Public Cloud Services Revenue Reached $233.4B
The COVID-19 pandemic has accelerated the Digital Transformation trends. Savvy CIOs and CTOs that were an early adopter of public cloud computing technologies now have a significant strategic market lead over their competitors. Moreover, a few dominant IT platform providers continue to benefit from this trend.
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.
Hybrid Multi-cloud: Why IT Coexistence Strategy Prevails
For the full year, investments in cloud IT infrastructure will surpass spending on non-cloud infrastructure and reach $69.5 billion or 54.2 percent of the overall IT infrastructure spend. “The most effective ‘well-architected framework’ is open, to enable customer choice.”
Capital Markets Shift IT Spend to Public Cloud Services
Everest Group predicts that the spend on IT services in the capital markets industry will decline 2.1% in 2020 due to COVID-19, with outsourcing spend seeing a dip of -3.7% as firms reallocate resources and cost transformation initiatives are prioritized.
via Everest Group
Trends Driving Sovereign Public Cloud Computing Adoption
“Growing nationalistic sentiments sweeping various nations such as the U.S., Europe, and India, will add fuel to the sovereign cloud discussion. The Huawei ban in the U.S., the ban on Chinese apps in India, and reducing dependencies on China across sectors are indicators of emerging nationalistic sentiments.”
via Everest Group
Hyperscale Public Cloud Global Data Center Growth
The total number of large data centers operated by hyperscale providers increased to 541 at the end of Q2 2020. Over 70% of all hyperscale data centers are located in facilities leased from data center operators or are owned by partners of the hyperscale operators.
How Edge Computing Fuels Additional Cloud App Growth
The future of cloud computing growth is at the edge. IDC predicts that by 2023, over 50 percent of new enterprise IT infrastructure deployed will be at the edge rather than within centralized corporate datacenters — that’s up from less than 10 percent today.
Top Workloads on Public Cloud Services by Spend
The primary drivers for top workloads on public cloud infrastructure include ‘Lift & Shift’ migration patterns, the beginning of the adoption of AI/ ML capabilities, and the growth of cloud-native applications and dev/ test use cases on public cloud.
via IDC Blog
Cloud IT Infrastructure Revenue will Reach $100.1 Billion
As investments in cloud IT infrastructure continue to increase, with some swings up and down in the quarterly intervals, the IT infrastructure industry is approaching the point where spending on cloud IT infrastructure consistently surpasses spending on non-cloud IT infrastructure.
More Upside for Private Cloud Infrastructure Spending
Spending on private cloud IT infrastructure has shown more stable growth since IDC started tracking sales of IT infrastructure products in various deployment environments. In 3Q19, vendor revenues from private cloud environments increased 3.2 percent year-over-year, reaching nearly $5 billion.
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