Cloud Cost Management Statistics 2024 – Everything You Need to Know

by

Are you looking to add Cloud Cost Management to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Cloud Cost Management statistics of 2024.

My team and I scanned the entire web and collected all the most useful Cloud Cost Management stats on this page. You don’t need to check any other resource on the web for any Cloud Cost Management statistics. All are here only 🙂

How much of an impact will Cloud Cost Management have on your day-to-day? or the day-to-day of your business? Should you invest in Cloud Cost Management? We will answer all your Cloud Cost Management related questions here.

Please read the page carefully and don’t miss any word. 🙂

Best Cloud Cost Management Statistics

☰ Use “CTRL+F” to quickly find statistics. There are total 169 Cloud Cost Management Statistics on this page 🙂

Cloud Cost Management Usage Statistics

  • 50% of people said cloud usage would be higher than initially planned throughout the COVID. [0]
  • For the third straight year, respondents said optimizing cloud usage to save money is their number one priority, with 64 percent of respondents saying it was their top initiative for 2019, according to the report. [1]
  • The use of Docker containers grew from 49 percent in 2018 to 57 percent in 2019, while Kubernetes usage rose from 27 percent to 48 percent. [1]

Cloud Cost Management Market Statistics

  • Amazon Web Services has the largest cloud computing market share at 32%. [0]
  • The average spendings have risen by 35.8% since 2016 which attests to the growing interest of enterprises in the cloud computing market. [0]
  • This process will boost the influence of the top industry vendors and grant them control over 75% of the market. [0]
  • Currently, the top five “only” account for about 50% of the cloud market. [0]
  • Google Cloud ranks third at 19 percent, followed by VMware Cloud on AWS and IBM Cloud, each of whom captured 12 percent of the market. [1]
  • Spending by midmarket companies showed the least volatility, rising 1.7% in March and changing within a small band through September. [2]
  • At that point, midmarket cloud investment was up 11% over January. [2]
  • Amazon web services have the largest cloud computing market share at 32%. [3]
  • AWS still dominates the market with a 33% share, while Microsoft Azure is trailing in second place at 16%. [3]
  • AWS dominates the market with a 33% share, while Microsoft Azure is trailing in second place with a mere 16%,. [3]
  • Considering that the service launched just a couple of years ago and has already amassed a 7% market share, they are doing well for themselves. [3]
  • This one comes as a surprise as Dropbox continues to be the leading cloud storage provider with 47.3% of the consumer market in the US. [3]
  • Other popular cloud services include Google Drive with 26.9% and Microsoft OneDrive with a 15.3% share of the market. [3]
  • AMR forecast shows that the global cloud services market will be raking $555 billion in revenues by 2021, indicating a 17.5% overall growth rate for the cloud computing industry from the previous year. [3]

Cloud Cost Management Software Statistics

  • 67% of enterprise IT infrastructure and software will be cloud based by the end of 2020. [0]
  • According to a report by International Data Corp., total worldwide spending on cloud computing, including hardware, software, and supporting services, will surpass $1 trillion in 2024, sustaining a compound annual growth rate of 16%. [2]

Cloud Cost Management Adoption Statistics

  • Azure was the only provider to increase their adoption rate. [4]
  • YoY. Google Cloud Platform showed the highest percentage of experimentation , which tends to drive more adoption in the future. [4]
  • Platformasa Service grew in adoption to 56% by 2020. [0]
  • Platformasa Service grew in adoption to 56%. [0]
  • , the adoption of Platformasa service back in 2017 was only 32%. [0]
  • Cloud adoption statistics reveal that in 2020 a staggering 83% of the companies’ workload was stored on the cloud. [0]
  • Private cloud adoption is increasing slowly, with spending expected to go up by 8 percent in 2019 when compared to last year. [1]
  • The use of hybrid cloud continues to grow, with adoption among enterprises increasing from 51 percent in 2018 to 58 percent in 2019. [1]
  • Platformasa Service is expected to grow in adoption to 56% by 2020. [3]

