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Cloud computing has emerged to address the needs of businesses and to improve the quantity and quality of data that we can collect and analyse from multiple sources and devices. Cloud computing has also revolutionised the software paradigm by changing into a service-oriented paradigm where cloud resources and software are offered as a service. This service archetype has changed the way we have been thinking when producing a cloud service. This chapter provides an outline of the underpinning definition, principles and concepts which currently lack in the literature. This chapter will also outline the foundations of cloud computing and then endeavours to draft the emerging trends and evolution of cloud applications. The emerging trends will include new services, federations of cloud paradigm, smart cities, big data, IoT and mobile cloud.