Almost 70% of business and technology executives in APAC believe that cloud computing will be at least as disruptive to the technology landscape as the impact of virtualization or the internet, according to Coleman Parkes Research's survey findings.
Commissioned by HP, Coleman Parkes' survey, titled "HP Research: The Future of Cloud," was conducted in February on 550 senior business and technology executives within enterprises and midmarket companies.
The survey revealed that though the adoption of public and private cloud services will increase by 2020, traditional technology will remain integral to the enterprise.
The other key findings of the study include:
Currently, only 27% of enterprise delivery models are cloud-based. By 2020, senior business and technology executives expect public and private cloud delivery models to increase by 50%.
Business and IT executives recognize that cloud implementation will be critical to driving successful outcomes and innovation. About one in two CEOs and CFOs are currently setting cloud strategies for their organizations.
Organizations are prioritizing cloud investments, with 80% of enterprises expected to invest $100,000 to US$1 million annually on cloud computing between now and 2020.
The top drivers of cloud adoption are rapid application development (53%), enhanced agility to respond to market changes (29%) and reduced cost of operations (18%).
The top three barriers to cloud services adoption are security concerns (35%), transformation concerns (31%), and compliance or governance concerns (16%).