With several major companies upping their bets on enterprise cloud computing, one CEO said there's still a chance for players to catch up with current front-runner, Amazon.
"The data shows it's a multicloud world," Taylor Rhodes, Rackspace CEO, told CNBC's "Squawk Alley" Wednesday. "Today most of IT still runs in a corporate data center. ... We think over the next 10 years, this shift out of traditional IT models into the cloud will create space [in the market]."
Rackspace provides support and cybersecurity for businesses planning to migrate files to cloud storage, so data can be stored in off-site servers and accessed on an Internet connection. It has partnerships with the likes of Amazon, Microsoft and Alphabet's Google to provide added-value services on top of cloud infrastructure.