It is an Internet-based hosting service that uses remote servers to store, manage and process data for companies. Cloud computing does not require permanent installation of hardware components at a customer's location, but rather relies on the provider's infrastructure and services to provide access to the resources. This approach provides flexibility and scalability from one provider that can scale up or down as required by business needs. Cloud providers can offer services to multiple businesses concurrently and in a secure form. Cloud computing also is noted for its ability to increase efficiency by allowing multiple users who often have different access requirements to share storage resources without having separate physical locations so that much of the work can be done remotely.


Cloud computing has become a multibillion-dollar industry, with rapid growth. Wikibon believes that from 2016 to 2026, all categories that make up the enterprise cloud will increase at a compound annual growth rate of 19 percent, according to their Cloud Vendor Revenue Projection Project . Traditional infrastructure, on-premise software, and legacy business process outsourcing approaches will have a negative 3 percent CAGR. The dynamic consequences of cloud adoption are already manifesting themselves in the three most prominent cloud computing service models: software-as-a-service (SaaS), infrastructure-as-a-service (IaaS), and platform-as-a-service (PaaS).


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