Cloud Computing Market Will Top $241 Billion in 2020

01 Jul 2011 3:19 PM | Raj Kosuri (Administrator)

Independent research firm Forrester Research expects the global cloud computing market to reach $241 billion in 2020 compared to $40.7 in 2010, according to a new Forrester report called “Sizing the Cloud”. The report aims to provide insights into the future market size of cloud computing segment while trying to predict market growth dynamics in a new IT environment driven by rapidly growing number of cloud computing services and applications.

Forrester’s report provides market forecast on 12 different market segments for the next decade, forecasting shifts in the usage patterns of cloud infrastructure, business applications for the cloud and cloud platforms that are becoming increasingly widespread.

According to Sizing the Cloud report, Software-as-a-Service (SaaS) offers more growth opportunity than any other segment in the still largely vague market for cloud computing services. SaaS will retain its position as a leading segment in cloud computing with SaaS market growing three-fold to $92.8 billion by 2016, the report said. In contrast, Infrastructure-as-a-service (IaaS) will witness a rapid growth in the next few years but Forrester expects dynamic infrastructure services to perform better than IaaS in the long term.


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