Verizon releases its predictions of cloud computing industry growth
Wednesday, September 28, 2011 5:52:53 PM
More and more industries are beginning to research the potential growth of cloud computing every day, and many of the projections appear to be in line, giving industry players confidence and likely leading to a more widespread adoption of the technology.
Bloomberg recently reported that Verizon Communications, Inc., released a projection of the cloud industry last week. According to Verizon's forecast, revenues for cloud computing services will increase by $90 billion by 2015, and eventually reach $150 billion by 2020.
"We think we'll have a pretty big share of that," group president for a Verizon unit Kerry Bailey stated at a conference, the news provider reports. "A lot of companies are moving into this space."
The news provider noted that Verizon has already spent more than $2 billion itself on cloud computing this year, while the company's projections estimate the cloud to represent $10 billion this year.
According to research firm Gartner, as more companies adopt mobile devices - many of which are cloud compatible to increase storage without making the products physically larger - revenues for the cloud will continue to grow exponentially.
Additionally, the International Data Corporation projects the cloud industry to grow from 600,00 units in 2010 to 1.3 million by 2014.
-McAfee Cloud Security
