Date Added: Aug 2010
The cloud is emerging as the alternative model to on-premise legacy systems. The cloud means on-demand hosted services, such as computing, network, and storage capacity, where all the time-consuming, complex, and expensive hardware management takes place at one layer removed from the buyer. According to recent findings by research firm IDC, cloud-based IT services are currently worth $16.1 billion globally, and that figure is estimated to grow to around $43 billion by 2013. For example, a research commissioned by Brocade in Europe shows that 60 percent of enterprises expect to complete their transition to the cloud computing model within the next two years. The key business drivers are to reduce cost (30 percent), improve business efficiency (21 percent), and enhance business agility (16 percent).