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Though it is not new technology cloud computing didn't catch up fast during the past five years. However, now everyone agrees that it is the future of computing. The concept was there from 2007 but most people were not happy to grab it at once. Since the interest on it is growing, the future of computing certainly lies there.
Though many predicted that computing with cloud is going to be a failure, the technology caught up slowly and steadily to find its deserving place mostly due to the convenience and the cost reduction it offers. At a time every large company was looking for cost cutting the success of cloud is not strange.
As it is a method of sharing resources, it became successful as its weaknesses were ironed out. Presently 20% of the companies are using the technology. In the near future it is going to improve to very high levels.