Cloud Money - 'Net Briefs (October 2012)
Technology research company Gartner’s global IT spending forecasts show “lackluster” growth in areas such as hardware, software and IT services, predicting that together they will drive just $3.6 trillion in investment this year. On the upside, there is a clear desire to bolster cloud computing efforts, as Gartner predicts that the industry will hit $109 billion by the end of the 2012. Turns out money grows on clouds, as current forecasts predict that figure nearly doubling by 2016, reaching $209 billion. With consumer spending not even being accounted for, it’s pretty clear that Gartner identifies cloud computing as one of the fastestgrowing segments of IT investment.