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IDC is forecasting a scorching annual growth rate of 27.6 percent for Cloud Computing over the next four years. That means that today’s $21.5 billion Cloud Computing market will grow to $72.9 billion by 2015. That is four times faster than other segments of the worldwide IT market. The IDC study also finds that Cloud Computing is the central component of a revolution now occurring in IT.
Frank Gens, senior vice president and chief analyst at IDC, said that “Cloud services are interconnected with and accelerated by other disruptive technologies, including mobile devices, wireless networks, big data analytics, and social networking. Together, these technologies are merging into the industry’s third major platform for long-term growth. As during the mainframe and PC eras, the new platform promises to radically expand the users and uses of information technology, leading to a wide and entirely new variety of intelligent industry solutions.”
IDC identified five categories of cloud computing where they expect cloud computing to have the biggest impact: applications, application development and deployment, systems infrastructure software, basic storage, and servers. By 2015, IDC says that 46 percent of all new IT spending in these areas will be cloud based. And of the total money that will be spent on the cloud, 75 percent will be in the areas of Software as a Service (SaaS) and Platform as a Service (PaaS).
The trend to the cloud has implications for hardware vendors. Cloud providers will need to build out infrastructure to provide SaaS and PaaS services and that means they will need to buy large numbers of servers and storage. Hardware vendors will increasingly be selling bigger deals to smaller numbers of customers.
The report also sees the US as leading the way into cloud computing. In 2015, the US will still account for more than half of Cloud market, but past 2015, IDC expects cloud computing to be adopted widely globally.