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According to the European Commission’s study, Uptake of Cloud in Europe, it is estimated that the cloud ecosystem could add the astonishing amount of 450 billion Euros (yes, this is correct!) to the GDP of the EU state members.
Actually, you may be even more impressed to find out that part of this amount, and in particular 103 billion Euros, equals to a net increase of the European Union’s GDP only in 2020! As a matter of fact, the cloud’s contribution to the European Union’s GDP that year will exceed 0.71%. If you think this figure is insignificant, you need only consider that the total GDP of the European Union is approximately 14 trillion Euros and in 2013, the cloud’s contribution to the European economy was three times smaller…
Apart from all the numbers and figures that can be confusing, the above study makes a special reference to the anticipated creation of 1 million new jobs within the next five years! At the same time, it is estimated that there will be more than 303,000 new businesses, most of which will be small and medium ones.
From 17.2 to 44.8 billion Euros!
As pointed out in the Uptake of Cloud in Europe study, the value of the European cloud market is expected to reach 17.2 billion Euros this year and sky-rocket to 44.8 billion Euros by 2020. Just consider that only two years ago, the value of the cloud market was barely 9.5 billion Euros, amounting just about to 3% of the total IT budgets… In 2020, this percentage will exceed 10%!
Another interesting finding of this study has to do with the industries that have adopted and integrated cloud solutions in their daily operations throughout Europe. As one could expect, IT and communications hold the first place with 45%, followed by the scientific and technological industries with 27%. As for the average usage rate per industry in regard to the entire European economy, this varies from 14% to 20%.
Finally, in its study, the European Commission points out that the main reason why businesses are having second thoughts about adopting cloud solutions is none other than data safety. There is also the cost of cloud computing services and insufficient knowledge on this area, but these appear to be far less significant.