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Cloud computing is experiencing tremendous growth right now, as more and more businesses realize the advantage of storing and managing information in the cloud. You should know this already – if you haven’t been living under a rock.

According to a recent article on Forbes.com, nearly 60 percent of small-to-medium-size businesses are using cloud services – with an anticipated growth rate of six percent in the next six months. And speaking of growth rate, a report by Statista.com predicts cloud-based Infrastructure-as-a-service revenue will reach over 24 billion USD by 2016.

So what does this growth represent? Let’s check out a few current trends.

First, IaaS solutions are expected to continue growing tremendously, predicted by Gartner to reach a staggering compound annual growth rate of 41.3 percent through 2016. IaaS is the fastest growing area of public cloud computing the research firm tracks, according to Forbes. The SaaS market will also continue growing, but at a more steady pace of 19.5 percent through 2016, according to Gartner.

There’s also a continued rapid growth of hybrid solutions, where organizations combine cloud and collocation principles at the same time – the IT equivalent of having your cake and eating it too. While massive cloud players such as Amazon Web Services push for cloud use exclusively, a majority of providers still feel there’s a place for on-premise assets.

And finally, web-powered apps will undoubtedly make their way deeper into the cloud market, as end users begin to catch on to the benefits of not only storing their work – but directly creating it – on the cloud. Google Drive has paved the way with cloud-based apps, and it won’t be long before the Internet becomes the main platform for these applications.