With more and more sectors taking an interest in the cloud technology, Google Inc (NASDAQ:GOOGL) is predicting an accelerated growth in the cloud industry in 2015. At the same time, the search engine company has projected a decline in the rate of falling cloud services’ cost.
Barak Regev, Cloud Chief of Google for Europe, has indicated an upward trend in the adaption of cloud services in the current fiscal year. He said, “The adoption curve is extremely accelerating and we’re seeing it coming from a variety of companies.” He further claimed that the potential for Cloud is much bigger than any other technology including the advertising business.
As of now, Google Inc (NASDAQ:GOOGL) is working hard to improve its market share in the cloud indsutry, as the search engine company is lagging behind the industry leaders including Amaozn.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and International Business Machines Corp. (NYSE:IBM). The search engine company has a 5 percent share in the current cloud market.
Google has accelerated its efforts to widen its revenue stream apart from its advertising business and the company launched Google For Work last week to challenge Microsoft Corporation (NASDAQ:MSFT) in the enterprise software & services industry.
With increasing competition from Facebook Inc (NASDAQ:FB) in the online advertising industry, Google is all set to put its bet over cloud. Google Inc (NASDAQ:GOOGL) is currently the market leader in online advertising industry dwarfing other advertisers by a huge margin.
A latest research by Strategy Analytics indicated Google as the current leader in online advertising and the search engine giant accounted for over one-third of the overall online revenue in the first half of 2014. Out of the $85.9 billion spent in online advertising during the first half of 2014, Google registered sales of $31.4 billion followed by Amazon.com, Inc (NASDAQ:AMZN) at number two with $10.3 billion in revenue and Facebook Inc (NASDAQ:FB) with $5.4 billion in advertising revenue.
This article has been written by Prakash Pandey.