{"id":4788,"date":"2014-08-19T07:00:38","date_gmt":"2014-08-19T15:00:38","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=4788"},"modified":"2014-07-29T06:07:29","modified_gmt":"2014-07-29T14:07:29","slug":"cloud-computing-market-growing-at-an-annual-rate-of-23-percent","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/cloud-computing-market-growing-at-an-annual-rate-of-23-percent\/","title":{"rendered":"Cloud Computing Market: Growing at an Annual Rate of 23 Percent"},"content":{"rendered":"

The final tally for spending in the Public Cloud Computing market in 2013 comes in at a whopping $45.7 billion according to a recent study by IDC.<\/a>\u00a0 IDC also predicts that the cloud market will continue to grow at an average annual rate of 23 percent through 2018.<\/p>\n

Cloud software spending, which includes both SaaS and PaaS, accounts for 86 percent of the cloud services market. \u00a0ERP and CRM are the two biggest components of this sector. \u00a0In 2013, $10.78 billion was spent on ERP and $8.13 billion was spent on CRM. \u00a0Salesforce.com and ADP are the two largest SaaS vendors, followed by Intuit, Oracle and Microsoft, according to IDC\u2019s survey.<\/p>\n

Cloud infrastructure, which includes IaaS and storage solutions, accounts for 14 percent of the market share. \u00a0In this market, Amazon.com holds the top position with over 40 percent of market share, followed by RackSpace, IBM, CenturyLink, and Microsoft.<\/p>\n

Frank Gens<\/a>, Senior Vice President and Chief Analyst at IDC, said that\u00a0“we are at a pivotal time in the battle for leadership and innovation in the cloud. IDC’s Public Cloud Services Tracker shows very rapid growth in customer cloud service spending across 19 product categories and within eight geographic regions. Not coincidentally, we see vendors introducing many new cloud offerings and slashing cloud pricing in order to capture market share. Market share leadership will certainly be up for grabs over the next 2-3 years.”<\/p>\n

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The final tally for spending in the Public Cloud Computing market in 2013 comes in at a whopping $45.7 billion according to a recent study by IDC.\u00a0 IDC also predicts that the cloud market will continue to grow at an…<\/span><\/p>\n

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