Tech Trends 2024: 9 Cloud Platform Trends to Watch

Tech Trends 2024: 9 Cloud Platform Trends to Watch

Predicting what the future might hold can seem complex, but it’s often simpler than it seems. All we really need to do is look at the past, and consider the challenges of the present to discover what kind of innovations are going to drive the world forward in the years ahead.

For instance, we know how that spending on cloud computing infrastructure is expected to exceed $1 trillion for the first time in 2024. There are various reasons for this growth, from the evolving need for agility and scalability, to the rising demand for AI services.

In 2024, certain trends will continue to drive the rapid adoption of cloud technologies, while others shape the way we invest in scalable solutions. Here are some of the major cloud platform trends worth watching as we head into the new year.

1. The Rise of Gen AI Supportive Infrastructure

Generative AI was one of the most significant tech trends in 2023, and it’s set to be equally as exciting for companies in the years ahead. Companies are investing in generative AI tools for everything from customer service management, to content creation.

Increasingly, however, today’s businesses are looking for opportunities to not just invest in standalone Gen AI tech, but also embed it into their existing operations and cloud platforms. This has prompted many innovators, from Microsoft, to Talkdesk, to begin developing the platform infrastructure required to support large language models and their functionalities.

Business leaders are even investing in solutions that allow companies to quickly customize and create their own generative AI solutions, such as Microsoft’s “Copilot Studio”. At the same time, we’re seeing the rise of “AI as a Service”, a new solution which will allow companies to access AI and generative tools on a pay-as-you-go basis, similar to using any SaaS platform. Again, Microsoft is an excellent example of this, with its $30 per month Copilot for Microsoft 365 kit.

2. Alignment in Cloud Platforms

The number of companies with a multi-cloud strategy is expected to increase from 76% to 85% during 2024, highlighting a growing need for more flexible cloud platforms. Platforms that support multi-cloud and hybrid cloud solutions are likely to become increasingly critical to business operations this year, as organisations seek to balance flexibility, and simplicity.

At the same time, we’ll see a growing level of extensibility in many cloud platforms, driven by the need for companies to align their ecosystems for better governance, compliance, and management. Increasingly, cloud platform providers in the UCaaS space, for instance, are offering companies the opportunity to connect their CPaaS, UCaaS, and CCaaS solutions under one banner, before integrating these tools with CRM and workforce management solutions.

As the cloud landscape and digital transformation continues to evolve, platform providers who can offer companies access to customisation and extensibility solutions will reign supreme.

3. Real-Time Cloud Infrastructure

Access to real-time data will be essential to many businesses leveraging cloud platforms in 2024. Increasingly, businesses need access to instant and accurate insights to guide business decisions, customer experience strategies and more. This means they can no longer rely on solutions that only offer historical reports and insights.

Increasingly, cloud platform providers are investing in solutions that can leverage automation and intelligence to analyse information from various sources. We’re even seeing an increase in customer data platforms, which can combine data from social media, business applications, contact centers, IoT devices and more to drive intelligent improvements in operational performance.

What’s more, the infusion of Copilot and AI assistants into the cloud platform should make it easier for companies to access the real-time insights they need at speed. Today’s virtual assistant tools can even deliver real-time coaching to agents based on immediate insights into customer sentiment and other factors.

4. Increased Focus on Security and Compliance

An increasing focus on security, privacy and compliance isn’t just one of the major cloud platform trends for 2024, it’s also one of the major trends that has influenced businesses for the last few years. As companies continue to digitally transform and move more data into the cloud, criminals are becoming more adept at breaching data platforms.

This is leading to increased investment in advanced tools that can help to mitigate and overcome risk. Solutions like automated real-time monitoring tools that can detect non-compliance in conversations, or pinpoint suspicious behaviour are becoming more common.

Cloud platform vendors are also working more closely with regulators and industry experts to improve security. For instance, Microsoft has it’s Compliance Cloud program, to assist businesses with building strategies that adhere to the needs of highly regulated environments.

