US cloud industry set to lose up to $35bn because of PRISM

According to a report from the Information Technology and Innovation Foundation (ITIF), the repercussions of PRISM means that, over the next three years, the US cloud computing industry can lose from $22bn to $35bn due to reneged market share.

Anyone hoping this is a brand new piece of research may be slightly disappointed, although they’re not entirely wrong either.

Last month, CloudTech reported on a survey from the Cloud Security Alliance (CSA) which revealed how, for one in 10 companies, they had gone so far as to cancel business with a US CSP because of the PRISM allegations.

And the ITIF report admits partially guesstimating these figures from the CSA research. “We might reasonably conclude,” the report author, Daniel Castro writes, “that given current conditions, US cloud service providers stand to lose somewhere between 10 and 20% of the foreign market in the next few years.”

The report gives …