Cloud Computing: Macroeconomic Trends
Numerous travel and tourism companies are moderately investing into the cloud.
As technology and travel become ever more entwined, adopting cloud-based services will be a pivotal theme in driving future changes regarding efficiency, operation and management in the travel space.
Macroeconomic Trends
Listed below are the key macroeconomic trends impacting the markets for cloud infrastructure, cloud services, and cloud professional services, as identified by GlobalData.
Covid-19
The unplanned rush to remote working as a result of the impact of the Covid-19 pandemic means companies and governments have had to rely on technology to keep their operations running as offices lay empty. Cloud services suppliers – notably Amazon, Microsoft, Google, Alibaba, and IBM – had to step up and bear the brunt of a transformed business landscape. So far, they have proved equal to the challenge and, in the space of just a few weeks, spurred a change in the way some businesses operate.
Companies that would never have contemplated allowing their employees to work from home have been forced to rethink their opposition as cloud services delivered collaboration on a massive scale.
Protectionist policies
Global trade creates a network of interdependencies between different countries, tying their economies together. The goal of protectionism is to modify the balance of power in trading relationships by changing the rules in favour of one country. The US is actively pursuing a policy of protectionism by introducing tariffs on a range of products as part of the Trump administration’s America First agenda.
US-China trade war
The US-China trade war will heat up further as China refuses to compromise on its aggressive, mercantilist, state-directed economic model. China’s self perceived need to build a world-class internet infrastructure with public and hybrid clouds based on native components will only be strengthened by increased US-China tension. According to GlobalData forecasts, the US and China make up a combined 40% of the global cloud services market.
This is an edited extract from the Cloud Computing in Travel and Tourism – Thematic Research report produced by GlobalData Thematic Research.