Reported by: Robert Klien
The Cloud technology is fast catching up among companies and small businesses across the world.
A research firm now reveals that spending on public cloud services will increase to $109 billion this year. The year 2011 saw a spending of $91 billion.
According to technology research leader Gartner, by 2016 cloud services spending will reach $207 billion.
Further, Global IT services spending are set to grow 2.3 percent to $864 billion in 2012.
Spending on hardware will account for $420 billion this year, a rise of 3.4 percent.
While telecom equipment spending will be $377 billion this year, telecom services is set to grow 1.4 percent to about $1.69 trillion.
“Although the global economy continue to face challenges owing to the Euro Zone crisis, weaker US recovery, a slowdown in China, the outlook has to an extent stabilised,” said Richard Gordon, VP-Research at Gartner.
Gordon informs that Business Process as a Service (BPaaS) presently accounts for the bulk of cloud spending.
Additionally, platform as a service (PaaS), software as a service (SaaS) and infrastructure as a service (IaaS) are also growing faster.
The word ‘cloud’ in cloud computing is used as a metaphor for the Internet. It uses network of remote servers hosted on the Internet to store, manage, and process data.