Cloud technology plays an integral role in the world economy today. During the early- and mid-2000s, cloud services experienced rapid growth and strong adoption rates. Then the 2020 COVID-19 pandemic pushed cloud adoption to new heights. Companies sped up migration to the cloud from on-premises
data centres to enable remote work and enhance business continuity.

Today, cloud adoption continues its momentum worldwide. According to research and advisory firm Markets and Markets, global spending on cloud services is expected to grow from USD $445.3 billion in 2021 to USD $947.3 billion by 2026. In North America, 61% of businesses had migrated their workloads to the cloud by 2020, and 67% of North American enterprise infrastructure is now cloud-based, according to Zippia. In the U.S. alone, the cloud computing and hosting market grew by 535% between 2010 and 2020. In Europe, cloud computing spending
reached 63 billion euros in 2021 and is forecast to reach 560 billion euros by 2030.