Cloud computing is not only useful for enterprises but it also can be beneficial for the economy of a county, country or a whole continent. A recently released Centre for Economics and Business Research (CEBR ) report states that Europe alone can gain 763bn Euros in five years, if it rides the cloud.
Cloud Computing in US v EU
Cloud computing is still a relatively new technology but its adoption in the States isn't that modest. In Europe, however, cloud computing is still not that popular. Of course, it is not unheard of but the rates of adoption are somehow lower than desired.
It is true that building a cloud computing infrastructure is not cheap, and millions, if not billions of dollars are required before you can reap the benefits.
If European companies don't invest in cloud computing, they won't be able to gain from it. On the other hand, before you invest, you usually ask what you will get in return. Maybe the reason why European companies are not investing heavily in cloud services is that they see no return on their investment. Research shows just the opposite — cloud computing is a golden mine for European companies and the economy in the Eurozone as a whole.
Europe Could Make Big Money From the Cloud
Cloud computing sounds great but how do its advantages translate in terms of money? According to the CEBR report, the annual monetary benefit in the next 5 years for the 5 largest economies in the Eurozone would be:
- Germany - €49.6bn
- France - €37.4bn
- Italy - €35.1bn
- Spain - €25.2bn
- UK - €30.0bn
This means that the annual income from cloud computing in these 5 countries alone amounts to €177.3bn. The other smaller countries in the Eurozone might not make so much money in nominal terms but when you add their contributions, it might turn out that they exceed the amount made by the 5 largest countries.
Additionally, cloud computing could create in these 5 countries 466,000 new jobs a year. This isn't a negligible figure, especially keeping in mind the high rates of unemployment in many European regions.
Figuratively speaking, the report says that money grows on trees and waits to be picked. Even if the forecasts are a bit overoptimistic (because the report has been commissioned by EMC (news, site)), the trend is hardly mistaken. Money waits in the cloud and Europe just needs to stretch a hand and pick it.