Cloud ServicesIndustry Insight

Estimated growth of the public cloud market by 2020 by $191 Billion, suggest KPMG’s 2014 Cloud Computing Survey

Pretty unrealistic to think doing business without cloud based model in next 5 years, almost all major business would have adopted in some or other form.

KPMG’s 2014 Cloud Computing Survey puts it as “Essentially, a new era is unfolding, positioning cloud as a key delivery model for the evolution of IT in business innovation”.

KPMG’s 2014 Cloud Survey report, reflects the perspectives of more than 500 global business executives—including CEOs, CIOs and CFOs—from organizations with annual revenues between $100 million and $20+ billion and spanning more than a dozen major industries.

Other Key Factors from the report:

  • According to Forrester Research, the public cloud market is estimated to reach $191 billion by 2020, a significant climb from 2013’s total of $58 billion. Forrester asserts that cloud applications will lead this growth, achieving approximately $133 billion in revenue by 2020. Cloud platforms will follow, generating an estimated $44 billion in revenue, and cloud business services will amount to approximately $14 billion in revenue by this time.
  • This is further validated by Gartner, Inc. which named cloud as one of the top 10 strategic technology trends for 2015 that will have a significant impact on organizations during the next three years. Says the research firm, “Cloud is the new style of elastically scalable, self-service computing, and both internal applications and external applications will be built on this new style.”

In addition to process efficiencies and cost reductions, cloud offers the scalability, speed to market and centralization to coordinate and manage applications across various devices, which will be increasingly important amid the evolving technology landscape.2014 CLOUD SURVEY REPORT_1

As cloud adoption picks up pace, cloud is poised not only to grow in scale, but will also increasingly impact more and more areas of the business. And, as the data and interviews included in this report show, cloud adoptions are becoming more user-driven and focused on innovation. They do not only result in cost savings, but they can help organizations increase workforce flexibility, improve customer service, and enhance data analytics. In other words, cloud should be considered a key enabler of the corporate strategy, driving strategic business transformations of all kinds.

Read The Full Survey Report Here:

 

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