Public Cloud Market Continues to Soar With 2017 ‘Pivotal’ Year, Says IDC
2017 was a ‘pivotal’ year in expanding public cloud service adoption according to IDC – with spending growth remaining at a constant level despite the overall market tripling in size.
The figures, which come from the analyst firm’s latest Worldwide Semiannual Public Cloud Services Tracker, show that while the overall growth rate for 2017 was a little smaller than the previous year, revenue growth of the top 16 providers by market share went up. The top tier vendors now capture more than half (50.7%) of the overall market.
Software as a service (SaaS) remains the largest bucket by some distance at $74.8 billion (£56.5bn) globally, with IDC predicting the SaaS market will hit $163bn by 2022 – well ahead of overall 2017 figures of $116.7bn. Infrastructure as a service (IaaS) spending last year was at $24.9bn, while platform as a service (PaaS) was at $17bn.
PaaS remained the fastest growing of the three markets, showing a 47.1% year on year increase, compared with IaaS (39.9%) and SaaS (22.4%). Both PaaS and IaaS however saw slightly slower growth when compared to the previous year’s figures, of 48% and 45% respectively.
Read more: Cloud Computing News