Publicly available for mass-consumption; Cloud Services Market is pegged to grow at a very healthy rate of 18.5% & could swell to become a US$ 131 Billion sector all within this year itself.
Platforms like ‘Infrastructure as a Service’ (IaaS) & ‘Platform as a Service’ (PaaS), have been confirmed to be the fastest ascending sectors which have been collectively growing more than 45% & are presently sitting at a joint valuation of US$ 6.1 Billion. Even if the present rate is maintained, Cloud services only within the niche segments of virtual storage & print, could go up in valuation to US$ 9 Billion.
What’s fueling the growth?
The growing usage of mobile devices is the primary reason. Smartphones & Tablets, despite the ability to take in large-sized memory cards, still fall short of the demand for content. Thanks to growing number of WiFi Locations, & availability of high speed 3G & 4G, data transmission occurs without any buffer or lag. Under such highly conducive environment, the users have enthusiastically adopted Cloud based storage & streaming solutions instead of hoarding all the data on local storage media.
But, what’s more interesting to note is the growing attraction of these cloud services to the advertisers. It seems, alongside social media, brand promoters have increasingly taken to these cloud-based services to beam messages. While some are very subtle, others resort to persistent banners or even pop-ups. All in all, from 2013 onwards till about 2016, US$ 677 billion is expected to be spent on cloud services worldwide, out of which US$ 310 billion (45%) will be spent on cloud advertising.
Cloud based technologies & services are in essence a logical extension to portable technology. As people increasingly adopt smartphones & tablets, the importance of cloud services will only grow higher. Hence they are here to stay for a much longer duration. What do you think?
Image Courtesy | computerworld