The numbers speak: Amazon cloud soon to be a billion-dollar business

For anyone wondering about the economic viability of publicly delivered, platform-as-a-service cloud computing, here's something to ponder: Amazon Web Services is on track to become a $1 billion business within the next three years. Business Insider quotes UBS analyst Brian Pitz, who estimates the annual revenue for AWS at about $500 million this year, growing to $750 million next year.

For anyone wondering about the economic viability of publicly delivered, platform-as-a-service cloud computing, here's something to ponder: Amazon Web Services is on track to become a $1 billion business within the next three years. Business Insider quotes UBS analyst Brian Pitz, who estimates the annual revenue for AWS at about $500 million this year, growing to $750 million next year.

Amazon's Web services business alone may have a valuation of about $3.4-$3.8 billion, Pitz estimates.

Of course, things change awfully fast in this industry, and today's multi-billion-dollar trend becomes tomorrow's stone-age technology. But still, there appears to be an impressive market for public cloud services. Something for other IT shops with spare capacity to consider.