The loss, meanwhile, could have a devastating financial effect on the U.S. cloud market. According to the report, the industry could face a loss between $22 to $35 billion dollars over the next three years (Ouch!).
The group noted that the U.S. was currently leading the cloud market but is beginning to face competition from places abroad.
The contention of financial loss was based on a survey carried out by the Cloud Security Alliance to its members regarding their reactions to the leak of previously classified NSA program information.
“For non-U.S. residents, 10 percent of respondents indicated that they had cancelled a project with a U.S.-based cloud computing provider; 56 percent said that they would be less likely to use a U.S.-based cloud computing service. For U.S. residents, slightly more than a third (36 percent) indicated that the NSA leaks made it more difficult for them to do business outside of the United States,” stated the organization via its report.
The U.S. has defended its PRISM program since it was leaked by former NSA worker Edward Snowden, maintaining it’s used to combat terrorism.