Clouds can be classified as public, private or hybrid. Cloud computing is about renting processor power and data storage capacity from infrastructure–as–a– service providers such as Amazon. This means the whole services and information data of a company is stored at one place and from where we can take information stored in any device connected to it whenever we need it with the help of cloud.
Cloud computing has been around for a quite some time, and goes as far as the birth of e mail. With the help of this cloud computing software the companies have started renting servers and storage instead of purchasing hardware and running at huge costs. And with more organizations – especially those that rely on India’s outsourcing infrastructure – transferring some of their IT work onto the cloud and this has helped companies to facilitate that shift and have positioned themselves as enablers between owners and renters. It was published in a survey on IT sector that in India alone the market for cloud based services will rise by a third to $557 million this year, and more than triple by 2018.
Infosys has been actively growing its cloud based services business, using its cloud-based services business, using its Cloud Ecosystem Hub. This could well be the heart of its future. In its June quarter results, Infosys announced that its cloud and big data business has executed more than 260 engagements, and has won 20 contracts in the last quarter itself.
With the use of cloud, the companies can conduct their operations at an ease and can provide services also at low cost through internet. This will help the IT sector to boom at its best and develop with a friction of time. Hence, we are bullish on IT sector companies – Infosys, HCL Info system, and Infinite Computer Solutions.