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Following months of speculation, Google's Drive finally made its big debut earlier today. So how does the service stack up against the competition? As it turns out, pretty well. For starters Google Drive offers the largest amount of storage for free with 5GB of space dedicated to Drive and another and another 10GB of space going to Gmail.

SkyDrive, meanwhile, offers 7GB of storage, as well as 5GB of storage through Windows Live Mesh. Apple's iCloud offers up 5GB of storage, while Dropbox provides 2GB.

Google Drive also crushes the competition when it comes to total amount of storage space available for purchase with a staggering 16TB of space. The closest the competition comes is 100GB, which is offered by both Dropbox and SkyDrive. Apple's iCloud only offers 50GB. With that said, Google is the only service that is geared specifically to both everyday consumers and enterprises.

Each service makes your data available offline, and is capable of automatically syncing files across multiple devices. Google's Drive does, however, allow users to upload a larger maximum file size than its competition, 10GB versus a standard 2GB, and gives you the ability to share and edit documents with other users simultaneously. And while SkyDrive does offer simultaneous editing, users can't track each others' edits in real time like you can with Google Drive.

So far it looks like Google Drive is the new cloud service to beat. Check out our chart below for a more in-depth look at how Drive stacks up with the competition.