Global Cloud Computing Industry – 2011 & Forecast till 2020

Cloud computing is rapidly making inroads into most organizations but with concerns about security, identity, SLAs, outages, etc. Reasons for adoption of cloud services are that it frees companies from having to spend big on technology support and nullifies geography as a barrier to in-house information. Data from various sources suggests that businesses globally are either evaluating, planning, implementing, or have already adopted a cloud strategy. According to Gartner's 'Executive Program Agenda Survey”, Cloud computing has emerged as the top technological focus for CIOs. CIOs expect adoption of cloud technologies will free up to 50 percent of infrastructure and operational resources, which can be utilized for other strategic priorities. BFSI and manufacturing are the early adopters of cloud services. Communications, high-tech industries and public sector are interested in the potential of cloud services. North American and European markets are the largest markets and other geographies Asia Pacific and Latin America will experience growth.

There is a major difference in the estimates give by the three technology research firms. All the three firms have different perspectives in terms of nomenclature like Gartner calls it as Cloud Services Market and IDC talks in terms of Public and Private Clouds. Forrester view of BPaas is different from Business Process Services that are included in Gartner’s cloud services market. Forrester Research expects the global cloud computing market to reach $241 billion in 2020 compared to $40.7 in 2011. Gartner expects the global cloud computing market to reach $176.8 billion in 2015 from current $89.4 billion in 2011. IDC expects the global cloud computing market to reach $79.5 billion in 2014 form $21.5 billion in 2010. Cloud computing includes Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS) and Business Process as a Service (BPaaS). 

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