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Small and medium businesses continue to purchase more mature IT options, looking for enterprise-level sophistication on a smaller scale
RENTON, WA – May 12, 2015 — /BackupReview.info/ — Odin has released its fifth annual U.S. SMB Cloud Insights™ report. The new report forecasts that the small and medium business (SMB) cloud services market will grow at a compound annual growth rate (CAGR) of 11.4 percent in the next three years from $25.2B in 2015 to $34.9B by 2018.
The 2015 U.S. SMB Cloud Insights research shows the largest market opportunity for cloud services in 2015 is infrastructure-as-as-service (IaaS) at $9.4B. This market – which includes virtual private servers, dedicated servers and elastic computing – will grow at 8 percent CAGR and reach $11.8B by 2018.
The research also shows a key driver for cloud services growth will be in hosted business applications, software-as-a-service (SaaS) like file sharing, payroll and HR, and online backup and storage, which will all increase at a CAGR of 23.9 percent over the next three years, reaching a total market size of $12B.
“Over the five years that we have been conducting this study, we’ve seen a rapid and consistent growth in SMB consumption of cloud services,” said Birger Steen, chief executive officer, Odin. “Applications and capabilities that were previously reserved for enterprise-size organizations are now benefiting millions of smaller businesses. At the same time, SMBs are becoming more sophisticated in their IT and telecom choices, and developers are creating more services and applications specifically for this market segment.”
Some of this year’s notable Odin SMB Cloud Insights findings include:
Additional Odin SMB Cloud Insights research findings include:
About Odin SMB Cloud Insights™
All SMB Cloud Insights reports are available for download at http://www.odin.com/resources/smb-cloud-usage/smb-reports/
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