Asia Pacific SMB cloud services market opportunity will grow 38 percent annually (CAGR), reaching US$19.8 billion in 2015, as per a new industry report by Parallels.
In 2012, this market was worth US$7.6 billion, and both India and China will continue to be the leading growth markets for cloud services in the coming years.
SMBs are still the fastest growing segment for cloud services and service providers of all sizes aim to tap this lucrative market.
"Parallels SMB Cloud Insights research is core to our commitment to help service providers make both strategic and tactical decisions about the rapidly growing market for SMB cloud services," said Birger Steen, CEO of Parallels.
Asia Pacific grows more than the global market
Findings from the Parallels report also indicate growth in global market for SMB cloud services as it is expanding at a 28 percent CAGR and will reach US$95 billion by 2015.
About six million SMBs entered the cloud market in 2012 and globally, the cloud services market grew to US$45 billion during the same period.
Parallels adds that all SMB cloud offerings should have Web hosting, email, security and backup and 50 percent of SMBs are ready to pay more for increased storage.
Service providers can gain a competitive advantage by using website building tools as 22 percent of US SMBs are building and managing their websites with such tools.
Thirty percent of US SMBs intend to adopt website building tools by 2015.
"We are pleased with the responses we are receiving from our service provider partners and will continue making a substantial investment in our expertise and knowledge initiatives," added Steen.