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Cloud computing market worth £10.52bn by 2013

Cloud computing marketplace revenue will reach $16.7billion (£10.52bn) by 2013, according to a new report from the 451 Market Monitor, a market-sizing and forecasting service.

Including the large and well-established software-as-a-service (SaaS) category, cloud computing will grow from revenue of $8.7 billion (£5.48 billion) in 2010 to $16.7 billion (£10.52 billion) in 2013, a compound annual growth rate (CAGR) of 24 per cent.

The core cloud computing market will grow at much more rapid pace as the cloud increasingly becomes a mainstream IT strategy embraced by corporate enterprises and government agencies. Excluding SaaS revenue, cloud-delivered platform and infrastructure services will grow from $964 million (£607 million) in revenue in 2010 to $3.9 billion (£2.46 billion) in 2013 a CAGR of 60per cent, the report reckons.

The core market includes platform-as-a-service (PaaS) and infrastructure-as-a-service (IaaS) offerings, as well as the cloud-delivered software used to build and manage a cloud environment, which the 451 Group calls 'software infrastructure as a service' (SIaaS).

Cloud-based storage will play a starring role in cloud growth, accounting for nearly 40% of the core cloud pie in 2010. "We view storage as the most fertile sector, and predict that cloud storage will experience the strongest growth in the cloud platforms segment," the report says.

The 451 Group
is headquartered in New York, with offices in San Francisco, Washington, D.C., London and Boston.