6 Cloud Computing Trends: Cost, Hybrid Cloud, Economics

Cloud News Mark Haranas Mar 09, 2023 12:37 pm EST

Here are six interesting findings from Flexera’s new cloud report on the top cloud challenges companies are facing in 2023, overspending, cloud waste, hybrid cloud, cost optimization, and whether companies plan to more or less in an uncertain economy to spend

From economic uncertainty actually leading to an increase in cloud adoption this year, to organizations exceeding their public cloud budgets by an average of 18 percent, there are some key cloud computing trends that are affecting all organizations every year 2023 should know.

“Economic uncertainty is reducing business spending, but the need to innovate and increase revenue remains strong — and the cloud is an engine of innovation,” Flexera said in its new 2023 State of the Cloud Report.

CRN breaks down six of the most interesting findings from Flexera’s new cloud report, including: top enterprise cloud challenges in 2023, public cloud overspending, cloud wastage, hybrid cloud, cloud cost optimization policies, and whether companies plan to invest more or less in cloud computing during times of economic uncertainty.

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Cloud “will weather economic storms”

Before diving into the survey results, it’s important to know that Flexera’s results indicate that the state of the cloud market is solid in 2023, as most companies spend millions on cloud computing every month.

Despite a global pandemic, IT layoffs and an uncertain economy, cloud computing is still on the rise.

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“While organizations of all sizes prioritize every dollar spent, the cloud and technology will weather economic storms,” ​​said Flexera. “Companies that remain focused on digital transformation, embrace new opportunities and develop strategic initiatives through a cost-aware lens will be better positioned for success than their competitors.”

Flexera’s new report surveyed 750 executives and IT professionals worldwide, with the majority of respondents hailing from the United States and Europe. Approximately 67 percent of respondents worked in organizations with more than 2,000 employees, while 11 percent of the companies surveyed had more than 100,000 employees.

With companies in the US and Europe making up a large portion of respondents, the results of Flexera’s 2023 State of the Cloud report are important for tracking trends in the cloud market.

Here are six key cloud market trend results that channel partners, investors, vendors, and customers should know about in 2023.

Markus Haranas

Mark Haranas is an Associate News Editor and veteran journalist now covering cloud, multicloud, software, SaaS and channel partners at CRN. He speaks to world-renowned CEOs and IT professionals, covers breaking news and live events, and chairs several CRN reporters. He can be reached at [email protected]