In this paper, the authors had described about the cloud computing and how cloud computing becomes beneficial in the field of business. In this paper, they have given the name of top Cloud Service providers in the world and how it becomes beneficial for the Microsoft technology to reduce its number of servers from 75 to only 12 - cutting maintenance cost significantly. This paper also provides the information about the components of Cloud Computing and how they interact with each other. This paper gives the information regarding various types of services provided by the cloud which is one of the major benefits of cloud computing. This paper also provide the information about various security challenges related to the cloud computing.