Global cloud computing market to touch $241 Billion by 2020
By siliconindia   |   Wednesday, 27 April 2011, 07:40 IST   |    1 Comments
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Global cloud computing market to touch $241 Billion by 2020
Bangalore: Global cloud computing market will grow from $40.7 billion in 2011 to more than $241 billion by 2020, according to the latest Forrester Research report. The report, however, warns technology vendors to build business plans using realistic assumptions as some cloud markets will face significant commoditization, and other markets are still very young with low market adoption. The report titled "Sizing The Cloud" by Stefan Ried, Principal Analyst, Forrester and Holger Kisker, Senior Analyst, Forrester, outlines the different market dynamics for three core layers of cloud computing - the public cloud, the virtual private cloud, and the private cloud. The report also determines the current and future size of these markets. By 2020, it estimates the public cloud market size at $159.3 billion ($25.5 billion in 2011), the virtual private cloud market at $66.4 billion ($7.5 billion in 2011), and the private cloud market at $15.9 billion ($7.8 billion in 2011). "With cloud computing attracting huge public attention, technology vendor strategists are under pressure to craft solid business plans for cloud market success. But to tap into sustainable and profitable revenue growth, they first need to understand the complexities and dynamics of this heterogeneous, rapidly evolving market space", said Ried and Kisker in a press release. The report foresees cloud computing to evolve into a significant contributor to the size and growth of the tech industry overall.

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