MIC (Market Intelligence & Consulting Institute) estimates that the global IT service market value will top over US$800 billion in 2016, US$44 billion of which will be contributed by cloud computing services. Cloud computing services have three major service models: IaaS (Infrastructure as a Service), PaaS (Platform as a Service) and SaaS (Software as a Service). Worldwide cloud computing market value arrived at approximately US$20.2 billion in 2012 and is estimated to reach US$25.5 billion in 2013, up 26% year-on-year. In 2016, the market value is predicted to grow 2.8 fold to US$44.5 billion, with a 22.6 CAGR (Compound Average Growth Rate) over a five-year period between 2011 and 2016.
Amid the strong global cloud computing demand, the Chinese cloud computing market continues to be the center of focus. Chinese cloud computing market value stood at about US$2.74 billion in 2010 and is estimated at US$19.3 billion in 2013. During the period 2010 - 2013, the CAGR is to reach around 91.5%. In 2015, Chinese cloud computing market volume is projected to top around US$164.2 billion. International IT branded vendors like Microsoft, IBM, Intel, HP, and Dell have made aggressive move to tap the Chinese cloud computing market.
Worldwide Cloud Computing Market Value, 2011 - 2016
Source: MIC, November 2013
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Market Intelligence & Consulting Institute (MIC), based in Taipei, Taiwan, was founded in 1987. MIC is Taiwan's premier IT industry research and consulting firm providing intelligence, in-depth analysis, and strategic consulting services on global IT product and technology trends, focusing on markets and industries in Asia-Pacific. MIC is part of the Institute for Information Industry. https://mic.iii.org.tw/english