Despite Amazon’s fumble, cloud computing market projected to hit $241 billion by 2020
Amazon’s data center crash has created a small level of doubt in “the cloud” and the ability to serve tremendous amounts of data to sites like Reddit, Foursquare, and Hootsuite, but that was after Forrester completed their recent analysis of the future of the cloud market. In the study, they concluded that the market will jump nearly 6-fold in less than a decade from $40.7 billion in 2011 to $241 billion in 2020.
Software as a Service (SaaS) is projected to hit $21.2 billion in 2011 and expand to $92.8 billion in the next 5 years. Many social networks, quick-data ports, and SaaS providers rely or plan to rely on the cloud as the foundation for a stronger infrastructure to serve their customers.
Amazon continues to sort through the mess with many websites still down for the third day. Here’s a news report on the incident:
Cloud Computing will continue to grow, I am not sure if Amazon will be the leader but certainly there is nothing that will stop this trend. Because so many offline businesses and people turn to the internet to trade, the needs are here. But not sure who will come with the best plan to become the Google of cloud computing, most likely they will owe 80% of the market share. At the moment most companies are very timid in their cloud offering
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