Global businesses are increasingly in search of ways to streamline their operations, whether it is through the use of small business software or other programs.
However, IHS Technology believes that cloud-based architecture will benefit from increased spending over the coming years, as companies reassess their IT services.
Spending in 2014 is expected to increase 20 per cent compared to last year's figures - and this will continue as businesses increasingly rely on their own cloud-based storage solutions.
Jagdish Rebello, senior director and principal analyst for the cloud and big data at IHS, explained that there are widespread benefits from making the switch to this type of system.
The content is scalable, dynamic and available on demand - not to mention that it doesn't require much management, the expert noted.
"The robust growth will come as an increasing number of large and small enterprises move more of their applications to the cloud, while also looking at data analytics to drive new insights into consumer behaviour," he commented.
Firms hoping to offer online storage, analytics and computing are recognising the value of the cloud, not least because of the vast amounts of media that are now being consumed using mobile devices.
Larger storage solutions are therefore extremely necessary, which the cloud is more than ready to provide.
Wireless providers are expected to be among those benefiting from a cloud switch. IHS explained they are well placed to take advantage of the trend and bring value to their customers.
Providers can help companies reduce churn, as well as assist them in seeking out demographic information that can help tailor solutions for existing clients.
However, wireless systems have so far lagged behind other stakeholders, so there will be growing pressure on the sector to make the most of cloud-related revenue.