An increasing number of North American organizations are looking to increase their budgets to accommodate an investment in cloud computing technologies.
The TechTarget survey of more than 500 enterprises found that 70 per cent are looking to adjust their budgets to include extra funding for the hosted data management services, SearchCloudComputing reports.
However, the research found that on average companies are only willing to dedicate around ten per cent of their overall IT budget on cloud software.
"We're figuring out how to use cloud … we're cautious about it and waiting for the standards and governance to develop a little bit more," Lana Davenport, data security services analyst at FedEx Corp, told the news provider.
"The biggest concern is with data ownership at this point. Data is the most valuable asset that we have."
Meanwhile, the cloud infrastructure as a service market is set to record strong worldwide growth in the coming years, with Gartner estimating it will grow from $3.7 billion in 2011 to $10.5 billion in 2014.
Posted by Rachel Wheeler