The global cloud computing market is projected to reach $950 billion by 2026 and the figure is larger than the GDP of many countries. The huge growth shows the segment is to become highly vital and simultaneously highlights a major problem and it is that many businesses now are still struggling to manage their cloud resources effectively. A recent study reveals that 69% of IT leaders overspent on cloud resources in 2024 and 82% admitted that managing cloud costs is their biggest headache.
It is surprising that so much waste is still happening even with the promises of efficiency by the cloud. The issue is not its technology part but how it is used. Using cloud is like driving a Ferrari for many companies and simply going to the corner store.
Smarter Way to Use Cloud
The solution to is not about working harder, but it is about working smarter. Businesses often fall into the trap of overloading resources by over-provisioning or by failing to optimise usage. Hence, they unnecessarily spend more and inefficiently.
One way to fix it is by setting up Cloud Centres of Excellence (CCoEs). Experts here are focused on aligning cloud operations with business goals by looking at a bigger picture instead of just worrying about technical details like how many storage buckets are needed. They try to understand the need of a business to achieve something and the way cloud resources can help.
Some cloud tools are designed to make the process easier. Businesses can automate tasks, monitor costs and adjust resources dynamically to avoid overspending by using the right technology.
Automation and AI: Future of Cloud Efficiency
Automation saves time, reduces errors and allows businesses to focus on strategic goals instead of routine tasks. Artificial intelligence (AI) is set to play a bigger role in automation. Simply imagine an AI assistant that monitors cloud usage, predicts demand and adjusts resources in real time to save costs.
Focusing on sustainability in cloud practices can bring benefits like lower costs and a smaller carbon footprint. Companies can meet financial and environmental goals by choosing energy-efficient cloud providers and optimising workload placement.