Cloud computing market competition only poised to help shoppers
The cloud computing market frequently goes through ebbing and flowing period depending on how its providers want to approach the market. Some companies are increasing their levels of competition, which may seem like a problem but will only help out consumers.
According to Quartz, Amazon and Google are two of the world's biggest cloud providers, and they're increasingly preparing for battle. Google recently cut the costs of most of its cloud products, which placed their prices below where Amazon's were located. At the same time, Google also added new cloud services in an attempt to sway the market away from its competitors.
Google's efforts in this light aren't just positioning them as a strong competitor in the market but likely helping the entire cloud market differentiate itself from different corners of the overarching IT jobs market. Added competition between cloud computing markets is expected to only drive down prices and make product features better in an attempt by companies to differentiate themselves from the pack. In doing so, they'll have a number of improvements and help push their efforts even farther. The industry has been reported to be worth $1.4 trillion dollars and that figure's growing fast, so more and more companies will only make the cloud more affordable and more accessible.
Price wars lead to better competition
Inc Magazine adds that there's more competition in the market than these two companies. Microsoft, as well, has also dropped its prices, with the overall market prices having fallen by as much as 85 percent. With companies spending as much as $13.3 billion this year on renting better computing power from other providers, that market is only going to expand much farther. Some businesses are said to spend more than $1,000 per month on their hosting power, for example, and predicted growth will only help their efforts. New services may lead to those costs dropping from between 60 and 75 percent.
That factor is becoming more important as more companies are adding to their current cloud means. One survey cited by the news source saw as many as 87 percent of tech executives say they outsource their computing power for at least one business need. With such high relative expenses throughout the market, these new practices are only going to help businesses everywhere better approach the market. These moves could even spur a large migration to the services in the near future.