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Barbara Melby, left, and Katherine O’Keefe, right, of Morgan Lewis & Bockius.

Cloud services have shifted from emerging to mainstream, with companies in even the most risk-adverse industries exploring and adopting cloud-based solutions. There are many variations of cloud offerings, but they generally can be categorized into three types of solutions: IaaS (Infrastructure as a service), PaaS (platform as a service) and SaaS (software as a service). Companies are seeking to leverage the potential scalability, flexibility, efficiency and cost-savings benefits of these offerings at an expediential pace. Analysts are predicting that in a little over five years, the global market for cloud services will hit the $1 trillion mark, see Global Cloud Computing Market Forecast 2019-2024, Mkt. Research Media (Jan. 8, 2018).

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