Global Hyperscale Cloud Providers Dominate IaaS Growth
Leading public cloud service providers continue to gain market share across the globe. The cloud Infrastructure as a Service (IaaS) market grew 37.3 percent in 2019 to reach $44.5 billion — that’s up from $32.4 billion in 2018, according to the latest worldwide market study by Gartner.
Cloud Computing: On the Path to Market Saturation
“In 2020, we’ll see the public cloud market, including cloud applications (SaaS), development and data platforms (PaaS), and infrastructure (IaaS) services combined, grow to $299.4 billion. Even with slower growth on the horizon, this is a tremendous success for a consolidating, maturing market on its way to half a trillion dollars in just a few years.”
Cloud IaaS Revenue will Reach $150.7 Billion in 2023
Enterprises are using cloud services for strategic benefits such as supporting digital transformation efforts rather than for tactical ones, like reducing IT infrastructure costs and the hardware or software maintenance burden.
Why Legacy IT Vendors Seek Cloud Niche Viability
The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion — that’s up from $182.4 billion in 2018, according to the latest global market study by Gartner.
Global Public Cloud Computing Revenue Trends
In the IaaS market, the competitive landscape is consolidating around the current leaders. The top four providers are all hyperscale IaaS providers and represent approximately 73 percent of the total IaaS market and 47 percent of the combined IaaS and infrastructure utility services (IUS) market.
Public Cloud Revenue will Reach $186.4 Billion in 2018
Around the globe, CIOs and CTOs continue to transition to a hybrid multi-cloud service delivery model, supported by on- and off-premises IT infrastructure. Meanwhile, the worldwide public cloud services market is projected to grow 21.4 percent in 2018 to reach $186.4 billion — that’s up from $153.5 billion in 2017.
How Digital Transformation is Advancing Hybrid Multi-Cloud
The industries that are forecast to spend the most on public cloud services in 2018 are discrete manufacturing ($19.7 billion), professional services ($18.1 billion), and banking ($16.7 billion). The process manufacturing and retail industries are also expected to spend more than $10 billion each on public cloud services in 2018.
Upside for Cloud ‘Infrastructure as a Service’ Offerings
“Today over 70% of CIOs have a cloud-first stance. Over the past decade, we’ve seen growing acceptance among enterprise companies in running production and analytics workloads in public cloud infrastructure as a service (IaaS). This interest has fueled a whopping compound growth of 34.6% in IaaS spending between 2013 and 2016.”
Global Public Cloud Spending will Reach $203.4 Billion
Over the 2015 – 2020 forecast period, overall public cloud spending will experience a 21.5 percent compound annual growth rate (CAGR) — that’s nearly seven times the rate of overall IT spending growth.
Source: Digital Lifescapes
Hybrid Cloud Deployments to Gain Momentum in 2017
Based on the findings from the ‘2016 Future of Cloud Computing’ survey, while ~50 percent of all companies either have a cloud-first or cloud-only strategy, some form of a cloud computing deployment agenda is now being reported among the vast majority of survey respondents.
Source: Digital Lifescapes
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