Wednesday, August 14, 2013

NSA damages US Cloud Business and Cloud Providers

Spying concerns "will likely have an immediate and lasting impact on the competitiveness of the U.S. cloud computing industry if foreign customers decide the risks of storing data with a U.S. company outweigh the benefits," according to the think tank's report. A $21.5 billion or $35 billion loss of revenue would be the equivalent of 10 percent or 20 percent of the estimated market, respectively. (source infra)

Thanks to the NSA, the Sky May Be Falling on U.S. Cloud Providers - Bloomberg: " . . . . U.S. cloud providers could lose between $21.5 billion and $35 billion in revenue over the next three years because of worries about the National Security Agency's PRISM program, which enables the government to access user data from U.S. Internet companies, according to a report this week by the Information Technology & Innovation Foundation. . . . . The estimate is partly based on market-share projections and a global survey, which found that more than half of respondents, including companies and other industry professionals based outside the U.S., said they would be less likely to use a U.S.-based cloud service in light of Prism. Ten percent said they had already canceled a project with a U.S.-based Internet company as a result, according to the Cloud Security Alliance, the trade group that conducted the survey. . . ." - technology news: NSA has negative effect on US and US tech: "OK, so a few tech companies are getting rich off NSA contracts (Booz Allen et al), and of course politicians get plenty of political contributions from those contractors to keep the NSA expanding, but the nation at large, and its tech industry, are being ill-served by this out-of-control, ever-expanding federal spy agency. One is left to wonder--what is the greatest threat to America today--al Qaeda or the NSA?. . ."

NSA spying may cost cloud companies $35 billion | The Technology Chronicles | an blog: "The National Security Agency surveillance programs aren’t just costing the United States credibility on the world stage — they’re costing domestic tech companies big money. The recent revelations that the NSA is closely tracking the electronic footprints of foreign citizens could cut as much as $35 billion off the top lines of U.S. cloud computing companies over the next three years. It might also put the nation’s leadership position in the fast growing sector at stake. That’s according to a new study by the Information Technology and Innovation Foundation, which tried to assess the financial toll of the clandestine PRISM program uncovered by The Guardian and Washington Post in early June. . . ."

More Cloud News below--computing, storage, infrastructure, security

No comments:

cloud computing news

cloud security news

cloud infrastructure news

cloud storage news

Google Cloud Platform Blog