Definition - What does Utility Computing mean?
Utility computing is the process of providing computing service through an on-demand, pay-per-use billing method. Utility computing is a computing business model in which the provider owns, operates and manages the computing infrastructure and resources, and the subscribers accesses it as and when required on a rental or metered basis.
Techopedia explains Utility Computing
Utility computing solutions can include virtual servers, virtual storage, virtual software, backup and most IT solutions.
Cloud computing, grid computing and managed IT services are based on the concept of utility computing.
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