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NEW YORK–(BUSINESS WIRE)–DigitalOcean Holdings, Inc. (NISE: DOCN), the cloud for developers, startups and small and medium-sized businesses (SMBs), today released the findings of its biannual Currents report.
While economic growth is predicted to continue to slow in the coming years, 31% of SMB respondents say the economy has had no impact on their business, while 15% say it has had a positive impact on them.
“In these uncertain economic conditions, it is assumed that smaller organizations will have to reduce their IT spending to survive, but they are actually turning to technology to make their operations as efficient as possible,” said Yancey Spruill, CEO of DigitalOcean. “SMBs and startups continue to invest in technology to help them weather the current economic climate.” We expect cloud migration to continue to accelerate due to the simplicity and low cost it offers.”
Additional key findings of the Currents report include:
- Reliance on the cloud is increasing. With 61% of respondents saying their spending on cloud computing infrastructure has increased.
- Savings is the main motivator for SMEs migrating to the cloud. With a 57% increase in their reliance on cloud solutions, cost savings is the biggest motivator for both migraters and non-migraters.
- Small and medium-sized enterprises are still preparing for the upcoming business challenges. Entering 2023, SMB owners and startups say economic uncertainty and meeting revenue goals are their top two areas of focus with ensuring technology solutions meet customer needs rounding out their top three priorities.
- Their business is a priority. 84% of companies believe investing in technology will help prepare their business for the future, including investments in automation/self-service, cloud computing and managed services.
Read or download the full report here: https://www.digitalocean.com/currents/.
Methodology
The Currents report is based on a sample size of 554, of which 70% identify as CEO, founder or owner, and 23% identify as CTOs. Respondents represent 76 countries, with 27% in the United States, 8% in the United Kingdom, 5% in India, 5% in Germany and 5% in Canada. Respondents came from a range of digital industries, with 37% in software/Software as a Service, 19% in technology consulting, 6% in marketing/advertising, 4% in e-commerce and 6% in other technology industries. The questionnaire was developed by DigitalOcean and was distributed via email link and social media channels to both DigitalOcean customers and non-customers.
About DigitalOcean
DigitalOcean simplifies cloud computing so developers can spend more time creating software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups, and small to medium-sized businesses (SMBs) rapidly build, deploy, and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source, and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth. For more information, visit digitalocean.com or follow @digitalocean on Twitter.
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