Report: Budget allocations for the cloud set to rise

Report: Budget allocations for the cloud set to rise

April 7

Spending on cloud computing will rise during the next several years, according to the results of a survey conducted by IDG Enterprise, as organizations expect to increase their budget allocations for the emerging technology.

Analysts polled more than 1,650 IT and security decision-makers and found the average company allocates 34 percent of its budget for cloud computing technology, such as online backup services. Nearly two-thirds of respondents said that figure will rise during the next 12 months. And respondents expect their companies to increase cloud spending by an average of 16 percent.

“Cloud computing solutions enable increased IT innovation, agility, and reduce long term IT costs,” Bob Melk, the senior vice president, group publisher and chief marketing officer for IDG Enterprise, said.

Other report findings revealed that 66 percent of respondents view the cloud as a very or somewhat important enabler for business innovation.

Hosted backup and recovery software is one area where the cloud has made a dramatic impact, according to experts. With hosted technology, companies can now protect information and recover it quicker and faster than ever before.