Embed Size (px)
DESCRIPTION
The cloud computing market is set to rocket over the next three years according to new research that has predicted the market’s worldwide revenue will jump at a compound annual growth rate of 36 per cent during 2016. - See more at: http://www.storetec.net/news-blog/cloud-computing-to-rocket-over-next-3-years
Citation preview
Cloud computing to rocket over next 3 years
Facebook.com/storetec
Storetec Services Limited
@StoretecHull www.storetec.net
The cloud computing market is set to rocket over the next three years according to new research that has predicted the market’s worldwide revenue will jump at a compound annual growth rate of 36 per cent during 2016.
Research by 451 Research revealed that 2016 will see the global value of cloud computing rise to around $20 billion (£12.3 billion).
Despite this, the experts warned that there are still some challenges surrounding the takeup of cloud, particularly security concerns, transparency and trust issues.
Yulitza Peraza, co-author of the Cloud as a Service overview report, also highlighted workload readiness and internal non-IT-related organisational issues as potential hurdles to cloud truly taking off.
However, she did not play down the growing demand for the service, commenting: “Cloud computing is on the upswing and demand for public cloud services remains strong.”
The report revealed that infrastructure as a service (IaaS) accounted for most of the total market revenue derived from cloud computing in 2012, with this aspect of the technology gaining more than half of the total public cloud market share. It is projected to see a CAGR of 37 per cent in 2016.
In addition, platform as a service (PaaS) made up almost a quarter of total public cloud revenue last year, and is forecasted to experience the fastest growth, at a projected 41 per cent between 2012 and 2016.
It was also noted that publicly traded companies make up 23 per cent of the cloud vendors tracked, generating an impressive 78 per cent of total revenue. However, the majority of vendors still remain below the $5 million threshold, with ‘midmarket’ vendors (between $5 million and $50 million in revenue) making up just 25 per cent of total revenue in 2012.
Greg Zwakman, research director, Quantitative Services, 451 Research, commented: "Several vendors currently included in the cloud 'midmarket' are titans in their core IT sectors.”
Storetec News/Blogs “http://www.storetec.net/news-blog/cloud-computing-to-rocket-over-next-3-years
”. Cloud computing to rocket over next 3 years. December 16, 2013. Storetec.
