Cloud Budgets Busted: Almost 40% Overspent Last Year

The 2021 HashiCorp State of Cloud Strategy Survey reveals insights into how companies are spending on cloud and multi-cloud initiatives. While cost was a primary concern for many organizations, more than a quarter cited potential cost savings as a driver of cloud adoption. The survey found that cloud budgets vary significantly by industry, location, and company size, with telcos and financial firms being among the biggest spenders. However, complexity in tracking and controlling cloud spending is a significant issue, with 39% of respondents overspending their budgets in 2020. Despite this, many organizations can take steps to minimize cloud waste by automating, standardizing, and governing infrastructure provisioning, as well as investing in standardized tooling. The survey also highlights the importance of adopting a multi-cloud strategy and toolset for effective cloud management.

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