Despite Amazon's fumble, cloud computing market projected to hit $241 billion by 2020

Cloud Computing

Amazon’s data center crash has created a small level of doubt in “the cloud” and the ability to serve tremendous amounts of data to sites like Reddit, Foursquare, and Hootsuite, but that was after Forrester completed their recent analysis of the future of the cloud market. In the study, they concluded that the market will jump nearly 6-fold in less than a decade from $40.7 billion in 2011 to $241 billion in 2020.

Software as a Service (SaaS) is projected to hit $21.2 billion in 2011 and expand to $92.8 billion in the next 5 years. Many social networks, quick-data ports, and SaaS providers rely or plan to rely on the cloud as the foundation for a stronger infrastructure to serve their customers.

Amazon continues to sort through the mess with many websites still down for the third day. Here’s a news report on the incident:

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Written by Rocco Penn

A tech blogger, social media analyst, and general promoter of all things positive in the world. "Bring it. I'm ready." Find me on Media Caffeine, Twitter, Facebook, and Google+.
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  • Anonymous

    Cloud Computing will continue to grow, I am not sure if Amazon will be the leader but certainly there is nothing that will stop this trend. Because so many offline  businesses and people turn to the internet to trade, the needs are here. But not sure who will come with the best plan to become the Google of cloud computing, most likely they will owe 80% of the market share. At the moment most companies are very timid in their cloud offering

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    The crash was purely a teething issue in the evolution of cloud computing. Long live the cloud :)

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    Software as a Service (SaaS) is projected to hit $21.2 billion in 2011
    and expand to $92.8 billion in the next 5 years. Many social networks,
    quick-data ports, and SaaS providers rely or plan to rely on the cloud
    as the foundation for  a stronger infrastructure to serve their
    customers.

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    Wow, I think I will focus more on those cloud tech.

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    Jeff Bezos is one smart guy.

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    Amazon is great.I do amazon affiliate too.

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    Cloud computing is a marketing term for technologies that provide computation, software and storage services that do not require end-user knowledge of the physical location .

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