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CEO: Sky's the limit for cloud computing competitors

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.

"Enterprises are now out of excuses," Rhodes said. "They want to get into cloud models. But they are constrained by having the right partners who can help them get there, and then run it effectively and add value to it. So we see the adoption even increasing at a greater pace."

Rhode's comments come as Amazon announced a new data analytics service to accompany its cloud service, Amazon Web Services, that already dominates the market. On top of news from Amazon's annual developer conference, other companies have also made big moves into the cloud space as of late.

Data company Pure Storage launched for trading on the public market Wednesday, dipping beneath its IPO price in early trading. And IBM, for example, has committed billions in investments to expand their cloud computing and business strategy services.

"There's a very high need for enterprises to have systems integrators and partners," Andy Jassy, Amazon Web Services executive, told CNBC. "We expect there's a really robust business there, too."