So in case you weren't sure, cloud computing is continuing to grow quite rapidly. This points to a couple of interesting things re the internet and how companies are adopting technology.
Firstly, on prem devices are being ditched. No one wants a server onsite anymore. The ROI isn't worth it, and now that everyone is working from home, it's a royal pain in the ass to try and get people to connect to on prem devices.
Secondly, the demand for cloud is being driven by the cost benefits. An Microsoft 365 subscription is cheaper than a on prem exchange server.
Thirdly, because it's cheaper to deploy services in the cloud, the barrier to deploying new services, and trying new things is lower.