Public Cloud Computing Expected to Hit $70 Billion This Year

Firstpost reported that a new report from International Data Corporation (IDC) predicts that public cloud computing is set to reach $70 billion in 2015. The firm expects that the number of cloud-based solutions available will triple within the next four to five years.
As quoted in the publication:

IDC predicts that the public cloud computing will reach almost $70 billion in 2015 worldwide, with the top 5 verticals (discrete manufacturing, banking, professional services, process manufacturing, and retail) accounting for approximately 45% of the total spend for the market.
The major opportunities for cloud within verticals come from the development of intelligent industry solutions, which are built on top of a new platform that includes cloud as well as big data and analytics, mobile, and social.
Those IT suppliers that showcase the long-term benefits and the true value of the cloud as a platform in a given vertical (e.g., efficiency gains in business processes and improvement in customer acquisition/customer experience) will be most successful.
The ease of purchasing cloud-based solutions has helped transfer buying power from IT to functional lines of business like marketing, finance, and operations.

Click here to read the full article from Firstpost.