Economic concerns don’t slow cloud growth; costs and FinOps increase in priority
Digital transformation has fueled an increase in cloud spend, but economic uncertainty in 2023 is driving a reduction in corporate spending. Despite this, the need for innovation and increased revenues has never been more important—and the cloud is an engine of innovation.
The Flexera 2023 State of the Cloud Report investigates the public, private and multi-cloud usage of 750 global cloud professionals from a survey conducted in late 2022. It uncovers both the pressures and the strategic initiatives they’re utilizing to remain competitive in today’s dynamic and evolving landscape.
Cloud costs continue to grow, wasted spend remains high and budget pressure is increasing. For the first time in a decade, organizations are prioritizing cost control efforts over security, reflected in the growing adoption FinOps teams and associated cost-savings initiatives.
Top cloud challenges
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Source: Flexera 2023 State of the Cloud Report 
The report also reveals that AWS and Azure continue to lead the pack of cloud providers, further widening the gap with competitors while maintaining their neck-and-neck competition.
YoY public cloud provider adoption rates for all organizations
N=750
Source: Flexera 2023 State of the Cloud Report
One thing is certain: you can’t innovate in a digital world without the cloud—and while organizations of all sizes are prioritizing every dollar of spend, navigating the cloud through a cost-conscious lens will become essential moving forward.
Be the first to hear critical insights and cloud computing trends from this year’s report, including:
- Cloud cost management
- Cloud architecture
- Usage of public, private and hybrid clouds
- Effective tooling
Register today for the Flexera 2023 State of the Cloud Report webinar, where you’ll hear from Flexera’s Brian Adler, Senior Director of Cloud Market Strategy, Tanner Luxner, Product Marketing Manager and J.R. Storment, Executive Director of the FinOps Foundation and author of Cloud FinOps. We’ll discuss how you can leverage insights from the report throughout your cloud journey—and tools you can use to weather the storm of economic fluctuations.