NSA spying may be harming American tech companies’ bottom line

There's been much speculation that Edward Snowden's revelations about the NSA spying program PRISM have damaged U.S. tech companies' credibility among international clients who were the operation's primary targets. But Andrea Peterson at the Washington Post writes that "it’s starting to look like the snooping is hitting U.S.-based cloud providers where it really hurts: Their pocketbooks."
Computer World UK reports a recent Cloud Security Alliance (CSA) survey found 10 percent of 207 officials at non-U.S. companies canceled contracts with U.S. providers after the leaks, and 56 percent of non-U.S. respondents are now hesitant to work with U.S.-based cloud operators. This is bad news for U.S. tech companies because cloud computing and storage is a huge, expanding market. Research firm Gartner forecasts the public cloud services market will grow 18.5 percent in 2013 to a total of $131 billion worldwide.