Ovum predicts massive expansion of public cloud

The global public cloud services market will more than triple in size over the next five years to reach revenues of $66 billion in 2016, according to Ovum, growing close to 30 percent a year on average. It noted however that although the market will see strong growth, ‘the evolution of cloud computing within enterprises and the IT trends that follow will happen more slowly.’ After North America, which will generate half of all business, EMEA will be the biggest market. Western Europe will grow at a CAGR of 31.2 percent from 2011 to 2016 to reach $17.2 billion, up from $4.4 billion in 2011.