The benefits of Cloud computing cannot be under estimated. The biggest player in this new technology is the e-commerce giant Amazon(AMZN). Amazon Web Services(AWS) generated over $12.0 in revenue in 2016. Other companies such as Microsoft(MSFT), Alphabet(GOOG) are also growing their cloud offerings.
The following chart shows some of the benefits of cloud computing over traditional IT:
Click to enlarge
Source: Global Technology – Cloud Computing: In Early Stages and Spreading Globally by Paul Greene, T.Rowe Price
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