Mumbai, India – October 01, 2014 – The term cloud computing refers to the practice of storing data on the internet instead of saving it on the hard disk of the device itself. Cloud storage has been gaining lot of popularity in the recent years, with the advent of high-speed internet and the increasing amount of data that one needs to have at one’s finger tips. As cloud storage has the advantage of being accessible from anywhere so long as one has data connection, it has become a strong competitor to traditional storage devices like memory card and hard disk. Also, companies are all the more keen on shifting to cloud computing as it can reduce their annual expenditure on IT by as much as 35%. According to current estimates, cloud service market will reach a value of USD 121.1 by the end of 2015.
This report, Global Cloud Services Market covers the present scenario and the growth prospects of the cloud service industry. The report gives a detailed analysis of the market, its diverse nature, the major players in the market, the scopes for potential growth, the regions with the potential for highest growth, the strength and weaknesses of the industry, as well as the challenges that the industry is facing.
Key regions for growth
Cloud computing is most predominant in the developed countries of North America, and Europe. Due to the availability and extensive coverage area of high speed internet, these regions use cloud services the most. However, Asia is fast catching up and presents a vibrant market.
Key market players
The major players in the cloud computing industry are Amazon Web Services, Google Incorporation, International Business Machine, Microsoft Corporation, and Yahoo Incorporation. There have been quite a few mergers in the recent past as major companies are buying out local companies with an established client base in their respective areas of operation.
Market trend
Cloud computing is being seen as the next big thing in data storage business. While companies are shifting to cloud storage because of cost effectiveness, and easy access to data, smartphone and other gadget manufacturers are slowly shifting from on device storage to cloud storage. To further sweeten the deal, many gadget manufacturers now provide with free cloud storage services with select purchases. The fact that a vast majority of such device manufacturers have decided to do away with memory card altogether is a sure sign of the shift to cloud services.
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