Consultancy expects business growth in cloud computing, clean energy

A recent report from Tata Consultancy Services expects the market for cloud computing and clean energy to boom during 2011.

The group itself will see significant business growth in these areas, investing more in the technologies to facilitate its daily IT responsibilities.

“These are the growth engines of the future,” said Ajoy Mallik, the company’s head of co-innovation ecosystem initiative, which is based in Santa Clara, California.

Mallik pointed to wind, water, biomass and fuel cells as possible clean energies he hopes to investigate soon. In 2009, global subsidies for clean and low-carbon energies total nearly $57 billion, according to the International Energy Agency.

As for cloud computing, the market for the managed IT service has never seemed brighter. Several recent reports have estimated significant figures for its potential market in the upcoming years. IDC believes revenue for the public cloud market will reach $29.5 billion by 2015. Meanwhile, Osterman Research found that companies currently in the cloud will further their investments by 10 percent during 2011.