Research and Markets: Global Cloud Services Market Size to Grow 17% Through 2020

Research and Markets has released a new report that projects the global cloud services market will reach $555 billion in 2020.

The compound annual growth rate is estimated to be 17.6 percent between 2014 and 2020, Research and Markets said Wednesday.

The report contains analyses for formulating market strategies and examines market factors to determine growth trends in various geographies.

The report also identifies key application segments based on future potential and growth prospects and analyzes the role of value chains to describe the roles of intermediaries.

Research and Markets also incorporated data on market drivers and opportunities into the report to identify factors of market growth.