According to a recent In-Stat study, public cloud spending is predicted to grow by 153 percent from 2010 to 2015.

Although small- and medium-sized businesses lack the spending prowess of larger enterprises, SMB growth is actually the fastest rising segment in cloud computing. In 2010, SMBs spent $2.5 billion on the technology and, according to the study, are projected to increase their cloud budgets to $6.6 billion in 2015.

While cloud computing is expected to grow significantly in the future, Infrastructure-as-a-Service appears to be on the same path. According to the study, IaaS is projected to grow to approximately $4 billion by 2015.

Also, Software-as-a-Service is expected to grow 142 percent between 2010 and 2015.

“Many SaaS applications have been around for a long time, but only now since the advent of entire platforms for applications, such as Google Apps and Force.com, are these applications gaining the necessary visibility among businesses to gain traction in the software market,” said Greg Potter, analyst for In-Stat.

Smaller companies looking to gain entry into a certain market stand to benefit from a cloud deployment. According to expert Ivanka Menken, the technology can help startups lower their costs and generate revenue by utilizing the service early on.