Global public cloud reaches $66 billion in sales by 2016, report says

More organizations are beginning to implement public cloud computing services, which can be seen in the market's growth. According to Ovum's Public Cloud Services Global Market Forecast Model, the public cloud is expected to reach $66 billion in revenues by 2016.

At the end of 2011, the research firm predicts that the market will see a compound annual growth rate of nearly 30 percent and reach $18 billion in revenue.

"The global public cloud services market will explode over the next five years as uptake soars worldwide," Laurent Lachel, an Ovum cloud computing analyst, said in the report. “However, although the market size will see strong growth, the evolution of cloud computing within enterprises and the IT trends that follow will happen more slowly.”

North America is expected to continue to dominate in its usage of the cloud by consuming nearly 50 percent of the global market in 2016. The continent will grow at a CAGR of more than 27 percent and expand from $10 billion to $33 billion in revenue.

According to CDW, 28 percent of all U.S. businesses are already implementing the cloud. This suggests that the country will be a major catalyst in the growing North American and global public cloud markets.

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