Cloud Computing is not a latest technology. Cloud computing has evolved (develop gradually) through a number of phases which includes Grid Computing, Utility Computing, Application Service Provision, and Software as a Service etc.
But the overarching (overall) concept of delivering Computing resource through a global network is started in the sixties.

By 2020 The Cloud computing market is forecast to exceed $241 Billion. But how did we get here and where did all this started is the history of Cloud computing.
The actual history of Cloud computing is not that old, the first business and consumer Cloud Computing services website (Salesforce.com and Google) were launched in 1999. Cloud computing is tied directly to the development of the Internet and Business technology since Cloud computing is the solution to the problem of how the Internet can help improve Business Technology.

Business technology has long and fascinating history, one that is almost as long as business itself, but the development that most directly influenced the history of Cloud computing start with the emergence of computers as providers of real business solutions.

History of Cloud Computing

Cloud computing is one the most innovative technology of our time. Following is a brief history of Cloud computing.

The-History-of-the-Cloud

Early 1960S

The computer scientist John McCarthy, come up with concept of timesharing, and enabling Organization to simultaneously use an expensive mainframe. This computing is described as a significant contribution to the development of the Internet, and a pioneer of Cloud computing.

In 1969

The idea of an “Intergalactic Computer Network” or “Galactic Network” (a computer networking concept similar to today’s Internet) was introduced by J.C.R. Licklider, who was responsible for enabling the development of ARPANET (Advanced Research Projects Agency Network). His vision was for everyone on the globe to be interconnected and being able to access programs and data at any site, from anywhere.

In 1970

Using virtualization software like VMware. It become possible to run more than one Operating System simultaneously in an isolated environment. It was possible to run a completely different Computer (virtual machine) inside a different Operating System.

In 1997

The first known definition of the term “Cloud Computing” seems to be by Prof. Ramnath Chellappa in Dallas in 1997 – “A computing paradigm where the boundaries of computing will be determined by economic rationale rather than technical limits alone.”

In 1999

The arrival of Salesforce.com in 1999 pioneered the concept of delivering enterprise applications via simple website. The services firm covered the way for both specialist and mainstream software firms to deliver applications over the Internet.

In 2003

The first public release of Xen, which creates a Virtual Machine Monitor (VMM) also known as a hypervisor, a software system that allows the execution of multiple virtual guest operating systems simultaneously on a single machine.

In 2006

In 2006, Amazon expanded its cloud services. First was its Elastic Compute cloud (EC2), which allowed people to access computers and run their own applications on them, all on the cloud. Then they brought out Simple Storage Service (S3). This introduced the pay-as-you-go model to both users and the industry as a whole, and it has basically become standard practice now.

In 2013

The Worldwide Public Cloud Services Market totalled £78bn, up 18.5 per cent on 2012, with IaaS (infrastructure-as-a-service) the fastest growing market service.

In 2014

In 2014, global business spending for infrastructure and services related to the cloud will reach an estimated £103.8bn, up 20% from the amount spent in 2013 (Constellation Research).

Vision of Cloud Computing

We have seen how far Cloud computing has progressed in the short time since its initiation. Now lets have a look on what may become of Cloud computing technology in the future.

Future-of-the-Cloud-Computing
Following are few forecasts of what we might expect in the coming future of Cloud computing:

Cloud computing will become even more prominent in the coming years with rapid, continued growth of major global cloud data centres.
50% of all IT will be in the cloud within the next 5 – 10 years.
There will be a greater use of cloud technology as a whole across emerging markets such as in the BRIC countries (Brazil, Russia, India and China) as they continue to develop and progress. The uptake will be particularly evident in Asia where there is already a trend to stay on the edge of the latest technology.
Data for companies and personal use will be available everywhere in standardized formats, allowing us to easily consume and interact with one another at an even greater level.
The security and reliability of cloud computing will continue to evolve, ensuring that data will be even more secure with numerous techniques employed.
We will not even consider ‘cloud’ as the key technology, instead we will focus on the services and applications that it enables.
Combining cloud technology with the Internet of Things (IOT), Wearables and Bring Your Own Device (BYOD) will become the norm in personal and working lives, so much so that the presence of cloud technology as an enabler will be overlooked. An estimated 50% of organisations will require employees to use their own devices by 2017.
The total global cloud computing spend will reach $241 Billion in 2020.

The future of the cloud is far from certain. The rapid pace at which technology has changed in the last 5 years makes the next 5 near impossible to predict. However it must be said that ultimately the cloud is growing exponentially and will continue to do so for some time to come.