Cloud Services
Also called “virtual data rooms,” cloud services are growing quickly, with industry revenue expected to hit $728M this year, a 16-percent increase from 2012. The industry has seen an annualized growth rate of 15.8 percent since 2008. Fueling the growth is the global push toward online services. The growth of access-limited document sharing infrastructures – and programmers – has enabled the industry to flourish without huge investments, notes IBISWorld. As the number of new enterprises increases, industry revenue is forecast to grow at an annualized rate of 14.2 percent over five years. “The amount of data being collected by humans and machines is growing exponentially,” says Neal. “Startups are rushing to find solutions to capitalize on this.”
