Cloud computing has been a major trend for a decade. In 2015, it saw triple-digit annual growth. Although by the end of 2019, the largest cloud providers grew at a slower rate, just 31% annually, and this rate was expected to decrease in 2020 and 2021 as the industry matures, cloud growth still surpassed many other sectors.
Moreover, in 2020, the cloud market grew faster than in 2019 by some metrics. That happened despite the severe economic downturn. The reason for this growth was the increased demand caused by the pandemic, lockdowns, and the shift to remote work.