Spot Pricing in Cloud Computing: A Comprehensive Survey of Mechanisms, Strategies, and Future Directions

Cloud computing (CC) has transformed the way businesses store, process, and access data, and spot pricing has emerged as a key feature of this technology. Spot pricing enables users to bid on unused computing resources at lower prices, providing cost-effective access to computing resources and helping businesses optimize their operational infrastructure expenses. The proposed research is focused on case studies and existing research based on the impact of spot pricing in CC, including its effect on workload distribution and resource allocation. It also emphasizes the significance of spot pricing in CC and its potential to benefit businesses of all sizes. The paper concludes with open research directions, including the benefits and challenges of spot pricing, the various factors to consider when using spot pricing, and the need for future research in this area highlighting its importance and potential impact on businesses.