The adoption of cloud computing could give the UK a total economic benefit of about €30bn a year from 2015, according to research.
The EMC commissioned report was carried out by the Centre for Economics and Business Research (CEBR).
It revealed that the top five economies in Europe will have a combined financial benefit of nearly €180bn a year.
Business development opportunities, Business creation and savings were taken into account.
The CEBR said the annual economic benefit of cloud computing for each of the top five European economies by 2015 will be:
France - €37.4bn
Germany - €49.6bn
Italy - €35.1bn
Spain - €25.2bn
UK - €30.0bn
Piers Linney, joint CEO of Cloud services company Outsourcery, said, "The Cloud revolution has been likened to the third industrial revolution after the automation of production and the arrival of steam power in the nineteenth century."
"Cloud services democratise IT as powerful applications are now available to businesses of all sizes."
Click here to download a copy of the full cloud computing report. (Requires registration)