U.S. Tech Industry Spy Tab Could Top $30 Billion

Recent revelations about the National Security Agency's data gathering could cost U.S. tech companies $22 to $35 billion during the next three years, according to a report this week from a Washington think tank. Former U.S. government contractor Edward Snowden's leaks in June about NSA data collection may benefit cloud-computing businesses outside of the United States, particularly in Europe, that are working to edge out their U.S. counterparts, The Information Technology & Innovation Foundation report says. By 2016, cloud computing could be a $207 billion industry worldwide, with $113.9 billion of the market outside the United States. Following the NSA disclosures, the U.S. share of the non-U.S. market in 2016 could be as low as 55 percent, as much as 20 percent less than if Snowden never made the revelations. Affiliate publication Corporate Counsel has more.

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