Wed 7 Jul 2010
Cloud Computing Blasts Off
Posted by Kseniya Savelyeva under On-Premise BI , Software as a Service BI1 Comment
If you hadn’t noticed yet, cloud computing is reaching for the stars.
Companies everywhere are realizing the savings on operational costs and hardware that cloud computing brings to the table. And yes, there are many who aren’t sold on the security the cloud offers versus the comforts of keeping data on-premise.
Regardless of which side of the fence you fall on, you can’t ignore the facts; both IDC and Gartner are predicting huge numbers for the future of the cloud industry. A recent report by market intelligence firm IDC claims that revenue drawn from cloud computing is expected to reach $55 billion by 2014 (up from its current $16 billion), making it one of the fastest growing trends in IT. IDC also claims that on-premise IT is only moving at a 5 percent annual growth rate—in stark contrast to cloud’s 27 percent rate.
Gartner Research released its own report in late June, a day prior to the IDC report. According to the market research firm, cloud computing should reach $140 billion in global revenue by 2014.
While there is a bit of a disconnect between the two projections, one thing is for sure: the future looks bright for the cloud computing industry








