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Cloud Computing Services: A Global Strategic Business Report

Global cloud computing services market: $286 billion industry forecast by 2018


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2014-01-29 09:51:03 - Cloud Computing Services: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

Global cloud computing services market is projected to reach US$286 billion by 2018, driven by growing focus on minimizing IT expenditure and infrastructure costs.

Against a background where companies are coerced into recalibrating their communication applications and network infrastructure into cost-effectively supporting distributed information, cloud computing is growing in importance. Tough economic conditions have additionally reinforced the need to upgrade network infrastructure in a cost-effective, yet compelling way. While there remains an overwhelming tendency to resort to cuts in capital expenditure during periods of economic and financial crunch, companies are fast waking up to the fact that arbitrary scaling back of IT spending is not necessarily the most rewarding in the medium to long term, thus inspiring more thoughtful, and complete

 

 

plans. Against this process of re-evaluating platform strategies, devising innovative ways of creating competitive advantages, and strict monitoring of IT expenditure (both capital and operational), poised to benefit are technologies that reduce expenditures and step up competitiveness.

A key beneficiary in this scenario is cloud computing which is defined as an emerging paradigm computing concept that enables both information technology infrastructure and software to be delivered directly over the Internet as a service. The several benefits of cloud computing which will drive strong incremental growth include easy access to infinite computation resources, scalability of network resources, metering of computational resources and payment only for used computing power, reduced total cost of ownership, faster deployment and implementation and increased savings on virtually all counts of process execution. During the 2007-2009 recession period, companies increasingly took to cloud computing as cloud strategies during this period gained visibility for their ability to slash IT costs. The economics of cloud resulted in increased adoption of cloud-based approaches to IT. The bad economy fed the market for Cloud Computing Services as cash and revenue starved companies prowled for IT solutions that are cost-effective, require minimum to zero investments, and low management of computing resources.

The United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 20.8% over the analysis period. Business Process as a Service (BPaaS) represents the largest segment with growth driven by strong demand for cloud advertising, boom in e-commerce in emerging markets and the ensuing demand for cloud payment solutions. Infrastructure as a Service (IaaS) ranks as the fastest growing market sector led by big data induced increased demand for Storage as a Service (STaaS) and enterprise mobility driven adoption of cloud print services. Global Industry Analysts ©

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