Organisations are expected to allocate as much as 10 per cent of their spending to cloud investments over the next year, according to new figures from Gartner.
A survey of 500 IT professionals in 40 countries revealed "robust" and "rapidly rising" interest in cloud technology, according to the analyst firm.
"The cloud market is evolving rapidly, with 39 per cent of survey respondents worldwide indicating that they have allocated IT budget to cloud computing as a key initiative for their organisation," said Bob Igou, a research director at Gartner.
"One-third of the spending on cloud computing is a continuation from the previous budget year, a further third is incremental spending that is new to the budget, and 14 per cent is spending diverted from a different budget category in the previous year."
Just under half of respondents plan to increase the amount of services they take from third parties, representing a trend to consume cloud services as a utility, according to Igou.
"This is yet another trend that indicates a shift in spending from traditional IT assets such as the datacentre, towards assets accessed in the cloud," he said.
However, while the new technology offers many benefits to companies, it could change the dynamic among cloud providers.
"The trends are good news for IT services providers that have professional services geared to implementing cloud environments and those that deliver cloud services," said Igou.
"It is bad news for technology providers and IT services firms that are not investing and gearing up to deliver these new services, given the increased demand by buyers."
Nathan Marke, chief technology officer at IT services consultancy 2e2 said the rapid adoption of cloud computing came as no surprise.
"Organisations realise that by using external providers and cloud computing models they can gain more flexibility in their cost and skills base, while also getting the elasticity and scalability needed for growth, at less cost and with greater flexibility than traditional IT models," he added.
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