Report: Global cloud market to reach $82 billion in 2016

Cloud computing technologies, because of their flexibility, high availability and ease of use, are becoming mainstream as they are utilized by businesses and consumers alike. As a result, the global market for these services is anticipated to expand to roughly $82 billion in revenue in 2016, up from $31 billion in 2011, according to a study by research firm Strategy Analytics.

"With demonstrated cost savings and diminished security fears, all three types of cloud services - SaaS, IaaS and PaaS - are growing rapidly due to cloud computing’s cost saving opportunities and diminished security concerns," said enterprise practice director Andrew Brown. "Cloud computing offers compelling alternatives to CEOs, CFOs and operations managers who are reviewing IT and data center budgets."

Additional contributions to the market will be generated by society's need to go portable. As a result, distributors will provide mobile-based cloud services and remote workers will utilize them to remain efficient, regardless of geographic location, the report noted.

According to Visiongain, the mobile cloud computing market will expand at a compound annual growth rate of more than 55 percent after 2011.

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