2012-09-03 18:37:06 - Private cloud computing market value to more than double

The private cloud computing market is expected to be more than double its 2011 market value, with forecasters predicting it to increase at a compound annual growth rate (CAGR) of 21.5% through to 2015.Growth within the private cloud computing market is being fulled by continuing globalisation, government edicts, consumer acceptance of technology, and the growth of the extended enterprise.The computing industry is witnessing a paradigm shift in the way computing is performed worldwide. There is a growing awareness among consumers and enterprises to access their information technology (IT) resources extensively through a ´utility´ model, a development broadly called ´cloud computing.´Application Virtualization Tools is the leading segment in the private cloud with an approximate 37% market share in 2011 followed by

 

 

infrastructure virtualization and Business Purpose Virtualization Tools.The market for private cloud technology and integrated services is increasingly implemented by larger enterprises. Given the potential for significant cost savings, smaller and medium sized organisations are also becoming early adopters of this technology.Cloud computing not only reduces business costs, but also makes applications accessible from any location, and reacts swiftly to changes in business needs.While interoperability and data security issues may hinder market growth, the future of cloud computing seems promising with IT giants such as IBM, Google, Microsoft, and Salesforce.com actively developing new solutions to address existing issues.For more information on the private cloud computing market, see the latest research: Private Cloud Computing Market ReportFollow us on Twitter @CandMResearch

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