Public Cloud Computing Trends and Midsize IT

 Grazed from MidsizeInsider.  Author: Marissa Tejada.

New research has found that public cloud computing services are set to reach outstanding levels within the next five years. The growth of the public cloud market presents a big opportunity for midsize IT.

Toppling the Market

IDC’s latest report featured in Network World found that public cloud computing spending will topple $56.6 billion this year. By 2018, the market is set to reach more than $127 billion. This five-year compound annual growth rate (CAGR) of nearly 23 percent is calculated to be six times the overall IT market rate. The report also pointed out that public cloud will consist of more than 50 percent of the world’s software, server and storage services spending…

The report took a closer look at what is driving the growth of public cloud and determined that IT vendors are playing a role by expanding their offerings with "cloud first" strategies. IDC also highlights that the market is in an innovation era: New solutions and services that lead to value creation are frequently being introduced into the market…

Read more from the source @ http://midsizeinsider.com/en-us/article/public-cloud-computing-trends-and-midsiz#.VG5rApPF91Y