Global spend of cloud service set to hit £140.5bn by 2017

Global spend of cloud service set to hit £140.5bn by 2017

It seems that the widespread adoption of cloud computing is not showing any sign of slowing any time soon. An increasing number of businesses are beginning to understand the functional and financial advantages that come with the implementation of such a system.

The rise of the cloud has been something of a global phenomenon and recent figures suggest that its popularity is only going to increase.

According to IHS Technology, the amount of money spent on cloud infrastructure is expected to reach $235.1 billion (£140.5 billion) by the year 2017.

Spending in this year alone is expected to increase by 20 per cent in comparison to the previous year from $145.2 billion to $174.2 billion.

The company also expects the number of subscriptions in that time to rise from the 630 million recorded last year to 730 million.

IHS analyst Jagdish Rebello, said: "The robust growth will come as an increasing number of large and small enterprises move more of their applications to the cloud, while also looking at data analytics to drive new insights into consumer behaviour.

"With the cloud touching nearly every consumer and enterprise around the globe, spending for cloud-related storage, servers, applications and content will be dedicated toward building a framework that is rapidly scalable, highly dynamic, available on-demand and requiring minimal management."

However, despite the rise in the amount of money being spent on cloud computing, there still a number of issues that need to be addressed in order to ensure that the implementation of such a system is made as smooth as possible.

Some of the points highlighted by ISH include the way in which mobile data is used and stored, as well as security of information.

The latter has become a hugely important issue for many companies in recent weeks, especially given the recent string of data breaches. It is therefore vital that firms ensure that the right action is taken to ensure that the advantages that come with such technology can be enjoyed to the full.