The Ever Higher Rise of Cloud Computing Benefits TEA Project
Running essential business functions in the cloud allows companies to abstract out compute cycles, saving time and money. In the past, companies only had the option to maintain their own servers and deal with the related tech costs. The movement to the cloud has started to accelerate with businesses around the world choosing to shrink their real estate footprints and needing more computing resources to support a remote work force.
Because of increasing costs of servers and a skilled IT department to administer it, more companies are adopting a cloud-first approach when more compute resources are needed. But most companies are still spending a majority of their tech spend on-premise. This leaves plenty of room for cloud computing demand to grow as the business world continues to move towards on-demand, scalable virtual servers.
The three major cloud service providers — Amazon, Google, and Microsoft — stand to reap a large number of new companies as customers as they transition away from on-premise and into the cloud.
Cloud computing continues to be very profitable especially for the largest providers. For example, AWS, Amazon’s’ cloud segment, accounted for nearly 75% of the company’s 2021 income in 2021. These profits have allowed Amazon to make big bets in e-commerce and even acquire Whole Foods. Looking at the entire sector, the global cloud computing industry to grow by approximately 16% every year forecasted out to 2030.
Alternates to the Big 3 Cloud Providers
The old saying “a rising tide lifts all boats” is also applicable to cloud computing, with the increased demand for cloud computing also providing new customers for the smaller niche players in the space. Over 25% of businesses have adopted alternative cloud providers like Linode, DigitalOcean, and OVH.
One of the drivers leading businesses to alternative cloud providers has surprisingly been the simplicity of the user interfaces. Booting up a server with Linode or DigitalOcean is a relative breeze compared to navigating AWS’s bureaucratic front-end. But the biggest driver seems to be a desire to diversify away from the largest providers and for businesses to build a multicloud environment.
TEA Project Will Also Benefit From the Growing Reliance on the Cloud
Everyone in the IT space knows how much the cloud computing sector is growing though it may be a surprise to others. The TEA Project has already done a quick run through the numbers and it looks like taking even a small percentage of this market would be incredibly huge.
TEA Project Disrupting Cloud Computing: Market Size Estimation
Market Size Estimation (Absolute or Benchmark)
The TEA Project is seeking to disrupt the web 2.0 world of centralized cloud computing and on-board a whole new era of developers onto Web3. Our tech stack is not only decentralized but completely secure and censorship-free.
TEA Project: Security, Reliability, and Robustness
Availability, Reliability, Robustness — All Technically Achievable With the TEA Project
There’s the issue of being censored and having your app taken offline, which will be a concern for more controversial web 2.0 companies. But it’s not just censorship but also the rampant security risks that plague centralized cloud providers that could have companies seeking a more secure architecture.
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The world of Web3 will be different compared to web 2.0, no doubt, but TEA Project has made the transition as easy as possible. Our use of Webassembly allows devs to continue using the programming languages they’re already familiar with. In addition, we also have a performant database for developers to tap into that’s separate from any blockchain.
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After reading this post, we’d like to ask the question to you as the reader: how much of the centralized cloud computing market share will Web3 providers like TEA Project be able to wrestle away from the current roster of cloud providers? Please share your opinions by jumping into our Telegram group: https://t.me/teaprojectorg