Cloud Adoption Statistics

Cloud Adoption Statistics: Key Stats You Should Know in 2024

Cloud Adoption Statistics: Key Stats You Should Know in 2024

In the tapestry of our lives, woven by the threads of innovation, the ‘cloud’ has become the linchpin that holds it all together.

As you sip your morning coffee and scroll through your emails or share family photos that bring tearful smiles across miles, the cloud is that silent confidant.

In 2024, it’s no longer just a buzzword; it’s as essential as that comforting cup of joe.

But have you ever paused to think, “What’s really behind that fluffy, intangible cloud?”

Today, let’s embark on an odyssey to unravel the cloak of mystery that shrouds this technological marvel.

With cloud adoption soaring to new heights, imagine the wind caressing your face as you soar above the digital landscape, witnessing a mosaic of human stories enabled by cloud technologies.

In this article, we’ll venture through eye-opening cloud adoption statistics that are as much about data and bytes as they are about aspirations and breakthroughs.

From businesses taking leaps to individuals finding connections, the cloud is the silent protagonist.

So, pour yourself a second cup, and let’s explore the wonders of cloud adoption in 2024 together.

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Key Statistics

  • The majority of enterprise workloads, around 83%, had shifted to the cloud by 2020.
  • Cloud expenditure was projected to approach $600 billion by the year 2023.
  • For 60% of organizations, cloud costs exceed initial expectations, proving to be higher than anticipated.
  • iCloud and Dropbox emerge as the most widely utilized free cloud storage services boasting a user base of 300 million.
  • Manufacturing Industry’s Cloud Spending Exceeded $5 Billion in 2019

Enterprise Cloud Adoption Statistics in 2024


1. Cloud Transition: The Majority of Enterprise Workloads, Around 83%, Had Shifted to The Cloud by 2020.

According to projections, by 2020, nearly 41% of enterprise workloads were expected to be running on public cloud infrastructure.

An additional 20% would utilize private clouds, while 22% would adopt hybrid cloud solutions.

Moreover, Forbes data indicated that by 2020, a mere 27% of workloads would remain on-premises, marking a 10% decline compared to the previous year.

This trend continued throughout the year, reflecting the shift towards cloud-based solutions.

 (Source: Forbes)

2. AI/ML Has Emerged as A Primary Workload Demand that Fuels the Adoption of Multi-Cloud Deployments.

In order to fulfill the demands of AI/ML workloads, modern technology leaders require cloud infrastructure that can cater to these needs.

They often resort to utilizing multiple cloud providers in addition to their primary one.

Based on research conducted by Enterprise Strategy Group, 39% of respondents identified AI/ML as a primary workload or workload requirement that led them to employ other cloud providers.

Other prominent requirements include application development and testing (39%), database clustering (33%), and global service delivery (31%).

(Source: Enterprise Strategy Group)

3. Cost Reduction Takes the Lead as the Primary Motive for 61% of Companies Embracing Cloud Adoption

Based on a survey conducted among 166 IT leaders, various factors drive enterprises to transition their computing operations to the cloud.

The foremost reason, cited by 61% of respondents, is the organization’s objective to reduce costs.

Close behind, 57% of participants highlight the aspiration for enhanced features and capabilities as a key driver.

In the case of 30% of enterprises, the adoption of cloud technology is prompted by the need to address capacity limitations in their existing data warehouses.

Furthermore, 23% of companies attribute their move to the cloud to an “executive mandate,” while other specific reasons are mentioned by only 12% of respondents.

(Source: Datometry)

4. Organizations Intend to Direct Their Investments Towards Innovation in The Upcoming Five Years.

Around 75% of enterprises have intentions to invest in new technology platforms to foster the exchange of innovation.

Additionally, other notable areas of focus include allocating resources for additional training programs on innovation (64%), updating hiring policies to incorporate diverse ideas and approaches (53%), and enhancing data gathering and analysis processes to facilitate informed decision-making (42%).

(Source: Create a Culture of Innovation)

5. the Desire for Flexibility Drives Decision-Making Regarding Multicloud Adoption, and The Specific Type of Flexibility Sought After Varies Across Industries.

Performance flexibility, cited by 35%, stands as the primary reason for utilizing multiple public cloud infrastructure providers.

Moreover, industry considerations influence the prioritization of IT leaders. For instance, healthcare organizations (45%) place a stronger emphasis on cost flexibility.

Retail (48%) and technology (45%) organizations prioritize enabling teams to use their preferred cloud platforms.

Finance organizations (43%) strive to avoid vendor lock-in.

(Source: Enterprise Strategy Group)

Financial Statistics Behind Cloud Adoption

6. The Majority of Companies Have Not yet Embraced Cloud FinOps.

According to a 2022 survey conducted among practitioners of cloud financial operations (FinOps), out of the 572 respondents who provided a response regarding the maturity level of their cloud FinOps efforts, 37.1% were in the initial “establishment” stage, prioritizing the fundamentals.

Another 41.7% were in the subsequent “progression” stage, where practitioners had developed practices but had yet to fully optimize them.

