Cloud Market to Reach $2.5Bn by 2015

Tuesday Feb 8th 2011 by Staff

Spending on public cloud services will grow five times as fast as IT spending as a whole.

ComputerWeekly: A new report from IDC says that the market for cloud management software will hit $2.5 billion by 2015--that's a 45.5 percent compound annual growth rate. The report also says that while IT spending in general will grow 6 percent this year, spending on public cloud services will grow 5 times as fast.

So far, North America accounts for most of the worldwide cloud management software market--63 percent in 2011.

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