In a new report, Pacific Crest analyst Brent Bracelin discussed the huge opportunities in cloud computing and which stocks will be the beneficiaries. According to Bracelin, 2016 will be the beginning of the next major business cloud adoption cycle, and top 20 cloud capex could rise 21 percent this year.

“Billions of IT dollars should shift out of legacy IT as application workloads move to the cloud,” Bracelin explained. He predicts Infrastructure-as-a-Service (IaaS) revenue will increase by three times for Amazon.com, Inc. AMZN 2.79%, four times for Microsoft Corporation MSFT 1.5% and five times for Alphabet Inc GOOGL 0.06% GOOG 0.12% in the next few years.

Overall, he sees a $25 billion opportunity for these three market leaders in coming years.

Alphabet, Amazon And Microsoft Could Take Market Share Away From These Issues

In terms of market share, Bracelin says…

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