While it’s not a surprising revelation to say that cloud computing is the wave of the future in managed data storage, it’s still interesting to look at some of the specific research that has been pouring in over the last year.
According to a report from Market Research Media, an information technology analysis firm, the global cloud computing market is expected to grow at a 30 percent compound annual growth rate (CAGR) from 2015 to 2020, reaching $270 billion. There are many other examples of market research for the cloud computing market. And while some may vary greatly due to some industry hype, the important underlying fact remains: cloud computing will see massive growth in the next few years. Here’s more backup:
- Another report has the cloud computing growth considerably smaller than the aforementioned $270 billion, but is still a healthy projection to say the least. The global research and advisory firm Forrester forecasts the global cloud computing market will grow to more than $241 billion by 2020.
- Several specific industries are set to see above average growth in cloud computing. A report by business market research firm MarketsandMarkets states that the global healthcare cloud computing market is projected to be valued at more than $5.4 billion by 2017. The report noted that one of the catalysts for this growth was the demand to rein in healthcare costs, so healthcare organizations (HCOs) are beginning to migrate data to the cloud.
- In 2010, the cloud computing market for medical imaging was at $56.5 million. It is forecast to grow at a CAGR of 27 percent through 2018.
- IT research firm Gartner predicts small and medium businesses in the insurance industry will have a 34 percent cloud adoption rate this year, compared to 27 percent in their enterprise counterparts.
- Other industries that are neck-and-neck with the medical and insurance industries in the Gartner report for cloud computing adoption growth are services (34 percent), education (31 percent), and bank and securities (30 percent).
(via: softwarestrategiesblog.com)
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