On Cloud spot market: an overview of the research

Zheng Li; Liam O’Brien; Rajiv Ranjan; Shayne Flint; Albert Y. Zomaya

doi:10.1007/978-3-319-19848-4_4

On Cloud spot market: an overview of the research

Zheng Li^*
, Liam O’Brien
, Rajiv Ranjan
, Shayne Flint
, Albert Y. Zomaya

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

2 Citations (Scopus)

28 Downloads (Pure)

Abstract

In Cloud computing, Infrastructure-as-a-Service (IaaS) can be purchased with three pricing schemes, namely reserved pricing, ondemand pricing and spot pricing. Within the spot pricing model, the spot Cloud resources usually refer to the spare compute capacity that can be auctioned in a spot market. A commercial spot market has been established since Amazon launched its spot instance service. Unlike the straightforward fixed-price schemes, the market-driven mechanism behind spot pricing is inevitably sophisticated for both Cloud consumers and providers. In addition, the de facto vendor Amazon does not disclose any backend detail except for its recent spot price history. To help practitioners better understand the spot market and help researchers identify research opportunities, we focused on Amazon’s spot service and investigated the relevant studies of the Cloud spot market. The result of our investigation has been organized and summarized into an overview of the current research, as described in this chapter.

Original language	English
Title of host publication	Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers
Editors	Rudolf Fleischer, Asma Al-Saidi, Zakaria Maamar, Omer F. Rana
Publisher	Springer Verlag
Pages	46-61
Number of pages	16
ISBN (Electronic)	9783319198484
ISBN (Print)	9783319198477
DOIs	https://doi.org/10.1007/978-3-319-19848-4_4
Publication status	Published - 01 Jan 2015
Externally published	Yes
Event	1st International Conference on Intelligent Cloud Computing, ICC 2014 - Muscat, Oman Duration: 24 Feb 2014 → 26 Feb 2014

Publication series

Name	Lecture Notes in Computer Science
Volume	8993
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Name	Information Systems and Applications, incl. Internet/Web, and HCI

Conference

Conference	1st International Conference on Intelligent Cloud Computing, ICC 2014
Country/Territory	Oman
City	Muscat
Period	24/02/2014 → 26/02/2014

Bibliographical note

Funding Information:
NICTA is funded by the Australian Government through the Department of Communications and the Australian Research Council through the ICT Centre of Excellence Program. NICTA is also funded and supported by the Australian Capital Territory, the New South Wales, Queensland and Victorian Governments, the Australian National University, the University of New South Wales, the University of Melbourne, the University of Queensland, the University of Sydney, Griffith University, Queensland University of Technology, Monash University and other university partners.

Publisher Copyright:
© Springer International Publishing Switzerland 2015.

Keywords

Amazon EC2
Cloud computing
Market-driven mechanism
Spot market
Spot pricing

ASJC Scopus subject areas

Theoretical Computer Science
General Computer Science

Access to Document

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On Cloud spot market: an overview of the research
Copyright 2015 Springer. This work is made available online in accordance with the publisher’s policies. Please refer to any applicable terms of use of the publisher
Accepted author manuscript, 298 KBLicence: Unspecified

Cite this

Li, Z., O’Brien, L., Ranjan, R., Flint, S., & Zomaya, A. Y. (2015). On Cloud spot market: an overview of the research. In R. Fleischer, A. Al-Saidi, Z. Maamar, & O. F. Rana (Eds.), Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers (pp. 46-61). (Lecture Notes in Computer Science; Vol. 8993), (Information Systems and Applications, incl. Internet/Web, and HCI). Springer Verlag. https://doi.org/10.1007/978-3-319-19848-4_4

Li, Zheng ; O’Brien, Liam ; Ranjan, Rajiv et al. / On Cloud spot market: an overview of the research. Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers. editor / Rudolf Fleischer ; Asma Al-Saidi ; Zakaria Maamar ; Omer F. Rana. Springer Verlag, 2015. pp. 46-61 (Lecture Notes in Computer Science). (Information Systems and Applications, incl. Internet/Web, and HCI).

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abstract = "In Cloud computing, Infrastructure-as-a-Service (IaaS) can be purchased with three pricing schemes, namely reserved pricing, ondemand pricing and spot pricing. Within the spot pricing model, the spot Cloud resources usually refer to the spare compute capacity that can be auctioned in a spot market. A commercial spot market has been established since Amazon launched its spot instance service. Unlike the straightforward fixed-price schemes, the market-driven mechanism behind spot pricing is inevitably sophisticated for both Cloud consumers and providers. In addition, the de facto vendor Amazon does not disclose any backend detail except for its recent spot price history. To help practitioners better understand the spot market and help researchers identify research opportunities, we focused on Amazon{\textquoteright}s spot service and investigated the relevant studies of the Cloud spot market. The result of our investigation has been organized and summarized into an overview of the current research, as described in this chapter.",

