Many companies say they will adopt cloud computing within two years

One-third of 1,200 organizations (33%) plan to convert their application environments away from a traditional, client-server model to one based on virtualization and cloud computing over the next two years, according to a study commissioned by Microsoft and released today. The study sought to broadly determine global IT spending priorities.

While the survey was far from comprehensive, it did uncover a few silver-lining facts. IT spending budgets will not be cut, with 98% saying they will generally maintain or increase their planned investment. Nearly 2/3 say the economy has created reason to invest more in one or more areas of technology. And of those, virtualization, security, systems management and cloud computing are the areas of choice.