Cloud computing set to boost Global Economy

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Five years back, cloud computing was perceived as yet another jargon by IT fanatics but right now, it is seen as a tactical strategy to boost performance and sales. At present, industry experts strongly agree that cloud computing is a strategic IT solution for major business problems. It is also seen as an essential ingredient to position any business on top of the game.

A recent article from The Economist mentions about cloud computing to be “the ultimate form of globalization”. Another article published in The MIT Entrepreneurship Review states that cloud computing provides start-up companies with access to enterprise-class servers and computational capabilities to compete globally in a cost effective manner. The article cites cloud computing to be the major factor responsible for creating next generation “technopreneurs”.

In a recent survey of nearly 1000 executives by KPMG International and Forbes, more than 80 percent of them said that they have moved some of their business solutions to cloud computing. Also, more than 75 percent pointed out economic factors to be one of the key drivers in cloud migration. The report projects that it is boom time for cloud service providers and by 2012, many companies would have upgraded themselves to the cloud platform.