Another day, another report singing the praises of cloud services.
Technology Business Research says cloud services – specifically managed private cloud and professional services – grew 38 percent in the first quarter of 2013, when compared to the year-ago quarter. Look for revenue in this space to grow to $66 billion by 2018, the researcher said.
"The market for cloud services and professional services is still in its infancy, but is expected to double by 2018, and the vendors providing cloud professional services are moving fast to develop resources, products and services to serve the growing demand," said Ramunas Svarcas, senior analyst and lead researcher for TBR's Managed Private and Professional Services Cloud Benchmark. "This benchmark examines the current front-runners in the market how well are they doing and what they are focusing on. Our research shows that while the overall services market has seen marginal growth over the last year, the bright spot for services is cloud professional services, which grew more than 30 percent year-to-year."
The report identifies notable trends that contribute to growth, such as consulting, the evolution of industry-specific, vertical-focused solutions and application-development services, and delves into the growth generated from and the strategy behind vendors forging additional alliances and partnerships and leveraging unique cloud IP and assets to expand addressable markets.