Cloud Technology Technology

3 Recent Developments in the Cloud Service Industry

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One of the technological breakthroughs of recent times, cloud computing has taken the IT industry by storm. The technology revolutionized the way files are stored and shared and witnessed a faster adoption than any other technology in the domain. This fast adoption is driven mainly by the increasing penetration of smartphones and mobile devices that can access the internet. Cloud computing came as a boon to businesses as they offer tremendous benefits to them such as efficiency in operations via easy data accessibility, cost savings, speed to market, and data security. Cloud infrastructure also supports fluctuating workloads, allows organizations to determine their level of control with¬ as-a-service options including software as a service (SaaS), platform as a service (PaaS), and infrastructure as a service (IaaS), facilitates greater collaboration, offers automatic updates, and allows faster recovery of data.

The market for cloud services is experiencing a rapid boom in recent times owing to economic benefits offered by cloud services, their functional capability, easy accessibility of data offered by them, rise in the number of small and medium enterprises, and elevated business performance. As per Allied Market Research, the cloud services market is estimated to reach $555 billion by 2020 from $209.9 billion in 2014, thereby growing at a CAGR of 17.6% during the forecast period 2014–2020.

Companies are adopting various strategies to expand their presence worldwide and come up with innovative solutions. For instance, Aiven, a provider of managed cloud database and messaging services raised a sum of €8 million in a Series A funding round led by Earlybird Venture Capital with the aim of enhancing the company’s cloud data platform as well as extending their global reach. Huawei Cloud, a provider of cloud services, signed an agreement on their partnership with the IT firm, Infosys in order to develop solutions pertaining to cloud computing services for businesses. The blockchain startup, Digital Asset recently formed a collaboration with VMware, a cloud computing company with the intention of integrating its Digital Asset Modelling Language (DAML) into the latter’s blockchain platform.

Aiven Raises Funds to Improve its Platform and Enhance its Business

The funds raised by Aiven will be used to improve its cloud data platform with more integrated solutions and make its presence felt worldwide. According to Oskari Saarenmaa, the co-founder and CEO at Aiven, as several firms are now implementing their real-time data platforms in the cloud, the funds would allow them to better serve their needs. Hendrik Brandis, the partner and co-founder of Earlybird, said, “Aiven’s ability to outcompete established market players and build a highly capital efficient international business is impressive. We’re eager to become a part of the story and continue growing the company.”

Huawei Cloud Forms Alliance with Infosys

Huawei Cloud and Infosys announced their strategic partnership in April 2019. The deal is aimed at helping customers to safely and quickly adopt cloud-based systems for their enterprise workloads. As per the agreement, Infosys collaborates with the Huawei Cloud Partner Network (HCPN) to create new solutions related to cloud computing services for businesses by taking advantage of Huawei Cloud and Infosys products and services. According to Ravi Kumar S, President at Infosys, they would offer several technologies hosted on Huawei Cloud, such as workload migration solutions.

Digital Asset Partners with VMware

Digital Asset recently announced its partnership with VMware. As per the alliance, the former combines its Digital Asset Modelling Language (DAML) into the latter’s blockchain platform. The integration of the two offerings allows for a bigger reach and support. Digital Asset Modelling Language is known to be a language for smart contracts which can model highly complex workflows at scale. Michael DiPetrillo, senior director of Blockchain at VMware, said, “DAML has been proven to be one of the few smart contract languages capable of modeling truly complex workflows at scale.”

About the author


Sharmistha Sarkar

Sharmistha Sarkar has always had a keen interest in reading and writing. Though an engineering graduate, she forayed into the field of writing due to her love for words and the urge to do something different. Allied Market Research has given her the chance to gain knowledge about different subjects as a senior content writer.