Mobile cloud computing revenue projected to reach new heights

Thursday, December 22, 2011

New research from independent business research firm Visiongain showed that the market for mobile cloud computing is expected to grow significantly in the near future.

By 2016, the global cloud industry is projected to be worth $240 billion, growing from $77 billion in 2011. According to Visiongain, mobile cloud revenue will increase at a compound annual growth rate of more than 51 percent, reaching $45 billion by this time.

According to the research firm, the global proliferation of smartphones, growth of 3G networks and establishment of LTE connectivity are leading to the rapid growth in the mobile cloud market.

"Visiongain believes that open standards will make it easier for developers to build cloud based applications that can be used across a variety of smartphones," the research firm said.

Many businesses are adopting the cloud to support employees who use smartphones, tablets and other mobile devices. A recent study of nearly 3,700 IT professionals conducted by a cloud solutions vendor revealed that 33 percent identified the need to support these workers is their top reason for adopting cloud computing services.