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Cloud computing is no longer a nebulous term without tangible benefits. It's a real strategy and a market that's expected to grow to nearly $160 Billion by 2012, according to a recent Merrill Lynch report. Based on its research, IDC estimates that IT spending on cloud services will hit $42 Billion by the same year. Even more astonishing is IDC's forecast that the corporate spending on the cloud computing model will grow at 27 percent CAGR - over five times the growth rate of traditional, on-premise IT - between now and 2012.
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