Survey: 80% of companies derive revenue from the cloud

Dive Brief:

  • More than 40% of companies now obtain 50% or more of their business through cloud-based applications, according to the Future of Cloud Computing Survey from growth equity and venture capital firm North Bridge and research analyst firm Wikibon. The survey had 1,351 responses. 
  • Nearly 80% of the companies surveyed say they now derive at least some revenue from the cloud.
  • They survey found sales and marketing, business analytics and customer service are the services businesses most likely to move to the cloud first.

Dive Insight:

Clearly, digital transformation is in full swing across many areas and companies want to quickly move to and profit from the cloud.

The responses indicate many companies are being strategic about their shift to the cloud and ensuring they move the areas that are most likely to pay off first.

The hybrid model is still the predominant cloud strategy, according to the survey, with 47% of respondents choosing a hybrid path, allowing them to benefit from the advantages of both public and private clouds.

"Cloud environments will remain predominantly hybrid in the coming years, enhancing the importance of a clearly defined cloud governance and orchestration strategy to optimize for security, self-service and agility, while minimizing costs," said Holly Maloney McConnell, Principal at North Bridge.

Filed Under: IT Strategy Cloud Computing