Spending on IT cloud services to reach $42 bln by 2012

Over 2008-2012 IDC expects spending on IT cloud services to grow almost threefold, reaching 42 bln USD by 2012 and accounting for 9% of revenues in five key market segments. More importantly, spending on cloud computing will accelerate throughout the forecast period, capturing 25% of IT spending growth in 2012 and nearly a third of growth the 2009, according to IDC.