42 percent of the surveyed Brazilian companies are planning to invest in cloud computing in 2015, said a report by Frost & Sullivan.
Nearly 25 percent of the companies will be investing in these solutions for the first time.
The report said 41 percent of companies are already using Cloud. By the end of 2015, approximately 66 percent of Brazilian companies are expected to use at least one cloud offering.
The Brazilian cloud computing market revenue will grow to $1.1 billion by 2017 from $328.8 million in 2013.
The majority of companies are opting for private cloud model but it is predicted that hybrid model will gain attention in coming years, the Frost & Sullivan survey of 313 Brazilian companies said.
The biggest challenge for cloud computing providers is to build user confidence in security aspect of using the cloud. Many companies believe that sending information to the cloud makes it more vulnerable.
The research said Brazilian companies are concerned about storing data on the cloud. They have concerns surrounding a lack of data confidentiality.
“Cloud companies service providers must make clients aware of efforts they make to boost data security; for instance getting certified. They should also ensure that clients understand their data will be secure and inaccessible to other companies,” said Frost & Sullivan ICT industry analyst Guilherme Campos.