A Journey Through the Clouds

It’s fascinating the way technology permeates almost all aspects of our lives in multifarious forms. From WhatsApp to Facebook and LinkedIn, we use several apps on a daily basis without even realizing how much technology we use and how much we are influenced by it. Well, professional life is the next level of this story. On a broader canvas, every industry is starting to use technology at an unparalleled pace. Thanks to the ease of adoption of the latest technologies. As a result, new businesses are mushrooming across different marketplaces at a remarkable pace. We owe a lot to technologies becoming more plug & play, more driven by the cloud, and simpler to use. They make it easier to test ideas and move on faster if it fails.

It’s not a secret that the pandemic has been a tailwind to cloud adoption, either. In fact, many businesses were thrown into unprecedented predicaments and unexpectedly had an opportunity to reassess how they communicate within the organization and bank on their mission-critical technology applications. Most of them migrated to the cloud to ensure that the delivery is resilient and consistent and the deliverables maintain a high level of quality. According to markets and markets. the global cloud computing market size is expected to grow from $445.3 billion in 2021 to $947.3 billion by 2026, at a Compound Annual Growth Rate(CAGR) of 16.3percent during the forecast period.

The technology services companies have played a significant role in enabling this migration across the industries. The Indian software-as-a-service (SaaS) industry has made the most of this favorable ecosystem. India is currently home to 17 SaaS unicorns, with the entry of companies like PostMan, MindTickle, Browserstack, and many others. Indian SaaS companies, in particular, are making a global impact. It is reported that the SaaS revenue is growing 20 percent every year globally and is expected to reach $300 billion by 2024. It’s inevitably the epoch of the IT services providers.