But, a VMware study reveals, for most data sovereignty is one of their top concerns.

By 2024, 96% of organizations in Spain will consider their data a driver of revenue, and 47% will recognize it as an important source of revenue compared to 31% today, according to new research from VMware, leader in enterprise software innovation.

The study, entitled "Multicloud Maturity Index", has been carried out among business and IT decision makers in Spain, and reveals that almost half (44%) strongly agree that the use of several Clouds will allow them to maximize their data to innovate, while addressing critical issues such as national and sectoral data sovereignty. In fact, data sovereignty stands out as one of the top challenges organizations face, with 96% admitting data sovereignty is a concern.

However, the ambition to extract more value from data brings additional challenges. Security (33%), skills (35%), difficulty bridging different cloud environments (30%) and siled data access (23%) continue to be top hurdles. Organizations also need to improve control over cloud and operational spend (88% and 78%, respectively), and agree this is a concern if data is to drive true business value.

"The reliance on data to drive innovation and competitive advantage is now the backbone of digital business. Being cloud smart, or the ability to choose the right type of cloud for the right data, including highly sensitive information that must remain within national borders, it is becoming the de facto business model for organizations looking to leverage their data advantage," said Joe Baguley, VP and CTO of VMware EMEA. "Organizations that take full advantage of the competitive advantages of using multiple clouds to manage data are seeing benefits across the enterprise. However, to be successful, they must be able to take control of where their data resides, without compromising security, regulatory compliance or sovereignty, and the choice of providers to manage them."

There is consensus (87% of respondents) that the benefits of a multicloud approach – the ability to use and manage different types of private, public, edge and sovereign clouds – outweigh the challenges. 47% believe that using such a strategy has had a very positive impact on revenue growth, while 43% also believe that it has had a very positive impact on profitability. In fact, only 2% believe that this approach is not essential for the success of their business activity.

In the case of Europe the news is even better; The impact of the data economy on GDP in the European Union is expected to rise from 2.6% to 4.2% in 2025, according to the European Commission.

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