Cloud computing is projected to be the key driver of net new IT spending over the next five years owing to investment in supporting infrastructures by public cloud service providers and adopters of private cloud environments. International Data Corporation (IDC) projected global spending for public and private cloud storage to reach USD 22.6 billion in 2015. Total spending by public cloud service providers on storage hardware, software and professional services will grow at 23.6 percent CAGR (compound annual growth rate) from 2010 to 2015. Enterprise spending on storage for private cloud will grow at 28.9 percent CAGR.
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