The trend of digital transformation has brought with it some of the most impactful technological innovations the world has seen in recent history. Things like automation, machine learning, and artificial intelligence, which once only existed as science fiction, are now real options for enterprises and consumers when it comes to handling daily tasks. However, one of the first technologies of the digital revolution, cloud computing, has truly revolutionized the way business gets done.

Many organizations have already made the shift to the cloud. By the end of 2022, U.S. cloud spending is expected to reach $90 billion, a 27.8 percent growth compared to 2021. In total, the cloud computing industry market is expected to grow by $287.03 billion between 2020-2025, with experts estimating there will be 175 zettabytes of stored data on the cloud by 2025, a 61 percent increase from today.

“The rapid growth of Infrastructure as a Service is not unexpected, as between cloud computing, hosting, and storage, the technology has numerous benefits to offer enterprises,” said Ryan Walsh, Chief Operating Officer of Pax8, one of the top global cloud marketplaces for SMEs. “For example, cloud computing can offer advantages in relation to cost, speed, reliability, productivity, performance, and security, enhancing each aspect individually to benefit the company. Cloud storage, for example, makes remotely updating and sharing files easier, while also backing up files and keeping them encrypted from would-be cyber attackers.”

To handle all the processes done by cloud technology, enterprises must make sure they are investing in adequate cloud infrastructure technology.

“Cloud computing infrastructure is the collection of hardware and software elements needed to enable cloud computing, including computing power, networking, and storage, as well as an interface for users to access their virtualized resources,” Walsh explained. “The virtual resources mirror a physical infrastructure, with components like servers, network switches, memory, and storage clusters. We bring this all to our MSP customers as a service, so they can pass this along to their customers.”

Cloud infrastructures support environmental proactivity, powering virtual services rather than physical products and hardware, cutting down on paper waste, improving energy efficiency, and (given that it allows employees access from anywhere with an internet connection) reducing commuter-related emissions The systems also allow for integrated hardware and software and can provide a single management platform for multiple clouds.

The cloud system infrastructure market is forecasted to grow by 30.5 percent in 2023 compared to 2022, as more enterprises in all industries begin to leverage the cloud. However, as more companies look to leverage cloud infrastructure, they must first make sure they are adopting an infrastructure solution that not only helps solve the unique problems their company deals with, but also fits the capabilities of their organization’s resources. To find this perfect match when it comes to cloud infrastructure, many enterprises are turning to cloud marketplaces.

A cloud marketplace is an online software-as-a-service (SaaS (News - Alert)) environment where customers can buy and manage cloud-based applications and licensing. 

It typically provides customers with native cloud applications and approved apps created by third-party developers.

“Applications from third-party developers not only help us fill niche gaps in its portfolio and meet the needs of more MSPs and their customers, but they also provide peace of mind by knowing that all purchases from the vendor's marketplace will integrate with each other smoothly,” Walsh said.

Cloud marketplaces have already attracted a variety of both vendors and customers, even while still being a relatively new concept.  In fact, a survey found that 77 percent of buyer respondents have some enterprise cloud agreement (EA) in place, and of those,?90 percent say they plan to purchase via Marketplace in the future. In total, analysts at Canalys estimate these marketplaces will account for around $25B in cloud spending by 2025.

The rapid growth can be attributed to not only the advantages to both buyer and seller that these marketplaces offer, but also because of the sheer volume of options that the marketplaces provide, once again for both vendors and customers.

For example, Pax8 “as a service” offerings in the cloud infrastructure space include:

• AWS: The world’s most comprehensive and broadly adopted cloud platform, offering over 200 fully featured services from data centers globally the ability to lower costs, become more agile and innovate faster.
• IONOS by 1&1 (News - Alert): A web hosting and cloud partner for small and medium-sized businesses that offers reliability, security, and a self-built data center network that delivers optimal performance and geo-redundancy
• Microsoft (News - Alert): The leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more
• Nerdio: Empowers Managed Service Providers (MSPs) to build and rapidly grow successful cloud practices in Microsoft Azure by delivering easy deployment, packaging, pricing, ongoing management, cost-optimization, and security of IT environments
• NetApp: A global, cloud-led, data-centric software company that empowers organizations to lead with data in an age of accelerated digital transformation. The company provides systems, software, and cloud services that enable them to run their applications optimally, from the data center to the cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloud-like experiences on premises
• Printix:  Provides a simple, affordable, and scalable cloud-based print management solution, offering a way to install, operate, maintain, replace, manage and optimize complex print environments with a goal to reduce complexity, improve efficiency and lower the cost of office printing.
• Wasabi: A hot cloud storage company delivering disruptive storage technology that is 1/5th the price of Amazon S3 and faster than the competition with no fees for egress or API requests

Overall, the cloud has already become near commonplace in the business world, as enterprises use it as the starting point for their journey through digital transformation, helping connect the variety of devices and applications in play. And as technological innovation continues, the cloud is only going to become more critical as technology becomes more complex. Obtaining a capable cloud infrastructure is crucial for any organization looking to compete in the digital era, with cloud marketplaces being just the spot to find the solution necessary to thrive.