Merely 19.5% of participants had reached an advanced stage of maturity, where cloud FinOps had become a regular and integral part of their business operations (referred to as the “execution” stage).

The remaining respondents fell into the category of the initial stage of development (referred to as the “pre-establishment” segment).

(Source: FinOps Foundation)

7. Automated Cloud Cost Optimization Policies Offer the Benefits of Time Savings and Reduced Unnecessary Expenses.

Over 40% of technical and business professionals utilize automated policies to shut down workloads during non-operational hours and to optimize underutilized instances.

By employing automated cloud cost optimization policies, organizations can effectively save time and maintain consistent monitoring of their environments, thereby eliminating unnecessary wastage.

(Source: Flexera 2022 State of the Cloud Report)

8. Cloud Expenditure Is Projected to Approach $600 Billion by The Year 2023.

According to the latest forecast by Gartner, Inc., global end-user spending on public cloud services is predicted to experience a 20.7% growth, reaching a total of $591.8 billion in 2023.

This figure represents an increase from $490.3 billion in 2022 and surpasses the projected growth rate of 18.8% for 2022.

(Source: Gartner)

9. For 60% of Organizations, Cloud Costs Exceed Initial Expectations, Proving to Be Higher than Anticipated.

As companies increase their investments in the cloud, only 40% of organizations find their cloud costs aligning with their initial expectations.

Related:  20 Surprising Internet Catfishing Statistics in 2024

Out of 1,000 respondents, approximately 490 mentioned that their cloud costs were slightly higher than anticipated, while 110 reported that their cloud costs were significantly higher than expected.

(Source: CloudZero)

Cloud Storage Adoption Stats


10. iCloud and Dropbox Emerge as The Most Widely Utilized Free Cloud Storage Services Boasting a User Base of 300 Million.

File storage remains a prominent use case for cloud services, with numerous paid options available alongside notable free alternatives.

Currently, iCloud on Mac and Dropbox stand out as the most popular free cloud storage services, attracting an impressive 300 million users each to their respective platforms.

(Source: Software Testing Help)

11. Within the European Union (EU), Cloud Computing Is Primarily Utilized for Email Services and File Storage, Accounting for 66% and 53% of Usage Respectively.

According to Eurostat research, notable shifts have been observed in the motivations behind cloud adoption.

While email management remains steady, there has been a significant 15% increase in the utilization of cloud services for file storage purposes.

Another emerging requirement is hosting company databases, particularly through virtual private server (VPS) hosting, which offers dedicated resources on the server through virtualization technology.

(Source: Eurostat)

12. Small and Medium-Sized Organizations with 1,000 or Fewer Staff Members Make Substantial Investments in Cloud Technology.

Within traditional small businesses, approximately 44% utilize cloud infrastructure or hosting services.

In contrast, small tech companies exhibit a higher adoption rate of 66%, while enterprises lead with 74% embracing cloud solutions.

Additionally, in the coming year, it is projected that the public cloud will host 63% of the small and medium-sized business (SMB) workloads and 62% of SMB data.

This highlights the growing reliance on public cloud services by SMBs for their workload and data management needs.

(Source: CloudZero)

13. In One out Of Every Five Organizations, Cloud-Based Workloads Make up 75% of The Total Workloads.

According to the survey, approximately 39% of respondents are currently operating at least 50% of their workload on the cloud.

Additionally, 58% of participants expressed intentions to shift that much workload to the cloud within the next 12-18 months.

Looking ahead, by the end of 2023, 31% of organizations anticipate running 75% of their workloads in the cloud.

Furthermore, around 27% of organizations plan to migrate at least half of their business processes to the cloud by that time.

(Source: Fortinet)

Cloud Adoption Statistics Across Different Industries


14. Cloud Technology to Transform the Banking Industry: 74% of Experts Predict a Significant Impact by 2021

According to research conducted by The Economist, cloud technology plays a crucial role in the banking industry.

The study reveals that 74% of experts foresee a substantial transformation in the sector by 2021.

Notably, cloud adoption shows notable significance in supporting sectors, with 68% of experts highlighting its vital role in facilitating new payment methods.

Furthermore, cloud technology is deemed crucial by 60% of experts for reducing banking costs, while 57% acknowledge its significance in delivering banking services to remote populations.

These findings emphasize the potential of cloud technology to revolutionize various aspects of the banking industry.

(Source: The Economist Intelligence Unit)

15. Manufacturing Industry’s Cloud Spending Exceeded $5 Billion in 2019

The manufacturing industry made significant investments in cloud services, exceeding $5.18 billion in spending during 2019.

This substantial expenditure has resulted in a consistent growth rate of 23% in recent years.

Furthermore, the worldwide expenditure on cloud enterprise resource planning (ERP) software is projected to increase from $19.1 billion in 2017 to $28.8 billion by 2028, with a compound annual growth rate (CAGR) of 7%.

Remarkably, the adoption of cloud technology in the manufacturing sector is noteworthy.

As per IDC, discrete manufacturing took the lead by investing nearly $20 billion in public cloud services in 2018, followed by process manufacturing, which exceeded $10 billion in cloud expenditures.