Cloud Cost Management Latest Statistics

  • 50% of respondents don’t know the definition of cost governance. [5]
  • 80% experienced an unexpected increase in spend during Q2. [5]
  • 42% plan to utilize new cloud infrastructure to cut costs. [5]
  • For 64% of respondents, “cost management and containment” is their biggest concern with running cloud big data technologies and applications. [6]
  • In 2020, for one in three respondents, cloud spend was projected to be over budget by between 20 percent and 40 percent. [6]
  • One in 12 respondents said their cloud spend was expected to be over budget by more than 40 percent. [6]
  • Types of cloud 47 percent of respondents are using a private cloud; 21 percent are in the public cloud; 28 percent are using a combination of both. [6]
  • Biggest concerns when running big data applications in the cloud 39 percent of respondents cited cost management and containment; 33 percent said increased complexity; 14 percent said CapEx to OpEx; 13 percent said a lack of control. [6]
  • When asked how budgets were impacted by the move to the cloud, 40 percent stated that budgets stayed the same and resided with IT; 31 percent said budget became shared with IT administering; 30 percent said budgets moved into one or multiple business units. [6]
  • Asked to estimate what they will spend this year on big data analytics in the cloud, 34 percent said between $500,000 and $1M; 26 percent said between $1M and $2M; 15 percent said between $2M and $10M; seven percent said more than $10M. Budgets. [6]
  • For 2020, 44 percent said they’d be on budget; 35 percent expected to exceed budget by 20 to 40 percent; eight percent of respondents believed they’d exceed budget by more than 40 percent. [6]
  • The types of applications and workloads that consumed the most resources, according to respondents were Hive, with 29 percent of the vote; Spark, at 27 percent; MapReduce, at 16 percent; Tez, at 11 percent; other applications, 18 percent. [6]
  • Fifty two percent spend $1.2 million or more annually on AWS. [4]
  • By comparison, 52 percent also spend $1.2 million or more on Azure, indicating Azure has closed the gap for the first time in the eleven years of this survey. [4]
  • Thirty three percent reported spending $1.2 million or more on Google Cloud Platform. [4]
  • IDC reckons that global public cloud services and infrastructure spending will hit $210 billion in 2019, up 23.8 percent from 2018. [7]
  • Eight percent of respondents to the RightScale survey were spending more than $12 million on the public cloud. [7]
  • Another 15 percent were spending $2.4 million to $12 million. [7]
  • It’s not surprising that 64 percent of respondents to RightScale’s survey had cost savings as their top cloud initiative. [7]
  • The tracking effort is likely to expand since Gartner estimates that number of commercially available cloud management platforms will more than double by 2021 to more than 30. [7]
  • “IDC Cloud Survey 2020” represents key insights on growth on cloud consumption and related IT budgets 32% of IT budget will be dedicated to the cloud by 2021. [8]
  • Enterprises’ average cloud spending is up 59% from 2018 to USD73.8M. [8]
  • More than half (55%). [8]
  • 92% say their IT environment relies on the cloud, predicted to grow to 95% in 18 months. [8]
  • 80% of the cost is consumed compute and storage – put more focus on that. [8]
  • 61 percent of cloud users affirm that cost optimization is a priority. [9]
  • These expensed transactions from individual employees represent just 7% of total SaaS spending — but more than half of the number of SaaS applications in an organization. [10]
  • Estimated at just $24.65 billion in 2010, it has already surpassed the $150 billion mark. [0]
  • Consider this 81% of all enterprises have a multi cloud strategy already laid out or in the works. [0]
  • 67% of enterprise infrastructure is cloud. [0]
  • Additionally, 82% of the workload will reside on the cloud. [0]
  • While free platforms like Dropbox and iCloud continue to excel as the most popular free file storage services, Amazon Web Services appear to be the clear winner according to cloud computing stats in 2024. [0]
  • AWS holds the next largest percentage at 32%. [0]
  • Cloud computing actually started in the US and they have been leading the way since 2015, according to cloud computing statistics by country. [0]
  • In 2021, this is expected to rise significantly to 56%, making it the fastest growing segment in cloud platforms. [0]
  • Between 2021 and 2025, this sector will have a Compound Annual Growth Rate of 19%. [0]
  • This marks a 17.5% projected growth from 2018 to 2019 a brave, yet reasonable assumption. [0]
  • If we take the previous yearto year growth for comparison, the industry registered a massive 21% jump back then. [0]
  • Cloud computing statistics from IDC predict a 10.9% growth rate of the demand for servers, Ethernet switches, and enterprise storage solutions. [0]
  • Respondents that have tried to make projections, but ended making oversights by 24% on average. [0]
  • 70% of companies using the cloud plan to increase their budgets in the future. [0]
  • 74% of enterprises believe they are taking the best of both worlds and define their strategy as hybrid or multi. [0]
  • 84% of surveyed enterprises describe their IT infrastructure as “multi. [0]
  • In comparison, the hybrid cloud strategy is still below 60%. [0]
  • Public cloud remains the most preferred cloud service type, with 91% of respondents relying on such tech. [0]
  • 46% of data in European countries was in cloud storage in 2020. [0]
  • Nearly 50% of organizations in Europe utilized cloud storage in 2020. [0]