5. Serverless and Pay-as-You Go Platforms

As companies continue to struggle with managing the costs of digital transformation, new, more cost-effective models are emerging in the cloud landscape. Serverless computing, for instance, eradicates the need for companies to oversee their server infrastructure. Serverless solutions charge only for the resources that companies use, helping to minimise expenses.

Additionally, pay-as-you-go models are becoming more common in virtually all aspects of cloud computing. Rather than charging companies based on the number of servers they need to host their infrastructure, companies will find new ways to ensure companies can keep their costs low.

Business leaders will also have the option to reduce their reliance on fixed plans and contracts, so they can adapt their expenses to their specific needs, and scale in a more agile format.

6. Sustainable Cloud Computing Platforms

Sustainability has become more than just a trend in recent years, it’s become a necessity. Around 4% of all greenhouse gas emission come from our digital carbon footprint, and regulatory guidelines are beginning to adapt to force companies into more sustainable practices.

At the same time, studies show that consumers are making greener decisions too, relying on their favourite companies to share their sustainability values. As a result, around 58% of companies that implement ESG initiatives see a boost to their financial performance.

Cloud platform vendors are taking notice. Many of the biggest providers, including Google, Amazon Web Services, and Microsoft, have made zero-net commitments for both their operations, and to help other organisations reduce their carbon footprint. We’re likely to see an increased focus on these eco-friendly initiatives from cloud platform providers in the years to come.

7. More Customizable Cloud Platforms

We’ve already mentioned the importance of flexibility in cloud platforms for today’s business leaders. However, companies are also beginning to look beyond solutions that simply allow them to connect their platforms, networking tools, and other resources.

As digital skill shortages continue proliferate the modern landscape, businesses need to support the rise of the “citizen developer” to ensure they can continue to evolve. This means embracing platforms that offer low-code and no-code solutions to allow for comprehensive customization.

Today’s innovative low-code tools, and drag-and-drop visual workflow builders, like Microsoft’s Power Platform, are paving the way for improved agility and innovation in every business. This should help companies to retain their competitive edge as new innovations emerge in the cloud computing space.

8. Embracing the Edge

Edge computing is set to become a major focus area for many cloud platform providers as we head into the new year. For those who don’t know, edge computing is a paradigm in which data and information can be collected and processed in the same location (or as close as possible).

This technology is becoming increasingly important as businesses embrace more IoT devices, extended reality headsets, and similar innovations to help them navigate the cloud landscape. Enabling companies to analyse data on devices itself can eliminate significant bandwidth and data processing costs for businesses, helping to improve overall efficiency.

In 2024, we’re likely to see more smaller, power-efficient processors, memory-efficient algorithms, and advanced network solutions like 5G increasing the adoption of edge computing as a crucial component of cloud platforms.

9. New Omnichannel Experiences

Finally, we come to one of the most significant cloud platform trends set to influence communication tools in 2024 and beyond. For years now, companies have been striving to create “omnichannel” experiences in their UCaaS and CCaaS technology stacks.

However, only a fraction of companies have created a true omnichannel experience. Even if channels seem aligned, many fail to share the same data between multiple platforms effectively, leading to data silos, and issues with productivity. In 2024, there will be a growing focus on bridging those gaps, to improve compliance, business insights and efficiency.

At the same time, new channels will continue to emerge in the omnichannel landscape, as we move from messaging, video and audio, into the metaverse and the age of extended reality.

Looking Ahead in 2024

Ultimately, there’s no doubt that cloud platforms will continue to remain essential to businesses looking to evolve and digitally transform in the years ahead. However the way we embrace cloud technologies, and the capabilities they can offer will continue to evolve.
If you’re keen to take advantage of the latest cloud platform trends, but you’re not sure where to get started, use our comparison matrix to filter through some of the top cloud providers in the current landscape. Alternatively, if you need help funding your digital transformation initiative, reach out to us for more information about our innovative transformation fund.

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