Cloud services market expected to exceed $240 million by 2020

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On Monday, Baidu, Inc., owner of China’s most-used search engine, became the latest corporation to dedicate some of its vast resources to cloud computing services, an industry that isn’t expected to slow down anytime soon.

Two independent surveys, one conducted by Market Research Media and the other by Forrester, estimate that the cloud industry will surpass $240 billion by 2020 – with Market Research Media predicting it to reach a whopping $270 billion. A separate study by HP, meanwhile, believes the market will grow to $143 billion by 2013.

Much of that spike is predicated on small and medium-sized businesses’ growing reliance on the cloud. According to Spiceworks, there was a 71 percent increase in cloud usage among SMBs in the last year alone, primarily in file sharing (61 percent) and email (48 percent).

But small and medium-sized businesses aren’t the only ones that rely on the cloud’s online databases.

Google, the world’s most popular search engine, exclusively uses cloud services, while Baidu made its recent investment – $1.6 billion to set up a cloud computing center – to improve web access on mobile devices.

“The cloud-supported mobile internet is the focus of the next wave of innovation,” said chairman Robin Li at the company’s annual conference on September 3, reported The Associated Press.

The corporation is currently responsible for 78.6 percent of the Chinese search engine market, according to news source.

 

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