According to the latest worldwide market study by IDC, vendor revenue from sales of IT infrastructure products for cloud computing environments — including public and private cloud — grew 28 percent year-over-year in the fourth quarter of 2018 (4Q18), reaching $16.8 billion.
Digital business enablers, such as big data, machine learning, artificial intelligence, software analytics and cloud solutions, as well as the growing demand for sensors to capture and process data, have been significant drivers for the adoption of Digital Twin applications.
“The cloud ride is accelerating, faster than we predicted only three short years ago. Cloud vendor innovation pace is off the charts, and revenue is soaring.” Expect the cloud market to top $230 billion, up from just over $100 billion in 2016.
Canalys reports that hyperscale cloud infrastructure services are in a period of sustained growth, with spending up 46 percent in 2018 to more than $80 billion. Expenditure is also forecast to surpass $143 billion in 2020.