  • Now 43% of this data is highly confidential, and it’s paramount that its location is secure since risks increase in the cloud. [0]
  • In addition, just 44% of this information is under tokenization. [0]
  • 80% of companies report operation improvements within the first few months of adopting the tech. [0]
  • Small and medium businesses find it 40% more costeffective to employ thirdparty cloud platforms than maintaining an in. [0]
  • Cloud technology is so reliable when it comes to safety that 94% of businesses report significant improvements in online security after moving their data to the cloud. [0]
  • Furthermore, a massive 91% also state cloud tech proves of immense help when they deal with government compliance requirements. [0]
  • 34% of small and medium businesses said cloud computing was significantly higher than planned due to COVID. [0]
  • According to cloud computing statistics for 2024, over 30% of SMBs used significantly more cloud computing than originally planned due to the pandemic. [0]
  • 52% said it was slightly higher than expected. [0]
  • 71% look for speed improvements, 63% want greater flexibility, and 57% pick improved customer support as reason #1. [0]
  • Email services and file storage are the predominant uses for cloud computing in the EU with 66% and 53% respectively. [0]
  • Email management remains at a steady level, while file storage purposes have increased by a whopping 15%. [0]
  • Businesses all point out “governance” as their #1 priority, according to 2019 cloud computing statistics. [0]
  • A large number of enterprises (84%). [0]
  • Alibaba’s cloud revenue grew by nearly 60% in 2020. [0]
  • Alibaba experienced a 59% growth in revenue, making about $2.2 billion. [0]
  • Dropbox continues to be the leading cloud storage provider with 47.3%. [0]
  • Other top services include Google Drive (26.9%) and Microsoft OneDrive (15.3%). [0]
  • This forecast predicts the 2014 2020 period will indicate a 17.5% overall growth rate for the cloud computing industry. [0]
  • Management tools and security services are expected to be the fastest growing segments with a 28.4% improvement. [0]
  • Enterprises are predicted to invest over 3.5 million on average within the next year. [0]
  • This expenditure took 30% of their total IT budget in 2021. [0]
  • The majority of the budgets will be allocated for SaaS platforms (48%) while the rest will be split between IaaS (30%), and PaaS (21%). [0]
  • Cloud computing jobs have increased by 42% between 2018 and 2021. [0]
  • Cloud computing is quickly becoming an in demand skill, with stats showing that vacancies have gone up by over 40%. [0]
  • Searches for the roles have also gone up by 50%. [0]
  • The cloud monitoring industry will grow by 22.7% between 2020 and 2024. [0]
  • According to cloud computing statistics, monitoring will increase by about 23% between 2020. [0]
  • 48% of federal and state agencies utilize multiple cloud. [0]
  • Finland and Sweden are leading the pack with 65% and 57% respectively. [0]
  • On the other end of the spectrum, we have Romania and Bulgaria with a mere 10% of enterprises hosted in the cloud in 2018. [0]
  • What Percentage of Websites are WordPress in 2024?. [0]
  • Large organizations plan to spend 24 percent more in the public cloud in 2019 when compared to last year. [1]
  • For example, less than half of. [1]
  • Only 23 percent of Microsoft Azure users use reserved instances, while only 10 percent of Google Cloud customers are using a similar discount option that Google calls “committed use discounts,” according to the RightScale 2019 State of the Cloud Report. [1]
  • The survey has a margin of error of 3 percent, the company said. [1]
  • For example, 43 percent of respondents do not have automated or manual policies to use the lowestcost cloud service and another 38 percent have not developed policies to use their cloud providers’ lowest. [1]
  • Another 29 percent do not have automated or manual policies to shut down workloads afterhours, 27 percent do not have policies to eliminate inactive storage, and 20 percent do not have policies to right. [1]
  • While respondents estimate 27 percent waste in 2019, the report measures actual waste at 35 percent. [1]
  • According to the survey, 61 percent of respondents use AWS in 2019, a drop of three percentage points from last year. [1]
  • Azure use grew from 45 percent in 2018 to 52 percent in 2019. [1]
  • Bringing up the rear are Oracle Cloud and Alibaba Cloud. [1]
  • Another 29 percent are experimenting with or plan to use AWS Outposts, fullymanaged AWSdesigned hardware that will allow customers to run AWS compute and storage services on premises and provide full integration with the AWS public cloud. [1]
  • Most respondents use VMware vSphere to build their private cloud. [1]
  • OpenStack is the second most popular platform , followed by VMware vCloud Director and Microsoft System Center. [1]
  • Overall, 94 percent of respondents have embraced the cloud. [1]
  • Among enterprises with 1,000 or more employees, 84 percent are deploying a multi. [1]
  • Enterprises have more workloads in the private cloud than the public cloud. [1]
  • The remaining 21 percent of workloads are not in the cloud. [1]
  • Another 21 percent of respondents plan to use Docker containers and another 27 percent plan to use Kubernetes in the future, the survey found. [1]
  • Relational Databaseasa Service offerings are the most popular, with 53 percent of respondents using the services, followed by push notifications , and data warehousing. [1]
  • The fastest growing PaaS services are serverless and stream processing, which both saw 50 percent growth over the past year. [1]
