Gartner Confirms Cloud Trend to Tune of $148B by 2014

A Gartner report predicts the market for cloud computing services will exceed $68 billion this year, and expects the next four years to see that market more than double. The firm’s newest report says financial woes have driven the uptake, with every IT expenditure coming under scrutiny as companies look for the sort of bargains cloud providers have touted.

Gartner this week confirmed what the rest of the IT industry has known for years: the cloud is the next sure-fire growth market for hardware, software and services providers around the world.

In a report released this week, Gartner is now projecting worldwide cloud services revenue will soar to more than $68.3 billion this year, a 16.6 percent improvement from an already-robust 2009 and a harbinger of things to come.

Cloud-computing services sales will surge to more than $148 billion by 2014, according to Gartner’s forecast, a definitive sign that enterprise customers have come to accept that era of traditional on-premise software and hardware installations has come and gone. The distributed workforce, the ubiquity of smartphones and the fervent need to cut IT costs at every opportunity has transformed cloud computing from an intriguing curiosity to standard operating procedure.

Earlier this month, computer and IT services giant HP said as much when it detailed plans to slash more than 9,000 jobs over the next three years to embrace cloud computing not only to drive revenue but as an integral part of how it does business internally.

Read “Cloud Services Market Seeing Explosive Growth ” at CIO Update

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