The market for cloud computing services is expected to expand at an annual rate of more than than 20 percent for the next several years, according to a new study by market research firm IDC.
The U.S. market for public cloud services offered to customers will rise from $11.1 billion in 2009 to $29.5 billion in 2014, according to the new forecast.
Cloud computing enables companies to access networks of computers over the Internet. The IDC study excludes private clouds that companies operate for internal use.
A number of Triangle companies are betting on cloud computing to rev up their business. They include Linux software company Red Hat, whose software is used to run cloud computing centers; and business software company SAS, which recently opened a $70 million cloud computing center that enables customers to access SAS software over the Internet without investing in new equipment and personnel.