is a type of infrastructure where all of your resources and network capabilities are available through a third-party service provider. The third-party service provider hosts resources like routers, firewalls, bandwidth, and network management software on a cloud platform for you. VMware, Inc. defines cloud networking as “a software-defined computer network that is within a cloud computing infrastructure. Internal and external computing resources and users can use the network to connect and communicate with each other.”
Well, the use of cloud networking reduces the investment needed for your network because it reduces the amount of management devices you need to keep up to date and house on-premise. It is the basic ability to house your resources on a shared network between all employees, no matter where they are located geographically. Instead of storing your resources on a physical hard drive, it is all housed in the cloud and available to anyone with access by utilizing the internet. This means, wherever you go, your documents are only a few clicks away.
Housing all your resources in the cloud also mitigates the old school issue of data loss due to device failure. Devices can easily be broken, stolen, or lost which used to mean that a lot of important documents and resources could be lost along with them. With cloud networking your files aren’t stored on any specific device, they are stored in the cloud so the second you fire up a new device, you can easily access everything as they were.
Long term, IDC expects spending on cloud IT infrastructure to grow at a five-year compound annual growth rate (CAGR) of 7.5%, reaching $94.5 billion in 2023 and accounting for 57.6% of total IT infrastructure spend. Public cloud infrastructure will account for 66.2% of this amount, growing at an 6.6% CAGR. Spending on private cloud infrastructure will grow at a CAGR of 9.4%. (source: IDC 2019)
In 2020, we’ll see the public cloud market, including cloud applications (SaaS), development and data platforms (PaaS), and infrastructure (IaaS) services combined, grow to $299.4 billion. Even with slower growth on the horizon, this is tremendous success for a consolidating, maturing market on its way to half a trillion dollars in just a few years. Also, currently, 65% of North American enterprises rely on public cloud platforms, and 66% run internal private clouds. (source: Forrester Research, Inc. 2019
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