Technology
Global public Cloud revenue to grow 17% in 2020: Gartner
Stamford, Nov 18
The global public Cloud services market is expected to grow 17 per cent in 2020 to total $266.4 billion, which is up from $227.8 billion in 2019, a new forecast by Gartner Inc. said on Monday.
Software as a service (SaaS) will remain the largest market segment, which is forecast to grow to $116 billion next year due to the scalability of subscription-based software.
The second-largest market segment is Cloud system infrastructure services, or infrastructure as a service (IaaS), which will reach $50 billion in 2020.
"At this point, Cloud adoption is mainstream. The expectations of the outcomes associated with Cloud investments therefore are also higher. Adoption of next-generation solutions are almost always ‘Cloud-enhanced' solutions, meaning they build on the strengths of a Cloud platform to deliver digital business capabilities," Sid Nag, Research Vice President at Gartner, said in a statement.
IaaS is forecast to grow 24 per cent year over year (YoY), which is the highest growth rate across all market segments.
This growth is attributed to the demands of modern applications and workloads, which require infrastructure that traditional data centres cannot meet.
Various forms of Cloud computing are among the top three areas where most global CIOs will increase their investment next year, according to the market research agency.
As organisations increase their reliance on Cloud technologies, IT teams are rushing to embrace Cloud-built applications and relocate existing digital assets.
"Building, implementing and maturing Cloud strategies will continue to be a top priority for years to come," said Nag.
Software as a service (SaaS) will remain the largest market segment, which is forecast to grow to $116 billion next year due to the scalability of subscription-based software.
The second-largest market segment is Cloud system infrastructure services, or infrastructure as a service (IaaS), which will reach $50 billion in 2020.
"At this point, Cloud adoption is mainstream. The expectations of the outcomes associated with Cloud investments therefore are also higher. Adoption of next-generation solutions are almost always ‘Cloud-enhanced' solutions, meaning they build on the strengths of a Cloud platform to deliver digital business capabilities," Sid Nag, Research Vice President at Gartner, said in a statement.
IaaS is forecast to grow 24 per cent year over year (YoY), which is the highest growth rate across all market segments.
This growth is attributed to the demands of modern applications and workloads, which require infrastructure that traditional data centres cannot meet.
Various forms of Cloud computing are among the top three areas where most global CIOs will increase their investment next year, according to the market research agency.
As organisations increase their reliance on Cloud technologies, IT teams are rushing to embrace Cloud-built applications and relocate existing digital assets.
"Building, implementing and maturing Cloud strategies will continue to be a top priority for years to come," said Nag.
4 hours ago
My mother's house smaller than your car! When PM Modi told former US president Obama
4 hours ago
Georgia Election Board Mandates Hand Count for November Ballots, Sparking Concerns Over Delays and Errors
4 hours ago
Biden set to host PM Modi in hometown Wilmington as Quad leaders intensify partnership
4 hours ago
India and US Must Collaborate to Counter China: Congressman Shri Thanedar Ahead of Quad Summit.
5 hours ago
In-Person Voting Kicks Off in Select US States, Six Weeks Before Election Day
5 hours ago
PM Modi Begins US Visit, Confirms Bilateral Talks with Biden and Participation in Key Events
5 hours ago
Harris Campaign Outspends Trump Nearly Threefold in August
5 hours ago
Secret Service Investigation Reveals Lapses in Security Prior to Trump Rally Shooting
6 hours ago
Vijay Varma shares exclusive moments with Kareena Kapoor Khan from ‘Jaane Jaan’ shoot
6 hours ago
Kiran Rao spills the beans on working with Aamir Khan: ‘ I'm always keen to work with him again’
6 hours ago
When Parineeti Chopra encountered ‘uff uff mirchi’ moment in Budapest
6 hours ago
Tina Datta reveals her obsessions: Clouds, sun & mom
6 hours ago
Tamannaah Bhatia sizzles in a playful hair video