Cloud Migration Is Back (If You Ignore the Actual Numbers)

An anonymous reader shares a report: The cloud migration narrative that powered tech valuations during the pandemic is attempting a comeback, but the underlying data suggests a more complex story.

UBS's new survey of IT services reveals a striking disconnect between industry expectations and customer reality. While executives proclaim '2025 will be far better than what we've seen in 2024,' their enterprise clients report having migrated merely 15% of workloads to the cloud, with the remainder presenting increasingly complex challenges.

The numbers are particularly telling: Growth rates for major cloud providers AWS, Azure, and Google Cloud have declined from pandemic peaks of 40-50% to 10-20%. IT budgets for 2024, meanwhile, are projected to be 'flattish to up very slightly, maybe a couple percent,' marking a significant departure from the explosive growth of recent years.

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