According to new data from Research and Markets (www.researchandmarkets.com), the global mobile cloud market will be worth $38.48 billion by 2020.

The mobile cloud market includes a combination of cloud computing, mobile computing and wireless technologies and networks to enhance the computational power. The beneficiaries of the technology are the mobile/smartphone users, network operators and cloud service providers, since the smartphone, tablet and cloud computing technologies are converging into the new mobile cloud market, notes Research and Markets. The mobile cloud market is projected to grow from US$9.46 billion in 2015 to $38.48 billion in 2020, at an estimated compound annual growth rate of 26.34%.

Mobile cloud technology is broadly four types: Immobile Clouds, Proximate Immobile Computing, Proximate Mobile Computing and Hybrid Computing. At a time when mobile technologies have radically altered business around us, almost everything today from text files and documents to music and videos is stored on the cloud today.

Research and Markets says that one of the primary advantages of using the cloud technology for storage is the space, ease of use, scalability, integration and synchronization-capability, reliability and security it offers the data. The market leaders in the domain are Amazon Web Services, Google, Inc., Microsoft Corporation, Apple Inc, Salesforce, EMC, IBM and Oracle. Other popular vendors of the technology are Rackspace, Inc., Eucalyptus Systems, GoGrid, HP and Akamai Technologies, Inc.