Cloud FinOps is a growing field that focuses on optimizing the financial performance of an organization’s cloud computing resources. As cloud computing continues to gain in popularity, there is an increasing need for organizations to find ways to optimize their cloud spending and ensure that they are getting the most out of their investment. In this post, I will focus on some of the key trends that are expected to shape the field of Cloud FinOps in 2023.
1. The Growing Adoption of Cloud Computing
One of the biggest trends that is expected to continue in 2023 is the increasing adoption of cloud computing by organizations of all sizes. In fact, it is estimated that the global cloud computing market will reach a value of $623.3 billion by 2023, up from $371.4 billion in 2018. This growth will create a corresponding increase in the demand for tools and services that can help businesses manage and optimize their cloud spending.
2. The Increasing Focus on Automation in Cloud FinOps
Another trend that is expected to gain momentum in 2023 is the increased focus on automation in the field of Cloud FinOps. Automation is expected to play a key role in helping organizations improve their efficiency and reduce costs. In fact, it is estimated that the global cloud automation market will reach a value of $12.5 billion by 2022, up from $5.5 billion in 2017. This growth will likely drive the development of new tools and services that can automate various aspects of cloud management.
3. The Continued Emphasis on Data and Analytics
In addition to automation, 2023 is also likely to see a continued emphasis on the use of data and analytics in the field of Cloud FinOps. By using data and analytics, organizations will be able to gain a better understanding of their cloud usage and spending, and identify areas where they can make improvements. This is expected to drive the growth of the global cloud analytics market, which is projected to reach a value of $19.5 billion by 2022, up from $7.8 billion in 2017.
4. The Growing Adoption of Hybrid and Multi-Cloud Environments
Additional trend that is expected to continue to gain traction in 2023 is the growing adoption of hybrid and multi-cloud environments. Many organizations are realizing the benefits of using a combination of on-premises and cloud-based resources, as well as leveraging multiple cloud providers. This allows them to take advantage of the unique capabilities of each cloud platform, as well as providing greater flexibility and resilience. In addition, the use of hybrid and multi-cloud environments can help organizations optimize their cloud spending by allowing them to take advantage of the best pricing and service offerings from multiple providers. As a result, we can expect to see an increasing focus on managing and optimizing hybrid and multi-cloud environments in the field of Cloud FinOps in 2023.
5. The Growing Importance of Collaboration in Cloud FinOps
One final trend that is expected to gain traction in 2023 is the growing importance of collaboration in the field of Cloud FinOps. As organizations continue to adopt cloud computing, they will increasingly need to work with other teams and departments within their organization to ensure that their cloud resources are being used effectively. This will require the development of new collaboration tools and processes that can help teams work together more effectively to manage their cloud resources.
Overall, 2023 is shaping up to be an exciting year for the field of Cloud FinOps. With the increasing adoption of cloud computing, the growing emphasis on automation and data analytics, and the increasing importance of collaboration, there are many trends that are likely to shape the field in the coming year. As a result, organizations that want to stay ahead of the curve and optimize their cloud spending will need to stay up-to-date on these trends and make sure that they are taking advantage of the latest tools and technologies.
