Wednesday, 05 August 2020 17:19

Why Work-from-home Will Mean Big Cloud Computing Growth

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(New York)

Cloud computing is a red hot area of tech. Amazon’s AWS division gets most of the attention, but the whole sector has grown greatly in total revenue over the last couple of years. Heavy growth is forecast to continue through the early 2020s, but there is an x-factor that may give a big boost to cloud stocks which the market is not pricing. That x-factor is the fact that work-from-home is sending the demand for cloud services much higher than baseline forecasts. With distributed workforces, the need for cloud-based computing is higher than if workers were in offices. For example, Audi’s cloud spend grew 12% in just a month between March and April.

FINSUM: So WFH is a great tailwind for cloud computing. The only challenge is that the costs for companies have been soaring so much that they are trying to renegotiate them back down. Overall, seems a big net positive.

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