EMC: Cloud computing growth to generate 300,000 UK jobs

Research attempts to pinpoint economic impact of cloud computing adoption over next five years

Research backed by EMC predicts cloud computing adoption will create nearly 300,000 UK jobs by 2015.

Part two of the storage giant's 2011 Cloud Dividend report, which was conducted by The Centre for Economics and Business Research (Cebr), examined the potential economic impact of cloud computing on key industries across EMEA.

According to its findings, the rollout of cloud will create 2.4 million jobs across the region by 2015, with the expected economic benefit put at €763bn (£641bn). This will be from a mix of accelerated business creation, business development and cost savings.

The distribution, retail and hotel sector will benefit the most, with €233bn in value set to be created, the report found. Seventy-seven per cent of that value will be derived from private and hybrid cloud solutions, it added.

However, the public sector will be the biggest gainer in terms of job creation, with 801,000 positions expected to be created over the next five years.

Meanwhile, cloud computing will see the creation of 207,000 jobs and €184bn in value in the banking, financial and business services vertical, the report found.

On a country level, the total economic benefit to the UK is expected to be €118bn, with 289,000 jobs set to be created.

Adam Thilthorpe, director of professionalism for the British Computer Society said: "IT is driving change through our private companies, public sector services and social lives. The benefits extend to wealth creation and employment opportunities for UK plc."

EMC Consulting's vice president EMEA, Sandra Hamilton, said: "A critical element in businesses achieving the competitive advantage presented by cloud computing lies in the successful virtualisation of mission-critical and revenue-generating applications.

"That will be key to realising the full cloud dividend - and to deriving the powerful growth and productivity gains which, as the new report shows, can lead to meaningful job creation across the EMEA region."