The public cloud market is expected to grow significantly in 2023, and it’s no surprise. Gartner forecasts that end-user spending on public cloud services will rise by 21.7% to a total of $597.3 billion in 2023, up from $491 billion in 2022!
That’s why in June 2023, we launched our Anodot 2023 State of Cloud Cost survey to explore the impact of mature FinOps platforms on cloud spend control, time to detect cost anomalies, realized cost savings, easiest-to-use optimizations, and their influence on overall cost savings.
In this recap, we’ll give you a quick snapshot of what to expect in our report. But we really encourage you to check out our in-depth report or a detailed review for a deeper dive.
Top challenges in cloud
Making smart decisions on cloud usage and costs relies solely on the ability to extract detailed data. So what are the biggest obstacles the market is currently facing when it comes to getting this crucial information? Let’s take a look at the top three!
True Visibility: Our reporting found that having clear visibility into cloud usage becomes a leading issue for our customers. This includes tracking resource utilization, monitoring costs, and optimizing cloud services.
Complex cloud pricing: Dealing with complex, proprietary billing data and different pricing models from providers can make it even trickier to normalize data and reconcile costs.
Complex multi-cloud environments: Take the two big challenges of true visibility and complex cloud pricing, mash them up, and what do you get? Complex multi-cloud environments.
Basically, the word “complexity” shows up way too often when we’re talking about cloud cost!
| Cloud waste stats: In our survey, 67% said less than a third of their cloud spending is wasted, up from 56% last year, showing improved FinOps adoption and growing awareness of cloud waste which is good news! The bad news? 20% of respondents remain unfamiliar with the cloud waste they possess. This highlights the need for efforts to address this issue!
Learn more on cloud waste costs. |
Cloud costs are on the rise, but less so for Anodot customers
Organizations aspire to effectively manage cloud expenditure, yet struggle to achieve this goal.
That’s why FinOps is such a life-saver when it comes to cloud costs, companies maximize cloud investments, achieving more with fewer resources. Almost half of Anodot’s customers increased cloud spending by over 10% in the past year. But the best part? Over 45% reduced cloud spending through cost optimization, scaling adoption at the same or lower cost with Anodot!
| And the savings keep coming: Over 60% of customers saved more than 5% of the annual cloud spend through cost optimizations in the last 12 months with us. Additionally, over 40% saved more than 10%, and over 20% saved more than 20%.
See more of our cloud saving stats in our report! 💰 |
Final thoughts:
And that’s your preview of our 2023 State of Cloud Cost Survey Report. We covered multiple aspects of cloud spending by using our general market survey and our own data findings.
Notable standouts include:
- The rise of third-party solutions
- The increasing challenge of true visibility into cloud costs
- Cloud spending and savings are more frequent with Anodot customers.
Want more of these findings? I bet you do! Check out our comprehensive report to get the full picture on 2023 cloud costs!
Written by Anodot
You'll believe it when you see it
