Jun 24, 2024 • 9 Min Read

Cloud Computing Overview

The creation of the internet has had a significant impact on how enterprises are run and managed. Prior to the internet, companies were required to invest in on-premises infrastructure such as physical hardware, servers, networking equipment, and software applications.

The internet has enabled the creation of cloud computing, or the ability for businesses to access traditional infrastructure via the internet. There are three main segments of cloud computing:

  • Infrastructure-as-a-service (IaaS) – Rent hardware like virtual machines, CPUs, GPUs, datacenters, and servers on an as-needed basis.
  • Platform-as-a-service (PaaS) – Develop, run, and manage applications without investing in any underlying infrastructure.
  • Software-as-a-service – Build applications via the cloud and make them accessible to users over the internet (any application built via a cloud provider).

SaaS solutions have become the most prevalent of the three categories as they remove many overhead costs of physical infrastructure, but IaaS is becoming more prevalent due to new use cases like artificial intelligence and machine learning.

The Opportunity

The cloud computing market was worth over $500 billion in 2023 and is expected to grow to approximately $2.3 tri...

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