Gartner The global market for hybrid cloud categorized by solution, service type, service model, organization size, vertical & region. All rights reserved. Gartner analysts will provide additional analysis on cloud strategies and infrastructure and operations trends at the Gartner IT Infrastructure, Operations & Cloud Strategies events taking place November 25-26 in London and December 9-12 in Las Vegas. Reset Your Business Strategy Amid COVID-19, global CIOs will increase their investment, “Forecast: Public Cloud Services, Worldwide, 2017-2023, 3Q19 Update.”. We are a trusted advisor and an objective resource for more than 14,000 enterprises in more than 100 countries — across all major functions, in every industry and enterprise size. Nag. This means that license-based software consumption will further plummet, while SaaS and subscription-based cloud consumption models continue their rise. The worldwide public cloud services market is projected to grow 17.3 percent in 2019 to total $206.2 billion, up from $175.8 billion in 2018, according to Gartner, Inc. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. Gartner is the world’s leading research and advisory company. “This complementary approach will drive both transformation and optimization of an organization’s infrastructure and operations.”. As organizations increase their reliance on cloud technologies, IT teams are rushing to embrace cloud-built applications and relocate existing digital assets. Katie Costello Currently almost 19 percent of cloud budgets are spent on cloud-related services, such as cloud consulting, implementation, migration and managed services, and Gartner expects that this rate will increase to 28 percent by 2022. Other cloud services, notably Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), will grow faster, as these initially immature technologies have reached the Plateau of Productivity. Cloud Puting Market Ed To Reach 411b By 2020. Worldwide IT spending is projected to total $3.8 trillion in 2021, an increase of 4% from 2020, according to the latest forecast by Gartner, Inc. We use cookies to deliver the best possible experience on our website. Gartner “The cloud managed service landscape is becoming increasingly sophisticated and competitive. Gartner estimates the cloud-based security services market will reach close to $9 billion by 2020 (see Table 1). Here are the top trends in SaaS to look out for in 2020: SaaS Will Grow 10.5% in 2020. “At Gartner, we know of no vendor or service provider today whose business model offerings and revenue growth are not influenced by the increasing adoption of cloud-first strategies in organizations. katie.costello@gartner.com, Meghan Rimol Through 2022, Gartner projects the market size and growth of the cloud services industry at nearly three time the growth of overall IT services.”, Table 1. The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion, up from $182.4 billion in 2018, according to Gartner, Inc. To learn more, visit our Privacy Policy. ©2020 Gartner, Inc. and/or its affiliates. According to recent Gartner surveys, more than a third of organizations see cloud investments as a top three investing priority, which is impacting market offerings. BPaaS = business process as a service; IaaS = infrastructure as a service; PaaS = platform as a service; SaaS = software as a service Public cloud services market in Australia is poised to grow 87 per cent over the next three years reaching $10.3 billion by 2022. The global cloud computing market is expected to reach $623.3 billion by 2023. Idc global ict spending forecast cloud market share a look at the the top 10 cybersecurity panies to 331 billion public cloud. Oracle was one of the first providers of cloud ERP solution where the company first launched its cloud ERP solution in June 2012. Nag. IaaS is forecast to grow 24% year over year, which is the highest growth rate across all market segments. (Source: Report Linker) According to cloud computing growth stats, the industry will grow at a CAGR of 18%. Growth this year could see the Google overtake Alibaba, with Google CEO Sundar Pichai reporting cloud service revenue (... 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