WW spending on public cloud services and infrastructure will more than double over the 2019-2023 forecast period, according to IDC
"With a five-year CAGR of 22.3%, public cloud spending will grow from $229 billion in 2019 to nearly $500 billion in 2023.
'Adoption of public (shared) cloud services continues to grow rapidly as enterprises, especially in professional services, telecommunications, and retail, continue to shift from traditional application software to software as a service (SaaS) and from traditional infrastructure to infrastructure as a service (IaaS) to empower customer experience and operational-led digital transformation (DX) initiatives,' said Eileen Smith, program director, customer insights and analysis, IDC..."
Global spending on public cloud infrastructure and services will almost double from $229 billion this year to around $500 billion by 2023, according to analyst firm International Data Corp.'s latest report
"IDC, in its Worldwide Semiannual Public Cloud Services Spending Guide published this week, said the main force driving this growth would be continued adoption of services by enterprises in the professional services, telecommunications and retail industries. Those sectors are increasingly ditching traditional application software in favor of the 'software-as-a-service' model, in which the cloud provider hosts applications and makes them available to customers over the internet..."