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Worldwide cloud services will reach $68.3 billion in revenues this year, up 16.6 percent from $58.6 billion last year, and by 2014 revenues will climb to as much as $148.8 billion. It seems to be a clear sign that the trend towards cloud computing is not a fluke. It is shaping up to be a huge paradigm shift away from traditional on-premise software and hardware installations and toward cloud computing.
Ben Pring, Vice President at Gartner, identified Financial Services and Manufacturing as two main sectors that have had strong adoption of cloud computing. Growth is accelerating in the areas of communications and technology. Pring said that “the scale of application deployments is growing; multi-thousand-seat deals are increasingly common. IT managers are thinking strategically about cloud service deployments; more-progressive enterprises are thinking through what their IT operations will look like in a world of increasing cloud service leverage. This was highly unusual a year ago.”
Cloud Computing in itself offers attractive cost savings over traditional on-site computing, but other factors that make it attractive are the rise which includean increasing population of remote and mobile workers and the increased use of smartphones. Internet-accessible cloud-based applications increasingly make sense in this kind of environment.
Cloud Computing to-date has seen the strongest growth in the US. Currently the US makes up about 60 percent of the total global market share of the cloud. Gartner expects that percentage to drop to less than 50 percent by 2014 as usage of the cloud becomes more global. But even then, the largest market share will be held by US and Western European countries. Pring said that “We have not seen any evidence yet to support the often-touted hypothesis that smaller and/or developing countries will leapfrog Western markets and come to represent a large proportion of the overall worldwide market.”