A major shift in the way companies obtain software and computing capacity is under way as more companies tap into Web-based applications. Cloud Computing refers to both the applications delivered as services over the Internet and the hardware and systems software in the data centers that provide those services. In other words Cloud Computing is accessing computer resources provided through networks rather than running software or storing data on a local computer.
A host of providers including Amazon (AMZN), Salesforce.com (CRM), IBM (IBM), Oracle (ORCL), and Microsoft are helping corporate clients use the Internet to tap into everything from extra server space to software that helps manage customer relationships.
Worldwide Cloud Computing market is continuing to grow at a rapid rate and it is expected to cross US$ 25 Billion by the end of 2013. The different segments of the Cloud Computing market (SaaS, PaaS, IaaS) show different maturities and adoption levels. The various segments within the SaaS market will grow at a different rate.
The fastest growing segments in SaaS are Content, Communications and Collaboration (CCC), Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) and Supply Chain Management (SCM). PaaS generates market revenue of approximately 1.5% of the total application development market in the year 2008. IaaS is increasingly becoming popular with computing resources integrating as web service. The IaaS service providers can support a large number of customers with a single infrastructure.
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