US Cloud Computing Industry Might Lose Up To $35bn Over NSA Revelations

US Cloud Computing Industry Might Lose Up To $35bn Over NSA Revelations

US Cloud Computing Industry might lose up to $35bn over NSA revelations 

US tech giants fear that they can lose up to $35bn in cloud computing contracts over the next few years after the news came out that US companies share stored data with the government’s surveillance organization NSA.

After recent revelations that popped up online indicating the possible sharing of data with NSA, many companies outside the US have already showed concerns over handing out their data to US firms running the cloud computing business and the effect has already started to make an impact as some US companies claim that they have already lost millions of dollars due to this proclamation.

PRISM

It is firmly believed that many of the UK and other European firms are looking for cloud computing services outside the US. British Executive Simon Wardley has already shown its disappoint over this matter in a very sarcastic way by saying, “Do I think we should be prepared to go the whole hog, ban US services and create a €100bn investment fund for small tech startups in Europe to boost the market … oh yes, without hesitation.”

A recent survey taken by the ITIF about the US companies offering cloud computing and storage systems clearly showed that businesses in the US are in very bad shape following the NSA revelations. According to the survey, US companies may lose about 20% of the cloud computing share of the overseas market to its other European rivals.

Projects such as Prism and Xkeyscore are also considered to be top assets for NSA in accessing stored data of all the big firms including Apple, Google and Microsoft. According to the sources, Prism was used by NSA to access user details of individuals that live outside the US while the Xkeyscore is believed to have access to almost every individual’s data on the internet that NSA can access any time.

According to the chairman of ANS Group of UK Scott Fletcher, people in UK are already pushing for a local UK based cloud computing service since the relationship between the two countries are not great in terms of reliability.

So far, no US government official has either denied or responded to these allegations about the cloud computing and the level to which NSA has access to people’s data that travels inside the US. It is believed that the total worth of cloud computing business in the whole world is around $207bn by the end of 2016 and more than half of it belongs to US. But with the recent allegations over NSA could really hurt these figures for the US, and they should take any precautionary measure whatsoever to save their cloud computing market from going into total chaos.

By Ben Anderson

Follow Us!

CloudTweaks

Established in 2009, CloudTweaks.com is recognized as one of the leading authorities in cloud computing information. Most of the excellent CloudTweaks articles are provided by our own paid writers, with a small percentage provided by guest authors from around the globe, including CEOs, CIOs, Technology bloggers and Cloud enthusiasts. Our goal is to continue to build a growing community offering the best in-depth articles, interviews, event listings, whitepapers, infographics and much more...
Follow Us!

One Response to US Cloud Computing Industry Might Lose Up To $35bn Over NSA Revelations

Join Our Newsletter

Receive updates each week on news, tips, events, comics and much more...

Can I Contribute To CloudTweaks?

Yes, much of our focus in 2015 will be on working with other influencers in a collaborative manner. If you're a technology influencer looking to collaborate long term with CloudTweaks – a globally recognized leader in cloud computing information – drop us an email with “tech influencer” in the subject line.

Please review the guidelines before applying.

Contributors

Cloud Infographic – Wearable Tech And Preventative Healthcare

Cloud Infographic – Wearable Tech And Preventative Healthcare

Wearable Tech And Preventative Healthcare There are so many exciting new opportunities available to utilize wearable technology in the future.  Areas such as nanotechnology disease monitoring, crowdfunding to wearable accessories are some excellent examples of the potential. Estimates vary, but appear to suggest that the market will produce between $14-50 Billion over the next few years. Included below

Ten Tips For Successful Business Intelligence Implementation

Ten Tips For Successful Business Intelligence Implementation

Ten Tips for Successful Business Intelligence Implementation The cost of Business Intelligence (BI) software goes far beyond the purchase price. Time spent researching, implementing, and maintaining your BI investment can snowball quickly and mistakes are often expensive. Your time is valuable – save it by learning from other businesses’ experiences. We’ve compiled the top ten

Knots And Cloud Service Providers

Knots And Cloud Service Providers

How Do These Two Compare? In Boy Scouts, I learned how to tie knots. The quickest knot you can tie is the slipknot. It’s very effective for connecting one thing to another via the rope you have. It was used in setting up tents, mooring boats to docks temporarily and lifting your food up into

Aggregated News

Popular News Sources

Storage Considerations for SharePoint Backups

Storage Considerations for SharePoint Backups

Storage Considerations for SharePoint Backups Wednesday, October 29, 2014 @ 9:00 am/12:00pm ET. Backup and Restore of a SharePoint environment can be a complex endeavor as the product consists of multiple components running at various tiers, each with their own backup and restore requirements. In addition, SharePoint documents are stored as Binary Large Objects (BLOBs) in

OpenDNS Deployment Leads to Twenty-Fold Decrease in Malware Infections at Hamamatsu

OpenDNS Deployment Leads to Twenty-Fold Decrease in Malware Infections at Hamamatsu

Decreases in Malware Infections at Hamamatsu OpenDNS, a leading provider of cloud-delivered security, today announced that it has enabled Hamamatsu, a Japanese manufacturer of optical sensor technologies, to virtually eliminate malware infections across its U.S. Read the source article at Finance News About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized as one of the

IBM and Microsoft – What Are They Doing With The Hybrid Cloud?

IBM and Microsoft – What Are They Doing With The Hybrid Cloud?

What Are They Doing With The Hybrid Cloud? “Microsoft is committed to helping enterprise customers realize the tremendous benefits of cloud computing across their own systems, partner clouds and Microsoft Azure,” said Scott Guthrie, executive vice president,Cloud and Enterprise, Microsoft. “With this … Read the source article at CNNMoney About Latest Posts Follow Us!CloudTweaksEstablished in 2009, CloudTweaks.com is recognized