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note = "Funding Information: NICTA is funded by the Australian Government through the Department of Communications and the Australian Research Council through the ICT Centre of Excellence Program. NICTA is also funded and supported by the Australian Capital Territory, the New South Wales, Queensland and Victorian Governments, the Australian National University, the University of New South Wales, the University of Melbourne, the University of Queensland, the University of Sydney, Griffith University, Queensland University of Technology, Monash University and other university partners. Publisher Copyright: {\textcopyright} Springer International Publishing Switzerland 2015.; 1st International Conference on Intelligent Cloud Computing, ICC 2014 ; Conference date: 24-02-2014 Through 26-02-2014",

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Li, Z, O’Brien, L, Ranjan, R, Flint, S & Zomaya, AY 2015, On Cloud spot market: an overview of the research. in R Fleischer, A Al-Saidi, Z Maamar & OF Rana (eds), Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers. Lecture Notes in Computer Science, vol. 8993, Information Systems and Applications, incl. Internet/Web, and HCI, Springer Verlag, pp. 46-61, 1st International Conference on Intelligent Cloud Computing, ICC 2014, Muscat, Oman, 24/02/2014. https://doi.org/10.1007/978-3-319-19848-4_4

On Cloud spot market: an overview of the research. / Li, Zheng; O’Brien, Liam; Ranjan, Rajiv et al.
Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers. ed. / Rudolf Fleischer; Asma Al-Saidi; Zakaria Maamar; Omer F. Rana. Springer Verlag, 2015. p. 46-61 (Lecture Notes in Computer Science; Vol. 8993), (Information Systems and Applications, incl. Internet/Web, and HCI).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

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AU - Li, Zheng

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AU - Ranjan, Rajiv

AU - Flint, Shayne

AU - Zomaya, Albert Y.

N1 - Funding Information: NICTA is funded by the Australian Government through the Department of Communications and the Australian Research Council through the ICT Centre of Excellence Program. NICTA is also funded and supported by the Australian Capital Territory, the New South Wales, Queensland and Victorian Governments, the Australian National University, the University of New South Wales, the University of Melbourne, the University of Queensland, the University of Sydney, Griffith University, Queensland University of Technology, Monash University and other university partners. Publisher Copyright: © Springer International Publishing Switzerland 2015.

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N2 - In Cloud computing, Infrastructure-as-a-Service (IaaS) can be purchased with three pricing schemes, namely reserved pricing, ondemand pricing and spot pricing. Within the spot pricing model, the spot Cloud resources usually refer to the spare compute capacity that can be auctioned in a spot market. A commercial spot market has been established since Amazon launched its spot instance service. Unlike the straightforward fixed-price schemes, the market-driven mechanism behind spot pricing is inevitably sophisticated for both Cloud consumers and providers. In addition, the de facto vendor Amazon does not disclose any backend detail except for its recent spot price history. To help practitioners better understand the spot market and help researchers identify research opportunities, we focused on Amazon’s spot service and investigated the relevant studies of the Cloud spot market. The result of our investigation has been organized and summarized into an overview of the current research, as described in this chapter.

AB - In Cloud computing, Infrastructure-as-a-Service (IaaS) can be purchased with three pricing schemes, namely reserved pricing, ondemand pricing and spot pricing. Within the spot pricing model, the spot Cloud resources usually refer to the spare compute capacity that can be auctioned in a spot market. A commercial spot market has been established since Amazon launched its spot instance service. Unlike the straightforward fixed-price schemes, the market-driven mechanism behind spot pricing is inevitably sophisticated for both Cloud consumers and providers. In addition, the de facto vendor Amazon does not disclose any backend detail except for its recent spot price history. To help practitioners better understand the spot market and help researchers identify research opportunities, we focused on Amazon’s spot service and investigated the relevant studies of the Cloud spot market. The result of our investigation has been organized and summarized into an overview of the current research, as described in this chapter.

KW - Amazon EC2

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M3 - Conference contribution

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SN - 9783319198477

T3 - Lecture Notes in Computer Science

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BT - Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers

A2 - Fleischer, Rudolf

A2 - Al-Saidi, Asma

A2 - Maamar, Zakaria

A2 - Rana, Omer F.

PB - Springer Verlag

T2 - 1st International Conference on Intelligent Cloud Computing, ICC 2014

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Li Z, O’Brien L, Ranjan R, Flint S, Zomaya AY. On Cloud spot market: an overview of the research. In Fleischer R, Al-Saidi A, Maamar Z, Rana OF, editors, Intelligent Cloud Computing: First International Conference, ICC 2014, Revised Selected Papers. Springer Verlag. 2015. p. 46-61. (Lecture Notes in Computer Science). (Information Systems and Applications, incl. Internet/Web, and HCI). doi: 10.1007/978-3-319-19848-4_4

On Cloud spot market: an overview of the research

Abstract

Publication series

Conference

Bibliographical note

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this