With cloud computing enabling faster and more accurate manufacturing operations, these figures are anticipated to continue their upward trajectory.

(Source: Manufacturing)

16. Financial Services and Cloud Adoption: 70% of Companies in Early Stages

Cloud adoption in the financial services sector is still in its early phases, with approximately 70% of companies currently in the initial “trial and testing” stage.

Compared to other industries, financial services exhibit slower progress in embracing cloud technology.

Nevertheless, these organizations have well-defined strategies for the future.

A significant 60% of businesses in the sector anticipate adopting a multi-cloud IT environment, incorporating both internally hosted and externally hosted cloud infrastructure.

Only 18% plan to rely exclusively on public cloud solutions.

While financial services organizations have a preference for processing workloads internally using private cloud solutions, they recognize the advantages of a multi-cloud architecture.

Experts agree that it enhances application performance (62%), ensures compliance with regulatory requirements (43%), and reduces costs (40%).

Interestingly, financial services demonstrate higher rates of cloud adoption when compared to the overall survey samples.

This is evident in the adoption of public Infrastructure-as-a-Service (51% vs. 46%), on-premises private cloud (49% vs. 37%), and Platform-as-a-Service (39% vs. 31%).

Despite initial hesitancy, the sector is actively embracing cloud technology.

(Source: InformationAge)

Other Interesting Cloud Adoption Statistics

17. Cloud Migration Soared in 2020: 61% of Businesses Shifted Workloads

In 2020, an impressive 61% of businesses migrated their workloads to the cloud, showcasing the significant uptake of cloud adoption.

The COVID-19 pandemic brought about substantial changes for businesses, particularly in the United States.

To ensure the safety of their employees, many organizations swiftly implemented remote work plans.

Such a transition would not have been possible without the adoption of cloud technology, which enabled seamless collaboration and remote access to essential resources.

The impact of cloud adoption during this challenging period cannot be overstated.

(Source: Zippia)

18. Public Cloud Market to Expand by $482 Billion in 2022

As per cloud computing statistics for 2022, the public cloud market is projected to witness significant growth, amounting to a substantial $482 billion increase.

This expansion reflects a 22% growth rate, highlighting the industry’s rapid development.

(Source: Ignitech)

19. Public Cloud to Capture Over 45% of Total Enterprise IT Spending

Cloud computing facts for 2022 indicate a significant surge in the industry’s growth.

Experts anticipate a substantial shift in enterprise spending on information technology toward the public cloud.

Projections suggest that by 2026, the public cloud will account for over 45% of total enterprise IT spending, reflecting its increasing dominance and importance in the technology landscape.

(Source: TechRepublic)

20. Over $1.3 Trillion in IT Spending to be Impacted by Cloud Shift by 2022


The shift to cloud technology is predicted to have a profound effect on IT spending, surpassing $1.3 trillion by 2022.

Gartner recommends that technology providers assess the growth of cloud adoption as a market opportunity indicator.

Among the four cloud categories—system infrastructure, infrastructure software, application software, and business process outsourcing—application software witnesses the largest shift, with 36% of companies migrating from alternative hosting methods to the cloud.

In 2019, system infrastructure accounted for the smallest portion, with only a 13% shift.

By 2022, application software is expected to maintain its dominance, representing a projected 40% of IT spending, while system infrastructure is projected to shift by 20% towards cloud solutions.

This highlights the significant impact of the cloud shift on IT spending across various sectors.

(Source: Gartner)


How Is the Global Market for Cloud Services Projected to Grow?

The global market for cloud services is projected to grow significantly.

This is due to the increasing reliance of businesses on cloud-based solutions for various applications, including data storage, disaster recovery, customer relationship management, and more.

Which Industries Are Leading in Cloud Adoption and Why?

The industries leading in cloud adoption include technology, financial services, healthcare, and manufacturing.

This is due to their need for data storage, data analysis, customer relationship management, and collaborative tools, which the cloud effectively provides.

How Are Cloud Services Influencing Business Innovation and Resilience?

Cloud services are proving essential for business innovation and resilience by providing flexible and scalable solutions that support business continuity.

They help businesses adapt to market changes quickly and encourage innovation by allowing quick testing of new ideas without significant upfront investment.


The landscape of cloud technology is rapidly evolving, driving a surge in cloud adoption globally.

Businesses continue to recognize the strategic importance of cloud services for cost reduction, operational efficiency, and business agility.

As 2024 unfolds, an increasing number of enterprises and SMBs alike are leveraging cloud platforms for their innovation initiatives, bolstering the resilience and scalability of their IT operations.

The future is certainly cloudy but in the most positive way.


ForbesEnterprise Strategy GroupDatometry
Create a Culture of InnovationEnterprise Strategy GroupFinOps Foundation
Flexera 2022 State of the Cloud ReportGartnerCloudZero
Software Testing HelpEurostatFortinet
The Economist Intelligence UnitManufacturingInformationAge
Written by Husain Parvez
Husain has been around the internet ever since the dial-up days and loves writing about everything across the technosphere. He loves reviewing tech, writing about VPNs, and covering Cybersecurity news.