Cloud IT a $1.6B Business in 2011: IDC

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  • Cloud computing was one of the big buzz words of 2010 and IT interest in the technology is likely to grow even further in 2011 as enterprises look to reduce the cost and space traditional IT infrastructure requires.

    Where will the growth be? A just-released IDC forecast indicates where the network equipment and other hardware sales are likely to have the greatest impact. And even though some market segments, such as highly regulated industries, will be less willing to trust a cloud provider, IDC says the pressure to reduce cost will encourage adoption. Enterprise Networking Today has the details.

    The cloud will be discussed everywhere in 2011, but how much money actually is there in the cloud business? In a live webcast event this week, analyst firm IDC’s Research Vice-President Cindy Borovick forecast a $1.6 billion cloud market in 2011.

    Borovick’s forecast is not for the entire cloud services ecosystem, but rather is a subset of IDC’s data center and networking forecast. The $1.6 billion figure is IDC’s projection for network equipment revenues used to power both public and private cloud deployments in 2011.

    Read the full story at Enterprise Networking Planet:

    IDC Predicts $1.6B Cloud Market in 2011

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