Cloud Computing as economic driver of job creation

A very exciting report published by the Sand Hill Group and sponsored by SAP recently came out about the impact cloud has on the economy and the workforce.

When it comes to cloud, most people think about companies with direct cloud investments such as hosting or hardware. While the statistics are US based, there are some great data points that show why Canada is poised to benefit from cloud adoption.

Companies selling cloud services are poised to pump $20 Billion dollars annually (yes, you read that right) for the next five years into the US economy. This is on top of the 472,000 estimated jobs in both the US and internationally that this industry is expected to create.

Attached to this, the venture capital companies who help support cloud stand to make upwards of $30 Billion in the next five years and create another 213,000 jobs in the US alone.

And even better news is that the government is also on the receiving end of the cloud benefit wagon. It is estimated that cloud computing could save US businesses as much as $625 Billion over five years, and if you do the math, that is a lot that can be reinvested to create even more jobs and auxiliary businesses to support the cloud landscape.

This is really related to the fact that cloud is going to create almost 5 times the jobs that the current IT sector supports. So imagine the impact that this type of trend could have on governments globally. Aside from cutting costs, creating more jobs and making significant profits cloud supports a large ecosystem of innovative organizations and startups. It’s huge, cloud really is going to change things for the better. With Canada’s track record of innovation, this is where we need to start investing.

The full report can be read at http://www.news-sap.com/files/Job-Growth-in-the-Forecast-012712.pdf

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