More Than One-Third of IT Budgets Now Spent on Cloud: Survey

Companies are investing heavily in cloud computing, a new survey of 1,650 IT and business executives shows. On average, they report, more than a third, 34%, of their current IT budgets are now allocated to cloud computing solutions.

These are some of the findings of the IDG Enterprise Cloud Computing Study, conducted in January 2012. Most of these budgets are going to private clouds hosted within the walls of enterprises. Private cloud deployments are currently where the majority of information is stored in the cloud (24%), and the trend will continue to dominate 18 months from now (33%).

Read More of Joe McKendrick’s Blog Post on Forbes