Public cloud market to reach worldwide value of $70m

Public cloud market to reach worldwide value of $70m

The cloud has been one of the most influential technologies and IT trends to emerge in the last few years.

The flexibility and subsequent boost to efficiency has had a substantial impact on how businesses operate, no matter what sector, causing adoption rates to surge over the last few years.

The popularity of the cloud is so great that new research from International Data Corporation (IDC) suggests it will reach a total global value of $70 million (£45.12 million) in 2015.

The report claims that many industry-specific applications will provide something of a driving force to cloud adoption, with many businesses set to look at solutions capable of catering for their requirements in terms of handling data and carrying out other operations.

Many cloud services have also become easy to purchase, helping to heighten interest among buyers even further.

However, the report has stressed there are still a number of barriers that are causing many decision makers to think twice about migrating services to the cloud.

Security remains the most significant obstacle to adoption, particularly among organisations working in the governmental and financial sectors.

Eileen Smith, program manager, IDC Global Technology and Research Group said the current climate of the industry meant it had never been more important for IT decision makers to be aware of "the industry drivers and barriers of cloud deployment".

However, IDC claims the cloud will remain a key part of growth in the IT sector, ahead of an "innovation stage," which could also see a number of other solutions begin to come to the foreground.

As Ms Smith claims: “We have already seen such platforms and innovation communities in place in retail, financial services, media, and other industries.

"This will reshape not only how companies operate their IT but also how they compete in their own industry.

"Technology suppliers will continue to see significant demand for their industry-specific solutions."