Bangalore:  Cloud computing has the potential to create around 14 million new jobs worldwide reveals a recent Microsoft commissioned study conducted by IDC. The study also predicts that at the same time cloud will generate over 2 million jobs in India by 2015.

But the question that arises here is amid all the buzz and hype about cloud computing and its benefits to IT, whether cloud will actual bring economic benefits with it?

Cloud continues to gain not lose momentum in the market. It is today’s most vibrant technology market. According to a study done by Sand Hill Group and commissioned by the software giant SAP, cloud computing is a powerful engine for job creation. One interesting fact the study showed was that in the year 2010, 11 variant cloud computing technologies created 80,000 U.S.-based job and surprisingly these cloud-related jobs at these firms showed a growth rate that was five times that of the overall tech sector, and probably they could create a total of 472,000 jobs in the U.S. and overseas by 2017 reports Arik Hesseldahl in allthingsd.com

The findings of the study also showed that found that cloud companies expect their revenue to multiply in coming years. But the amount is eye-popping: $20 billion per year for the next five years. Add the interest of venture capitalists, which are expected to pour $30 billion worth of investments into cloud companies over five years, and you get an additional 213,000 U.S.-based jobs over five years, the study found.