Cloud storage is one of the most important technological businesses for three sector giants: Amazon, Microsoft, and Google. Although this sector has left us with some bizarre stories, such as the one where a user was advised by Microsoft to pay a subscription to solve their problems, it has become one of the most profitable for all companies involved. Or at least that’s what they claimed, as a recent report has managed to prove otherwise.
As indicated by the TechSpot portal in a recent publication, the three main cloud providers have not managed to keep computing costs under control. Thus, the increase in spending related to this service has caused concern among companies and professionals who depend on this service. And, as a direct consequence, a Civo report based on a survey of over 500 industry professionals revealed that, unfortunately, the cloud is no longer as economical or convenient as it used to be.
Nearly 6 out of 10 respondents say they pay more
According to the survey data, 77.4% of participants revealed that they use Amazon Web Services, Microsoft Azure, or Google Cloud, a figure that demonstrates the impact of the three major dominators of the sector. Unfortunately, in the last 12 months, 59% of the surveyed organizations experienced an increase in their cloud expenses, as prices for specific configurations (such as a node cluster with 200 GB of storage or 5 TB of data transfer) significantly rose in Azure, Google Cloud, and Amazon.
Thus, Azure costs increased from just over 900,000 euros in 2022 to well over 1 million euros in 2024, a situation similar to what is happening in Google Cloud and Amazon Web Services. Therefore, Civo highlights that these prices increase faster than inflation, which is why customers pay more for the same value. Consequently, many companies are already starting to consider migrating part or all of their work to a dedicated environment in the next two years, a possibility that would worsen the situation of cloud services.
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