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The global cloud market is set for explosive growth over the rest of the decade as it more than quadruples current revenues.
According to research from Forrester the cloud market will hit $241bn by 2020 up from its current projected level by the end of this year of $40.7bn.
Spending on the cloud, which covers private, public and the virtual private cloud, has already taken off but the next few years will see it hit new heights.
SaaS remains the most profitable area as it is embraced by firms of all shapes and sizes but there are warnings from the analyst house that not all areas of the market will stay on an upward trajectory with the infrastructure as a service market likely to become a commoditised space after 2014.
The other conclusion from the Sizing the Cloud report was that desktop virtualisation has reached the end of its innovation cycle and large scale virtualisation tools that roll out server-bvased applications across the enterprise are becoming more important.