Cloud computing investments in Malaysia will grow by more than 20 times over the next eight years to hit RM2.8 billion (US$873 million), according to Forrester Research. It added the global cloud computing services market will reach RM509 billion (US$158.7 billion).
This area will continue to be a key area of development for Malaysia's ICT roadmap, which saw the sector create 3,000 jobs last year, said Badlisham Ghazali, CEO of Multimedia Development Corporation (MDEC), according to Bernama news agency.
"Its benefits in delivering on economies of scale, shared computing platforms, more cost effective investment into infrastructure and greater human resources efficiencies, are things we can no longer ignore," he said in an speech the MSC Malaysia Cloud Conference on Wednesday.
He pointed out MDEC's MSC Malaysia Cloud Initiative launched in 2011 had enabled Independent Software Vendors (ISVs) to deploy cloud software and services as a utility, while catalyzing demand by local enterprises for "Made in Malaysia" cloud software and services.
The CEO noted there were now more than 100 ISVs approved under MMCI, contributing close to RM16.1 million (US$5 millon) in revenue last year. With more ISVs coming on board in 2013, this number is expected to hit RM20 million ($6.2 million) by end-2013.