MarketBite

Verizon Predicts Cloud Services Market at $150 Billion in 2020

Posted on: November 11, 2011


  • Verizon Communications Inc, the second-largest U.S. phone company, expects that the total market for cloud computing services will grow to $150 billion by 2020 from about $10 billion now.
  • “We think we’ll have a pretty big share of that,” Kerry Bailey, group president of Verizon unit Terremark Worldwide, said during a press meeting in Amsterdam today. “A lot of companies are moving into this space.”
  • The market for cloud services will grow by $90 billion in the next four years, Bailey forecast. Verizon has spent “well over $2 billion” on cloud technology this year, after acquiring information-technology services company Terremark and CloudSwitch, a provider of software, according to Bailey.
  • Verizon will open its flagship datacentre for Europe in Amsterdam tomorrow.

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2 Responses to "Verizon Predicts Cloud Services Market at $150 Billion in 2020"

It’s actually a cool and useful piece of information. I am happy that you simply shared this helpful information with us. Please stay us up to date like this. Thank you for sharing.

sure will try to make site up to date as possible. thanks

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