  • The percentage of respondents using serverless grew from 24 to 36 percent, while stream processing increased from 20 to 30 percent. [1]
  • Machine learning saw 44 percent growth, from 18 to 26 percent, while Containerasa Service grew 42 percent, from 26 to 37 percent, the survey said. [1]
  • As such, screenshots contained in this blog may not be 100% aligned with your current version of Profitability and Cost Management. [11]
  • As such, screenshots contained in this blog may not be 100% aligned with your current version of Profitability and Cost Management. [12]
  • Fifty three percent are now spending $1.2 million annually up from 38 percent in 2021. [13]
  • About 70% of the respondents said their organizations had experienced public cloud costs as much as 62% higher than initially anticipated. [2]
  • IT professionals by Pepperdata found that cloud spend for 2020 was expected to be over budget by between 20% and 40%. [2]
  • Enterprise organizations analyzed by VMware’s CloudHealth unit increased cloud spending levels by only 3% in March 2020, but in May 2020 showed a 23% increase in cloud investment. [2]
  • On the other hand, after upping spending 7% in March, the hard hit small business segment showed a consistent drop in cloud spending levels. [2]
  • By May, spending had fallen 5% compared with January. [2]
  • Expensify Shares Pop 52% in Market Debut. [2]
  • Once the model has predicted a normal value range with confidence, any metric value outside of that range would be flagged as an anomaly. [14]
  • To price differently you can Apply a markup For each cost item that you are getting from the cloud provider, you apply a markup such as 4% or 20%. [14]
  • For example, a compute instance whose CPU has been used, on average, below 1% for at least 24 hours should be considered unused and should be disposed. [14]
  • You can save up to 70% on development instances if you schedule them to be on only for eight hours a day and five days a week. [14]
  • For example, if you set your utilization threshold for compute instances at 70% on the CPU metric, your rightsizing process would change size accordingly to keep the utilization line as flat as possible, as depicted in Figure 12. [14]
  • Discounts are applied as a percentage of reduction (such as 5% or 20%). [14]
  • In the hypothesis of always finding a matching resource through its validity, a programmatic discount can make the actual resource costs up to 70% lower than the PAYG model. [14]
  • Selecting a low latency, georedundant tier with 99.99% availability for data that is not critical for your organization may be a waste of money. [14]
  • 81% of all enterprises have reported that they have a multi cloud strategy already laid out or in the works. [3]
  • At the end of 2021, 67% of all enterprise infrastructure was cloud. [3]
  • It is reported that 82% of the workload will reside on the cloud. [3]
  • A staggering 83% of the company workload will be stored on the cloud as a growing number of companies continue to move from private to the public cloud. [3]
  • According to the IDC, the most prominent industries expected to spend the most money are manufacturing at $19 billion, professional services at $18 billion, and banking at $16.7 billion. [3]
  • According to Gartner, the future is looking bright for the public cloud sector, and it is expected to grow from $175 billion in 2018 to $331 billion in 2020. [3]
  • Breaking down that statistic and looking at the previous yearto year growth for comparison, the industry registered a massive 21% jump. [3]
  • Cloud computing statistics from the IDC show a 10.9% growth rate of the demand for servers, Ethernet switches, and enterprise storage solutions. [3]
  • A recent survey from Redlock revealed that 7% of businesses believe that they have useful overall mission. [3]
  • 80% of companies say operation improvements within the first few months of adopting the tech. [3]
  • A report from Multisoft claimed that 80% of companies report operation improvements within the first few months of adopting the tech. [3]
  • That’s why small and medium businesses find it 40% more costeffective to employ thirdparty cloud platforms than maintaining an in house system, according to Multisoft. [3]
  • According to Salesforce, 94% of businesses report significant online security improvements after moving their data to the cloud. [3]
  • Furthermore, a massive 91% state cloud tech proves immense help when dealing with government compliance requirements. [3]
  • Clouds 247 Research from Clouds 247 revealed that 60% of businesses intend to employ this emerging technology in the next 18 months. [3]
  • IT infrastructure revolved around the 45% mark. [3]
  • 71% of enterprises look for speed improvements, 63% want greater flexibility, and 57% pick the improved customer support as reason #1. [3]
  • A report from IDG revealed that 71% look for speed improvements, 63% want greater flexibility, and 57% pick improved customer support as the number one reason according to IDG. [3]
  • Email management remains steadily high at 66%, while file storage purposes have increased by a whopping 15%. [3]
  • Of all the cloud services, management tools and security services are expected to be the fastest growing segments with a 28.4% improvement. [3]
  • In 2021 alone, enterprises are predicted to invest over 3.5 million, according to IDG. [3]
  • Breaking down the report from ADG, the majority of the budget will be allocated for SaaS platforms (48%), while the rest will be split between IaaS (30%) and PaaS (21%). [3]
  • Cloud computing is the #1 most in demand hard skill, according to LinkedIn. [3]

