Results from Gartner’s annual 2020 Tech CEO Survey show that 62% of tech CEOs whose primary revenue source is cloud services say they are the first in leading their industry in new trends and directions. While this may currently be the case, it is a position they will need to strive to maintain. Large public cloud environments such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform, IBM Cloud, Oracle Cloud and Alibaba Cloud are popular for frequently adding new services and functionalities. These offerings often push new industry trends, further innovation and differentiate from the competition.
In 2019, AWS announced 1,845 new services, updates and functionalities; Microsoft announced 1,169. Hence, large public cloud providers such as AWS, Microsoft and Google are actively working to develop their service portfolios to dominate the market.
Taking large public cloud provider innovation velocity into account, tech CEOs must consider what technologies are most beneficial for keeping their company up to date with emerging industry trends and directions. Maintaining their reputation as leading market innovators is critical to success. Tech CEOs cannot afford to fall behind the offerings of large public cloud providers, and as a result, they must weigh between a build versus buy strategy for certain aspects of their offerings. To remain successful, tech CEOs offering cloud services must determine how they can keep up with large public cloud providers’ release velocity of new innovative services or how they can benefit from it.
In our research note “How Tech CEOs Leverage Innovation and Trends Through Large Public Cloud Provider Portfolio Strategies”, we discuss strategies tech CEOs of cloud service providers must consider to support the rapidly changing demand for providing innovation to their clients, and don’t lose track of upcoming trends.
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