Cloud computing on the rise

After years of discussion over the potentials of cloud technology, it seems that cloud services' popularity will be on the rise for the foreseeable future. According to a new report released by The National Inflation Association, by the year 2013 cloud computing could could represent an even more lucrative arena than that the dot-com boom of 2000.

At the moment, cloud computing is a $74 billion industry that accounts for 3 percent of global IT spending, but the report finds that by 2013 the industry is expected to become more than a $150 billion dollar market.

This this news follows several reports of global cloud expansion, both in terms of enterprise usage,and in terms of service providers. According to Gartner, cloud storage is expected to create 14 million jobs globally by 2015, with a potential for further job growth dependent on market demand.

Furthermore, by 2015 Gartner predicts that cloud services will be on 90 percent of personal consumer devices.

The cloud computing market is predicted to be the highest growth sector of the IT industry, surpassing the social media market of giants like Twitter and Facebook. With such expansion predicted, it is no wonder to see why more and more enterprises are drawn to the innovative technology.

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