Page 36 - Red Hat PR REPORT - JULY 2024

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Understanding Multi-Cloud Strategies

Multi-cloud refers to the use of multiple cloud computing and storage services in a single
heterogeneous architecture. It enables organizations to avoid vendor lock-in, improve redundancy,
and leverage the best services each cloud provider offers. The adoption of multi-cloud strategies
has grown significantly as enterprises seek greater flexibility, scalability, and resilience in their IT
infrastructures.

Source: Carsten Krause, CDO TIMES Research & Flexera

Key Drivers of Multi-Cloud Adoption

1. Avoiding Vendor Lock-In: By using multiple cloud providers, organizations can prevent
dependency on a single vendor, reducing risk and increasing bargaining power. HSBC
reduced its cloud expenditure by 20% by adopting a multi-cloud strategy, improving cost
efficiency and operational flexibility
( https://www.computerweekly.com/news/252459471/HSBC-bank-ditches-public-cloud-
lock-in-with-multi-cloud-strategy.)
2. Optimizing Costs and Performance: Different cloud providers offer varying pricing models
and performance characteristics. Multi-cloud strategies allow businesses to choose the
most cost-effective and performant services for their specific needs.

https://cdotimes.com/2024/07/29/red-hats-evolution-from-open-source-pioneer-to-multi-cloud-
ai-leader/