Cloud computing to generate US$ 1.1 trillion annual business revenues by 2015

New Microsoft commissioned study expects cloud computing to create nearly 14 million new jobs globally, 12,000 in Singapore, and nearly US$1.1 trillion a year in business revenues by 2015.

Microsoft Singapore shared some insights today from a recently commissioned research from analyst firm IDC showing and expected 12,000 new cloud-related jobs in Singapore by 2015. Even though IT spending is expected to grow by just 16 percent over the next four years, Singapore is expected to show over 30 percent growth in cloud-generated jobs. Comparing this to the growth of the total Singapore workforce of 12 percent in the same period.

“As a global business hub, Singapore is a strategic market for cloud adoption. Microsoft helps many multinational companies based in Singapore, that increasing look to the cloud solutions to grow and optimize their operations,” said John Fernandes, Chief Operating Officer of Microsoft Singapore, in a press release. “This increase in cloud usage In turn, this creates technology new job opportunities within the country.”

The research also showed that cloud computing will create nearly 14 million new jobs globally for that period with predicted revenues of nearly US$ 1.1 trillion per year. The report also indicated the different rates in job growth that specific industries will generate and also that public cloud investments will drive faster job growth than private cloud investments. To view the full report, check out the official post on Microsoft News Center.

Joash Wee

Joash is passionate about tech startups and building the technopreneur community. While completing his undergraduate business degree, he decided to take a programming class just for kicks. Fortunately for him, he managed to scrap a pass and it now helps him get by with the geek talk. When he is not discussing about startups or the latest technologies, you can find him reading off his Kindle or taking photos with silver halide salts, old school.

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