March 26, 2012
DUBLIN, March 26 — Research and Markets has announced the addition of the "Global Public Cloud Services Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Public Cloud Services market to grow at a CAGR of 29 percent over the period 2011-2015. One of the key factors contributing to this market growth is the need to reduce organizational IT service cost. The Global Public Cloud Services market has also been witnessing high demand for public cloud services among SMEs. However, growing concerns about security of cloud applications could pose a challenge to the growth of this market.
Commenting on the report, an analyst from TechNavio's Data Centers team said, The main reason companies are implementing cloud services is to minimize costs. Cloud services also facilitate the access of a mobile workforce to computing resources. SMEs, which have limited capital to invest in storage, are finding cloud services an attractive option. They might also be short of capital to maintain an efficient IT department and hence the cloud is a great alternative. The pay-per-use model permits them to invest only when needed and only the amount that is needed. Cloud ERP solutions have tools to extend the application and have built-in analytics. SMEs are slowly adopting public cloud services, as per the requirements.
According to the report, one of the main drivers of the Global Public Cloud Services market is the requirement to reduce the overall cost of IT applications. With growing technological advancements and increased implementation of technologies in businesses, there is a surge in the annual IT application purchase and management costs for many organizations. As a result, many end-users are adopting public cloud services to install and manage cloud applications at reduced cost.
Further, the report also discusses that one of the major challenges confronting the Global Public Cloud Services market is the growing concern regarding data security.
For more information visit http://www.researchandmarkets.com/research/2a6a5a8b/global_public_clou.
Source: Research and Markets
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