Walter Bailey| Cloudtweaks
Many research and studies verify the fact that the volume of the cloud computing business is swelling exponentially across the globe – the growth rates are unprecedented and unexpectedly high. Among such reliable studies, Gartner research and Market Research Media group a few to name – from the results of these studies, it has been found that the growth rate of the volume of business based on cloud computing is much more than the expected.
Forrester Research reveals that the volume of cloud computing business would reach $241 billion in the year 2020 – which is many times the existing market of $41 billion in the year 2011. The investment in this field of the business is much more than expected during the past few years – meanwhile, it is also being predicted that the investment in future would be much more than previous estimations.
The results found in the study of Gartner research suggest that the volume of cloud based business would reach about $148.8 billion by the 2014 – this estimation is even more than that predicted by Forrester Research Company. The company also reveals that the major portion of this growth would take place in the public cloud and there would be a very little volume of $15.9 billion in the section of companies licensing software by the year 2020.
Market Research Media predicts through its studies that the business volume in the domain of cloud computing would much more than previous estimations and predictions – the volume would reach as much as about $270 billion in the year 2020. This study of the market based on cloud computing predicts that the annual growth rate of this business would be more than 30%; one of the reasons for this enormous growth in this domain of business is the confidence of the people and entrepreneurs to invest in this domain – many companies and enterprises are also showing confidence in adopting the cloud based services in their businesses. These enterprises were somewhat reluctant to adopt the cloud computing based services into their IT departments.
Many multi billion and multi million deals, mergers, and acquisition are taking place across the globe in this domain of business – the competition and quality of the services based on cloud computing are increasing very rapidly. Large IT giants like Microsoft, IBM, Dell, Cisco, Google, HP, VMware, and many others are investing huge amounts in the research and development for the enhancement and improvement of the services based on cloud computing models of business.