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The move to cloud computing is on. Today 19 percent of IT budget is spent on cloud computing. By 2022, Gartner expects that percentage to grow to 28 percent. The biggest segment of IT cloud spending will be application software — 40 percent of spending on applications in 2022 will be for cloud-based apps.
TJ McCue, Forbes contributor, said that “instead of a slow-moving fluffy white cloud image, the cloud computing industry should use a tornado–that might be a better way to visualize how fast cloud computing is growing today.”
Michael Warrilow, research vice-president at Gartner, said that “the shift of enterprise IT spending to new, cloud-based alternatives is relentless, although it’s occurring over the course of many years due to the nature of traditional enterprise IT. The shift to cloud highlights the appeal of greater flexibility and agility, which is perceived as a benefit of on-demand capacity and pay-as-you-go pricing in cloud.”