I know you want to use Cloud Cost Management Software, thus we made this list of best Cloud Cost Management Software. We also wrote about how to learn Cloud Cost Management Software and how to install Cloud Cost Management Software. Recently we wrote how to uninstall Cloud Cost Management Software for newbie users. Don’t forgot to check latest Cloud Cost Management statistics of 2024.

Reference

  1. techjury – https://techjury.net/blog/cloud-computing-statistics/.
  2. datacenterknowledge – https://www.datacenterknowledge.com/cloud/survey-most-companies-are-failing-cloud-cost-management.
  3. cfo – https://www.cfo.com/corporate-finance/2021/02/special-report-cloud-control/.
  4. findstack – https://findstack.com/cloud-computing-statistics/.
  5. flexera – https://www.flexera.com/blog/cloud/cloud-computing-trends-2024-state-of-the-cloud-report/.
  6. rackspace – https://www.rackspace.com/solve/three-cost-management-stats-it-leaders-cant-afford-ignore.
  7. helpnetsecurity – https://www.helpnetsecurity.com/2021/02/03/cloud-budget-overruns/.
  8. zdnet – https://www.zdnet.com/article/cloud-cost-control-becoming-a-leading-issue-for-businesses/.
  9. capgemini – https://www.capgemini.com/2020/12/prioritize-cloud-cost-management/.
  10. statista – https://www.statista.com/topics/8353/cloud-financial-management/.
  11. zylo – https://zylo.com/blog/9-stats-that-prove-the-importance-of-cloud-cost-optimization/.
  12. alithya – https://www.alithya.com/en/insights/out-of-the-box-features-profitability-and-cost-management-cloud-services-pcmcs-system-reports-leverage-execution-statistics-to-optimize-your-pm-application.
  13. alithya – https://www.alithya.com/en/insights/ootbfeaturesprofitabilityandcostmanagementcloudservicespcmcssystemreportsstatistics.
  14. flexera – https://info.flexera.com/CM-REPORT-State-of-the-Cloud.
  15. gartner – https://www.gartner.com/en/documents/3982411.

