Cloud computing has solidified its position as the preferred platform for large applications and driver of innovation in enterprise technology. According to Gartner, public cloud spending is expected to reach $675 billion in 2024, up 20% from 2023, and further increasing to $824 billion in 2025.

The growth is fueled by the rise of AI and machine learning on the cloud, adoption of edge computing, and the maturation of serverless computing. Additionally, multicloud strategies, improved security and privacy, and more sustainable cloud practices are contributing to the surge. As a result, hyperscalers such as AWS, Google Cloud Platform, and Microsoft Azure are dominating the cloud services market.

The impact of cloud computing on the tech and startup community is significant, enabling businesses to accelerate innovation, improve scalability, and reduce costs. With the cloud playing a central role in the next chapter of AI-enabled digital innovation, startups and enterprises alike are poised to benefit from the endless parade of exciting new technologies and services being debuted by major cloud providers.