Verizon sees clouds rising to $150 billion by 2020

09/22/2011 | Bloomberg

Verizon Communications predicted a 15-fold increase in the market for cloud-computing services, from $10 billion to $150 billion, by 2020. Kerry Bailey, group president of Verizon unit Terremark Worldwide, told reporters in Amsterdam that Verizon has earmarked "well over $2 billion" on cloud technology in 2011 following the telecom's purchases of Terremark and CloudSwitch.

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