How Useful is Cloud Cost Management

One of the main benefits of cloud cost management is its ability to provide organizations with visibility into their cloud spending. By analyzing and monitoring their cloud usage, organizations can gain insights into where their money is being spent, identify cost inefficiencies, and take steps to optimize their cloud spending. This visibility is essential for organizations looking to control costs, budget effectively, and make informed decisions about their cloud investments.

In addition to providing visibility into cloud spending, cloud cost management also helps organizations forecast and budget their cloud expenses accurately. By analyzing historical data and trends, organizations can predict future cloud costs more accurately, enabling them to allocate their resources effectively and avoid unexpected cost overruns. This proactive approach to cloud cost management can help organizations optimize their spending, reduce waste, and make better decisions about where to invest their resources.

Another key benefit of cloud cost management is its ability to enable organizations to implement cost-saving strategies effectively. By analyzing their cloud usage patterns and identifying opportunities for optimization, organizations can implement strategies such as rightsizing instances, switching to reserved instances, leveraging spot instances, and implementing cost allocation tags to reduce their cloud spending. These strategies can help organizations optimize their cloud usage, minimize waste, and lower their overall cloud costs significantly.

Moreover, cloud cost management can also help organizations enhance their overall cloud governance and compliance efforts. By tracking and analyzing cloud spending across different departments and projects, organizations can ensure that cloud resources are being used efficiently and in line with organizational policies and compliance requirements. This level of governance and control is crucial for organizations looking to manage their cloud spending effectively and avoid potential risks associated with cloud overspending and misuse.

Overall, cloud cost management is a valuable tool that can help organizations optimize their cloud spending, maximize their ROI, and achieve better visibility and control over their cloud resources. By implementing cloud cost management strategies and leveraging the right tools and technologies, organizations can effectively manage their cloud spending, make informed decisions about their cloud investments, and ensure that their cloud resources are being used efficiently and cost-effectively. As organizations continue to embrace cloud computing as a key enabler of digital transformation, cloud cost management will play an increasingly critical role in helping them achieve their business objectives and drive success in the cloud.

In Conclusion

Be it Cloud Cost Management benefits statistics, Cloud Cost Management usage statistics, Cloud Cost Management productivity statistics, Cloud Cost Management adoption statistics, Cloud Cost Management roi statistics, Cloud Cost Management market statistics, statistics on use of Cloud Cost Management, Cloud Cost Management analytics statistics, statistics of companies that use Cloud Cost Management, statistics small businesses using Cloud Cost Management, top Cloud Cost Management systems usa statistics, Cloud Cost Management software market statistics, statistics dissatisfied with Cloud Cost Management, statistics of businesses using Cloud Cost Management, Cloud Cost Management key statistics, Cloud Cost Management systems statistics, nonprofit Cloud Cost Management statistics, Cloud Cost Management failure statistics, top Cloud Cost Management statistics, best Cloud Cost Management statistics, Cloud Cost Management statistics small business, Cloud Cost Management statistics 2024, Cloud Cost Management statistics 2021, Cloud Cost Management statistics 2024 you will find all from this page. 🙂

We tried our best to provide all the Cloud Cost Management statistics on this page. Please comment below and share your opinion if we missed any Cloud Cost Management statistics.

Leave a Comment