Survey forecasts heavy cloud investment for majority of businesses

The almost unanimous adoption of cloud computing is on track to continue over the next three years, according to a recent survey by SAP and the Oxford Economic Briefing. The report's findings indicate moderate-to-heavy cloud investment is very much the plan.

Of the 200 executives surveyed in late 2014, 99% admitted that cloud computing is part of their company's business strategy today and 69% expect their company to make moderate-to-heavy cloud investment over the next three years.

What will be in the cloud though? Within three years almost every respondent replied that innovation, R&D and supply chain will be "somewhat or mostly" cloud-based and one-third (33%) said that choosing cloud computing has had a transformative effect on the business. Fifty-nine percent of respondents stated that they utilize the cloud to better manage and analyze data, anytime and anywhere.

Security still an issue

Only 18% of respondents said that the security of corporate data in the cloud was a concern. Respondents' biggest worries are identity theft (48%), security of IP (46%) and security of API and interfaces (44%).

The 200 executives surveyed worked for companies headquartered in 11 countries including the US, Brazil, Germany and China, and were made up of C-level executives, business-unit heads, and IT and operations executives representing firms from a number of sectors.