Cloud Spending by SMBs Market to Grow at CAGR of 20.52 %

September 17, 2017

On the grounds of comprehensive, reliable data derived from extensive research of multiple sources (both primary and secondary) and in-depth market analysis with inputs from industry experts, Cloud Spending by SMBs market projected to grow at a CAGR of 20.52% during the period 2017-2021.

Cloud computing solutions are IT solutions that are deployed in the ICT systems and eliminate the need to install in-house hardware and software. The cost of in-house IT solutions is relatively low compared to cloud-based solutions among most of the IT deployment models.

Cloud computing solutions have been implemented in a majority of organizations, irrespective of the size of the business. Firms that have high IT budgets and are willing to spend more on flexible IT solutions have majorly invested in cloud computing solutions. However, some of the firms are still using on-premise solutions due to cloud security concerns and also due to resistance from in-house IT departments.

One of the key drivers for market growth will be public sector spending on cloud-based projects. the uk government has implemented g-cloud program to increase cloud computing procurement across the public sector organizations of the uk. spending on cloud computing by the us government has risen because such technologies reduce the upfront cost in the public sector it spending. the government of india is promoting project baadal, a cloud computing platform for smbs. it is pushing the it enablement for smbs by promoting cloud computing as a tool to improve the efficiency and competitiveness. the ministry of micro, small, and medium enterprises (msmes) of the government of india conducted a survey. the findings from this survey will help cloud service providers to fine-tune their offerings, reduce costs, and give them a competitive edge.

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