By the end of 2012 a majority of organizations believe between 20 and 30 per cent of their IT delivery will be by private or public cloud.
And within three years three quarters of respondents expect that between one quarter and one half of their IT delivery will be by public and private cloud.
More than 60 percent of IT decision makers within EMEA based utilities, financial services and public sector organizations are planning to use the cloud to radically alter customer, citizen and employee interaction in terms of instant access to information, hp said.
The survey was across 10 markets in Europe, the Middle East and Africa around IT trends in the financial services, utilities and public sector.
Security is the number one consideration for cloud followed by automation.
Nearly six out of ten of respondents across all industries say the lack of understanding about hybrid cloud represents the greatest potential barrier to adoption of cloud computing for their organization and are seeking advice.
Respondents said they view IT as a profit center for their organization.
The research was conducted by Coleman Parkes for HP across 10 markets in EMEA: UK, France, Germany, Italy, Sweden, Russia, Czech Republic, Netherlands, South Africa and the Middle East. The number of respondents was 940.
HP is pushing its Enterprise Cloud Services for public and private cloud and has a series of workshops offering cloud migration information.