Seeking cost savings and the increased functionality necessary to navigate today’s fast-paced business world, companies are increasingly adopting cloud computing platforms. In fact, recent research indicates that 75 percent of all businesses made use of at least one cloud service in 2013, up eight percent from the year prior.

In addition to those figures, GigaOM Research predicts that on a global scale, the cloud computing market will explode to $158.8 billion in 2014, an increase of 126.5 percent from 2011.

These trends indicate that it’s likely we will continue to see more and more businesses make use of cloud services. But why is that the case? Let’s take a look at some of the chief benefits associated with cloud computing:

• Quick to deploy: On-premises solutions can take years to implement whereas companies that leverage the cloud can expect to deploy new technology in months or even weeks.

• Stay on top of updates: IT teams are stretched in many different directions each day and oftentimes might not be able to keep infrastructure precisely up to date. By leveraging the cloud, that task is handed over to the vendor—which means you stay ahead of updates.

• Reduced expenses: Say goodbye to the capital expenditures associated with procuring new equipment. With pay-as-you-go subscriptions, businesses will enjoy significant cost savings when they migrate to the cloud. Additionally, the cloud requires little initial investment.

• Increased flexibility: In today’s increasingly mobile business world, businesses need to provide their employees with the tools they need to thrive. The cloud enables employees to access mission-critical data no matter where they happen to find themselves. That way, they are just as productive in the airport waiting for a flight as they are at the office.

Click here to read more about how your business stands to benefit from cloud computing.