the cloud market. The existence of cloud computing knowledge is leading the upward trends in the Asian market.

Asian and African countries have traditionally been a place of physical connection rather than virtual ones. But, the pandemic of Covid-19 has changed that perception and the cultural stigma of going away to work. Governments of India, China, Hong Kong, Thailand, and Singapore are working towards taking their workloads on virtual cloud formats. Therefore, focusing on the future resilience of the work in case of the sudden emergence of any public health disaster. Thus, multi-cloud has become a prominent driver in changing the working process and methods of business. All organizations are developing contingency planning and emergency data recovery solutions. Multi-cloud provides recovery opportunities by storing the data on separate cloud providers.

The emergence and growth of multi-cloud computing is the next revolution in the IT world. The post-pandemic trends reflect greater demand for resilient infrastructure to safeguard businesses from global calamities in the near future. Therefore, Asian and South Asian countries are taking up multi-cloud computing as an alternative to private cloud services. Small and medium organizations in Asian countries are also taking up advantage of multi-cloud computing to improve their business prospects.

Edge Computing is booming all around the globe, so let us look in to what the latest Edge Computing Market trends in Asia are.

What is Edge Computing?#

The world of computing has been changing inter-dimensions venturing into new models and platforms. It is one such innovation that is an emerging concept of interconnected networks and devices which are nearby of one another. Edge computing results in greater processing speeds, with greater volumes to be shared among each user which also leads to real-time data processing. The model of edge computing has various benefits and advantages wherein the computing is conducted from a centralized data centre. With the growing knowledge about edge computing in organizations across the world, the trends are growing positively across all regions. The generation and growth of edge computing for enterprises in Asia is an incremental path with major countries' data consumers such as Singapore, China, Korea, India, and Japan looking to explore edge computing for IT-based benefits.

The emergence of the Asian Computing Market#

The development of the Asian computing market arises from the highest number of internet users in the countries like China, India, Singapore, Korea, and Japan. The development of the computing industry in small Asian countries such as Hong Kong, Malaysia, and Bangladesh has also created a demand for the adoption of global technologies like edge computing. These economies are converging towards digital currency and digital public services that aim to take advantage of edge computing. Asian emerging market is also undergoing rapid growth and transitioning into a technological industry base. The Philippines for example have been growing its internet user base with a 30% annual increment till 2025. Vietnam, another Asian country with a growing economy is also aiming to become to fastest-growing internet economy in the next decade. The demand of domestic nature is resulting creation of computing for Enterprises in Asia that are bound to give intense challenges to multinational IT companies.

Critical Importance of Edge Computing to Emerging Asian Markets#

The business centered on edge computing is creating a network of the most efficient process of social media, IoT, virtual streaming video platforms, and online gaming platforms. Edge computing offers effective public services offered through smart cities and regions. The trends for edge computing in Asia are increasing to reach \$17.8 billion within the next 3 years till 2025. Edge computing is the next big innovation that generates decentralized computing activities in data centres and business call centres. Edge computing can be used by various business industries to support the market presence of Asian markets. Nife for example has been gaining a lot of traction as one of the best application deployment platforms in Singapore for the year 2022. It offers one of the best edge computing platforms in Asia with clients in Singapore and India.

The development of Multi-cloud platforms in Asia is contributed to the high-skill workforce engaged in computer engineering. Businesses focused on digital tools and techniques, technology-based cross-collaboration between countries such as Singapore and India in the field of digital health, smart cities, and IT-based infrastructure is an example of edge computing for enterprises in Asia which is taken up by other Asian countries as well. Using edge computing platforms Asian business organizations are preventing the bottlenecks in infrastructure and services owing to a large number of consumers. The example of a multi-cloud platform in Singapore is notable for the benefits it is providing to business organizations. Nife as an organization is helping enterprises to build future business models to provide stronger digital experiences with an extra layer of security. The models based on the edge computing platforms are rapidly scalable and have a global scaling factor that can save cost when taking business in off-shore new markets.

Key Influencing trends supporting Edge Computing Market#

Edge computing is regarded as the best application deployment platform in Singapore as per the survey performed by Gartner in 2022. Various reasons are driving the edge computing used for enterprises in Asia based on low-latency processes and the influx of big data. The use of IoT, Artificial Intelligence, and the adoption of 5G is fostering the development of multi-clouding platforms. There are key trends that are shaping the development and growth of edge computing in the Singapore/Asian market and are illustrated as follows:

• IoT growth: Edge computing facilities the sharing of data when IoT devices are interconnected creating more secure data sharing with faster speed. The use of IoT devices based on edge computing renders optimization in real-time actions.
• Partnerships and acquisitions: the application of multi-cloud computing ecosystems is still developing in Asia based on service providers to connect with networks, cloud and data centre providers and enterprising the IT and industrial applications.

Conclusion#

Edge computing development in Singapore/Asia is surfaced as the best application deployment platform. The progress of edge computing is changing business development in the Asian market. The trends of greater application in the Asian market are reflected based on the growing number of internet users which is probably the largest in the world, adoption of the digital economy as a new model of industrial and economic development by most Asian countries such as Hong Kong, Malaysia, Thailand, India, and China. Such factors are positively helping local Edge Computing Enterprises to grow and compete in the space of multi-cloud services against the best in the world.

You can also check out the latest trends in the Gaming industry here!