Four companies poised to soar with deeper push into cloud

Given the worldwide trends in cloud-based services, the growth potential of these companies is undeniable.

Vikram Barhat 30 August, 2017 | 5:00PM

Once viewed with suspicion due to privacy, cost and security concerns, cloud computing has now become an integral part of everyday life. A growing number of individuals and enterprises are sharing, storing, analysing and accessing data within the cloud ecosystem consisting of a network of cloud-computing companies.

As businesses look to slash costs, improve agility and operational flexibility, they are spending increasingly on cloud computing -- online networks of remote servers used to store, retrieve and process data. By all accounts, the trend is likely to accelerate over the next several years.

A recent report from research firm IDC projected worldwide spending on the public cloud to reach US$122.5 billion in 2017, up 24.4% from the year before. IDC forecasts that spending will reach US$203.4 billion worldwide by 2020. Another report by IT research firm Gartner Inc. forecasts that the public cloud services market will grow 18% this year to total US$246.8 billion, reaching US$383.3 billion by 2020.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Adobe Inc351.34 USD1.02 Inc1,979.59 USD0.35
Microsoft Corp170.17 USD1.25 Inc178.87 USD-1.32

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a freelance writer.