Organisations with 500+ employees are seeing tangible benefits from cloud computing, according to a newly released report from Tata Communications.
85% of the respondents said that cloud computing had lived up to industry hype, and 23% agreed that cloud had exceeded their expectations.
83% of enterprises said they have experienced benefits they did not expect to see.
69% cited increased productivity, 65% better access to data and 63% said reductions in costs as the most popular of these benefits.
67% of the respondents experienced reduced delivery times to clients and partners in terms of streamlining business processes and 54% have seen a reduction in the delivery time of new services to new markets.
"This independent research shows that the cloud has exited the hype cycle and entered the real adoption phase for businesses globally," said Julie Woods-Moss, CMO and CEO of NextGen Business at Tata Communications. "It is now a strategic investment and a competitive differentiator."
Off-premises storage is said to overtake on-premises alternatives by 2024.
Presently about 28% of the enterprises have their compute and data storage held in the cloud but this figure will change to 58% in 10 years time.
Respondents said that 52% of their IT provision would be stored in private cloud specifically by 2024.
94% of respondents said they would be more likely to adopt a hybrid cloud computing model if connections with the public cloud were more predictable.
65% of respondents agreed that cloud increased speed of access to technology.
Sign up for CIO Asia eNewsletters.