Alphabet: top 10 cloud companies
Claiming the penultimate spot in our list of the top ten cloud companies is the multinational and multi-industry Alphabet - parent to Google and several other subsidiaries such as Waymo.
In August 2015, Google announced its plans to create a new holding company, which ended up being named Alphabet Inc. This decision was made to allow for a “cleaner and more accountable” core to its business operations. Since its founding it has become the world’s fourth largest technology company and also one of the most valuable companies in the world. In January 2020, it was announced that the holding company became the fourth US company to achieve a $1 trillion market value.
The company has transformed the technology industry, becoming a household name along the way. Committed to enabling change, it was recently announced that the company has issued the largest corporate sustainability bond in history. The bond is estimated to be around $5.75bn, making it the largest sustainability bond issued by any corporation to date. The company has made other strides towards improving its sustainability and environmental footprint, such as the efficiency of its data centres.
As previously mentioned, the holding company has many more subsidiaries other than Google, ranging from healthcare to autonomous driving. These include Calico in the field of Human health, technology incubator Jigsaw, drone delivery platform Wing, AI pioneer DeepMind and many more.
One of Alphabet’s best known subsidiaries, Waymo, has recently inked a deal with Fiat Chrysler to accelerate its production and adoption of self-driving cars and trucks, marking Alphabet's largest partnership to date. The subsidiary is one of the leading autonomous vehicle companies, and has long been testing on public roads in Arizona.
In this month’s edition of Technology Magazine, we assessed and counted down the top ten cloud companies. Read the full list below to find out who claimed the top spot.
IT Employees Predict 90% Increase in Cloud Security Spending
As companies get back on their feet post-pandemic, they’re going all-in on cloud applications. In a recent report by Devo Technology titled “Beyond Cloud Adoption: How to Embrace the Cloud for Security and Business Benefits”, 81% of the 500 IT and security team members surveyed said that COVID accelerated their cloud timelines. More than half of the top-performing businesses reported gains in visibility. In fact, the cloud now outnumbers on-premise solutions at a 3:1 ratio.
But the benefits are accompanied by significant cybersecurity risks, as cloud infrastructure is more complex than legacy systems. Let’s dive in.
Why Are Cloud Platforms Taking Over?
According to Forrester, the public cloud infrastructure market could grow 28% over the next year, up to US$113.1bn. Companies shifting to remote work and decentralised workplaces find it easy to store and access information, especially as networks start to share more and more supply chain and enterprise information—think risk mitigation platforms and ESG ratings.
Here’s the catch: when you shift to the cloud, you choose a more complex system, which often requires cloud-native platforms for network security. In other words, you can’t stop halfway. ‘Only cloud-native platforms can keep up with [the cloud’s] speed and complexity” and ultimately increase visibility and control’, said Douglas Murray, CEO at cloud security provider Valtix.
Here’s a quick list of the top cloud security companies, as ranked by Software Testing Help:
What are the Security Issues?
Here’s the bad news. According to Accenture, less than 40% of companies have achieved the full value they expected on their cloud investments. All-in greater complexity has forced companies to spend more to hire skilled tech workers, analyse security data, and manage new cybersecurity threats.
The two main issues are (1) a lack of familiarity with cloud systems and (2) challenges with shifting legacy security systems to new platforms. Out of the 500 IT employees from Devo Technology’s cloud report, for example, 80% said they’d sorted 40% more security data, suffered from a lack of cloud security training, and experienced a 60% increase in cybersecurity threats.
How Will Companies React?
They certainly won’t stop investing in cloud platforms. Out of the 500 enterprise-level companies that Devo Technology talked to throughout North America and Western Europe, 90% anticipated a jump in cloud security spending in 2021. They’ll throw money at automating security processes and investing in security upskilling programmes.
After all, company executives will find it incredibly difficult to stick with legacy systems when some cloud-centred companies have found success. Since moving from Security Information and Event Management (SIEM) offerings to the cloud, Accenture has saved up to 70% on its processes; recently, the company announced that it would invest US$3bn to help its clients ‘realise the cloud’s business value, speed, cost, talent, and innovation benefits’.
The company stated: ‘Security is often seen as the biggest inhibitor to a cloud-first journey—but in reality, it can be its greatest accelerator’.