Cloud computing is picking up steam and its best days are yet to come, according to Google Inc.
It said the pace at which customers are moving their data to the cloud is accelerating and the price of such services will drop at a slower pace in 2015 compared with this year, Bloomberg reported Wednesday, citing Barak Regev, Google cloud chief for Europe, the Middle East and Africa.
“The adoption curve is extremely accelerating and we’re seeing it coming from a variety of companies,” Regev said.
Cloud is “bigger than any market out there if you think about the potential for adoption — even bigger than the advertising market”.
Companies from banks to electronics manufacturer Royal Philips N.V. are shifting to cloud services which let users access data and computing power via the internet, Regev said.
Google has been seeking growth beyond its advertising business, with a focus on cloud computing.
Last month, it unveiled new networking tools for quickly accessing such features while also cutting prices to catch up to larger providers in the field, including Amazon.com Inc.
Google doesn’t break out revenue for its cloud services.
During the second quarter, it had less than 5 percent market share, lagging behind Amazon, Microsoft Corp. and International Business Machines Corp., according to Synergy Research Group.
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