Coupa Blog

Coupa is a company of talkers, passionate about sharing tips, tricks and advice for improving finance and procurement and saving companies of all sizes time and money. But we’re not the only people with opinions and ideas. We’d love to hear from you so join the conversation!

Explosive growth of cloud computing predicted to continue

 

Did you know the idea of cloud computing originated in the 1960s? It wasn’t until the widespread availability of Internet connectivity that cloud applications became available to the masses. Salesforce.com made its debut in 1999, leading the charge to deliver enterprise applications on the web.

 

Since then, cloud computing has become big business, and woven inextricably into the fabric of the Internet. In 2008, the global cloud computing industry was estimated at $46 billion in annual revenues. By the end of this year, that will have more than tripled to $150 billion, with 86% of companies reporting using one or more types of cloud computing service.

 

With studies predicting that more than 50% of all information technology will be in the cloud in the next five to ten years, there’s more growth to come. Here’s a look at the growth trajectory so far and what is yet to come.

cloud computing growth

 Infographic courtesy of VisualCapitalist.com