Venture Computers of Canada Inc. Responds to Study Claiming Global Cloud Revenue to Hit $176 Billion This Year

Venture Computers of Canada, Inc. (www.Venture.ca), Toronto’s leading provider of IT support, hardware and software sales services, and consulting, is responding to a recent research study claiming global cloud revenue is to hit $176 billion by the end of this year.

Market research firm Gartner expects the global market for cloud-based services to reach $176 billion in 2015; this amount represents just four percent of total IT spending. Gartner also expects that number to jump to $240 billion by 2017. (Source: “The cheap convenient cloud,” The Economist, April 18, 2015; http://www.economist.com/news/business/21648685-cloud-computing-prices-keep-falling-whole-it-business-will-change-cheap-convenient.)

“That’s already a gigantic number, but this is still very much a growing industry,” says Harris Tan, owner of Venture Computers of Canada, Inc. “$176 billion certainly sounds like a lot, but I believe it’s just the tip of the iceberg.”

According to Tan, many businesses are taking advantage of cloud computing right now, but some industries haven’t been able to capitalize on the movement due to regulations. Banks, for instance, are still going back and forth with their own regulators and insurers who need to guarantee the security of personal financial information in the instance of any breach.

“Banks definitely want to get fully into the cloud trend, particularly as it relates to storage, but they safeguard some extremely valuable data and information,” he explains. “It’s no surprise that they’ve been slow to conform, as they have to take extra precautions regarding how to almost guarantee the safety of that data and assess the repercussions should there be any kind of breach.”

Tan adds that on the plus side, businesses that have already shifted to cloud storage or any other cloud service are enjoying prices that continue to drop–to the tune of 25% in the past three years, according to Citigroup.

“The savings that brings to a company can’t be overstated,” Tan concludes. “Being able to show those types of savings can make the difference between being profitable and just getting by, especially for small businesses that really push to explore every efficiency possible.”

Venture Computers of Canada, Inc. offers small businesses in Toronto cloud computing services and IT consulting, so they can enjoy all of the benefits of an exploding industry. For more information, visit www.Venture.ca.