Cloud Computing

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Cloud computing is the delivery of computing services — servers, storage, databases, networking, software, analytics and more — over the Internet (“the cloud”). It is a type of internet-based computing that provides shared computer processing resources and data to computers and other devices on demand. It employs the use of remote servers over a network. These servers can provide functionality like storage, processing, security, analytics etc. delivered in a pay-per-use basis. Cloud computing works by storing data off the device, then retrieving the data when needed using an Internet connection, thereby consuming large amount of scarce bandwidth.

Fog computing is a decentralized computing infrastructure in which data, compute, storage and applications are located somewhere between the data source and the cloud. Like edge computing, fog computing brings the advantages and power of the cloud closer to where data is created and acted upon.

Edge computing pushes computing power to the edges of a network, implementing data analytics close to the end devices and close to the source of data.

Major Cloud Computing Service Providers are Microsoft Azure, AWS (Amazon Web Services), Google Cloud Platform, IBM Cloud, VMware. These are available as Infrastructure as a service (IaaS), Software as a service (SaaS), Platform as a service (PaaS), etc.

Google Cloud and Boston Consulting Group (BCG) in a joint study released in Feb. 2020 said that India continues to show potential for rapid growth in public cloud. Projected to grow at a CAGR of 25% from US$3 billion in 2018 to US$8 billion in 2023, public cloud deployments in India have the potential to contribute approximately US$100 billion in GDP cumulatively from 2019 to 2023 according to the study.

Eureka Forbes (water/ air purification, home security, and vacuum cleaning products) migrated its tier-1 data payload application (SAP systems) along with Eureka Forbes web portal to cloud (Microsoft Azure).

By using a secure cloud infrastructure, digital banking providers can look to reduce infrastructure complexity and improve their security posture. In the process, they will be able to free up in-house IT teams to use their talent for higher-value tasks.

Multi-cloud environments offer enterprises many advantages especially when they want to mix and match software for optimization. It gives the option to combine multiple providers for internal applications – such as AWS, Microsoft Azure or Google Cloud – for performance, stability and cost savings.

The end-user spending on public cloud in India is likely to reach $7.5 billion in 2022 — growing 29.3 per cent from 2021, a Gartner report said.