Published on : Jun 30, 2016
Cloud computing is a technology that helps provide businesses and organizations with software, platform, and IT infrastructure services through a shared network. With the help of cloud computing, enterprises can access resources such as software and applications remotely. Cloud computing technology eradicates the need for making capital investments in expensive servers and storage devices, thus resulting in negligible operational costs for running data centers.
According to the latest report published by Transparency Market Research (TMR), a market intelligence company, the cloud computing services market which valued at US$79.60 bn in 2011 will expand at a CAGR of 8.39% and reach US$205.48 bn by 2018. However, with rising competition and saturation and technology limitations, the market may see a drop in CAGR, but still grow at a CAGR of 8.39% and reach USD 205.48 USD by year 2018.
Brief Snapshot of Scope of Cloud Computing Services Market: