Shifting business priorities are leading more enterprises to adopt multi-cloud strategies, according to a Thursday report from Virtustream and Forrester Consulting.

Of the 727 cloud technology decision makers at large companies surveyed, 86% said they now have a multi-cloud strategy. And 60% of enterprises are now moving, or have already moved, mission-critical applications to the public cloud, the report found.

With this being the case, investments in cloud technology and resources are also on the rise, according to the report. Nearly half of enterprises reported at least $50 million in annual cloud spending. A majority of respondents also said they plan to increase or maintain their investment over the next two years, including resources for both internal staff and external vendors.

SEE: Cloud migration decision tool (Tech Pro Research)

In terms of multi-cloud use, 54% of companies said they use public cloud, 59% use hosted private cloud, and 64% use internal private cloud, the report found. Nearly three in four enterprises reported plans to reevaluate their cloud strategy within the next two years, as a result of increases in cloud adoption and investment.

Organizations are also trying to match their cloud strategy to their business objectives, the report found, with top business priorities for the next year including operational efficiency (42%), innovation (34%), and revenue growth (34%).

When determining what is most important when moving applications to a multi-cloud environment, organizations prioritize performance of the application (38%) over compliance and security regulations (37%) and availability/resiliency requirements (29%). Ultimately, multi-cloud success is measured most by improved performance (58%), total cost savings (52%), and faster delivery time (41%), the report found.

Overall, cloud technology decision makers reported that a multi-cloud approach yields benefits including improved IT infrastructure management and flexibility (33%), better IT cost management (33%), and improved security and compliance (30%).

“Multi-cloud is a clear reality of the next era in cloud computing,” Deepak Patil, senior vice president of product and technology at Virtustream, said in a press release. “Whether it is employed to balance risk or to leverage the advantages and use cases of various cloud platforms – enterprises are increasingly moving their workloads to multiple cloud providers.”

The big takeaways for tech leaders:

  • 86% of enterprises now use a multi-cloud strategy. — Virtustream and Forrester Consulting, 2018
  • 54% of companies said they use public cloud, 59% use hosted private cloud, and 64% use internal private cloud. — Virtustream and Forrester Consulting, 2018