Innovative European organisations are increasingly making use of cloud computing and other Web 2.0 solutions in an attempt to combat the recession, it has been revealed.
Research carried out by IT industry analyst Frost and Sullivan found Web 2.0 is likely to supplement both web and audio-web markets that were valued at $190 million (£118.6 million) in Europe in 2008 and are likely grow to $860 million by the end of 2014.
Iwona Petruczynik, a research analyst, remarked: "Web 2.0 solutions may be part of the cure for the recessionary headache that many European businesses are now experiencing - social networking sites, wikis and blogs are just some of the more well-known examples."
She went on to say social networking sites are often used to achieve unexpected ends and cited the example of the Swedish government, which used Second Life to open a virtual embassy and promote the country's culture and heritage.
Last week, studies by Websense suggested the majority of IT managers have not fully protected their company against the managed security threat presented by Web 2.0.