Public cloud computing spending to reach $70 bn in 2015: IDC

Public cloud computing will reach $70 billion in 2015 worldwide, said IDC.

The top 5 industry verticals that will be accounting for nearly 45 percent of the total Public cloud computing market will be manufacturing, banking, professional services, process manufacturing, and retail.

IDC said 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, will be the major opportunities for cloud within verticals.

The ease of purchasing cloud-based solutions has helped transfer buying power from IT to functional lines of business like marketing, finance, and operations.
Cloud computing
Security and regulatory issues remain the biggest barriers for cloud adoption across industries like government and financial services, while loss of perceived control over IT assets and massive legacy systems are also stumbling blocks for using cloud.

Eileen Smith, program manager, IDC Global Technology and Research Group, said: “It is necessary for both technology vendors and buyers to recognize the industry drivers and barriers of cloud deployment, to understand the business transformation brought by cloud.”

There will be more industry-specific cloud services platforms and marketplaces run by leaders in each industry seeking to attract communities of thousands of innovators to create valuable new services, said IDC. Such platforms and innovation communities are already in place in retail, financial services, media, and other industries.

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