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Cloud Spending Predicted to Increase Significantly by 2017

Posted by Jeffrey Mayer on February 17, 2014
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Cloud Spending to Balloon to $235B by 2017
Companies like IBM (IBM) and Microsoft (MSFT) have already spent billions transitioning their services to the cloud, and a new report shows they have no intention of stopping anytime soon.
In fact, enterprise spending on the cloud is expected to triple over the next three years to an estimated $235.1 billion by 2017, according to a new report from IHS (IHS). This year, spending is forecast to jump 20% over 2013 levels to $174.2 billion.
In an increasingly mobile world, the cloud has become a critical strategy for businesses across all industries, enabling consumers to access vast amounts of data and media such as music from their smartphones and tablets.
IHS believes the number of global consumer subscriptions to the cloud will jump to 730 million this year from 630 million in 2013.
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