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Gartner estimates the cloud-based security services market will reach close to $9 billion by 2020 (see Table 1). 5. The global cloud computing market is expected to reach $623.3 billion by 2023. “The cloud managed service landscape is becoming increasingly sophisticated and competitive. We use cookies to deliver the best possible experience on our website. Okta, Inc. the lead Follow news and updates from these events on Twitter using #GartnerIO. AWS was the first cloud computing and offering infrastructure as a service in 2008 and has never looked back as it launches new services at a breakneck pace and is creating its own compute stack that aims to be more efficient and pass those savings along. As the second decade of the 2000s came to a close, the Market Study Report LLC released the Global Cloud Computing Market Report. To learn more about how we help decision makers fuel the future of business, visit gartner.com. The SaaS market is reaching a higher revenue size than … Dollars), Cloud Application Infrastructure Services (PaaS), Cloud System Infrastructure Services (IaaS). BPaaS = business process as a service; IaaS = infrastructure as a service; PaaS = platform as a service; SaaS = software as a service The fastest-growing market segment will be cloud system infrastructure services, or infrastructure as a service (IaaS), which is forecast to grow 27.5 percent in 2019 to reach $38.9 billion, up from $30.5 billion in 2018 (see Table 1). Its projected 33% growth this year is a function of its small initial market size and organizations’ preference for cloud-based cybersecurity solutions. katie.costello@gartner.com, Meghan Rimol As numerous migration services are offered by the CSPs, many SMEs and large enterprises are adopting these services to migrate their on-premises workload to cloud. To learn more, visit our Privacy Policy. This year could see the Google overtake Alibaba, with Google CEO Sundar Pichai reporting cloud service revenues on track for $8 billion. Demand for strategic cloud service outcomes signals an organizational shift toward digital business outcomes.”, Gartner clients can read more in the report “Forecast: Public Cloud Services, Worldwide, 2017-2023, 3Q19 Update.”, Gartner IT Infrastructure, Operations & Cloud Strategies Conference. Software spending was $456 billion in 2019, and Gartner predicts 10.5% growth in 2020 — making it the fastest growing major IT market. In 2016, Gartner estimates approximately 17% of the total market revenue for these areas had shifted to the cloud. Irrespective of the cost-saving benefits and efficiencies, enterprises limit themselves to the chosen vendors for specific protocols and tools. The global edge computing market size was valued at USD 3.5 billion in 2019, registering a CAGR exceeding 37% from 2020 to 2027. Note: Totals may not add up due to rounding. Gartner released its latest cloud forecast on Wednesday, predicting that the market will grow 17.3 percent in 2019. BESTSELLER Cloud Migration Market - Growth, Trends, Forecasts (2020 - 2025) The Cloud Migration Market is segmented by Type of Deployment (Public, Private, and Hybrid), Enterprise Size (SMEs and Large Enterprises), Type of Service (PaaS, IaaS, and SaaS), End-user Vertical (BFSI, Healthcare, Retail, Government, IT and Telecommunication, Manufacturing and Other End-User Vertical), and Geography. 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. (Source: Report Linker) According to cloud computing growth stats, the industry will grow at a CAGR of 18%. Gartner, Inc. (NYSE: IT) is the world’s leading research and advisory company and a member of the S&P 500. Cloud infrastructure spending surpassed $80 billion in 2018. “As cloud continues to become mainstream within most organizations, technology product managers for cloud related service offerings will need to focus on delivering solutions that combine experience and execution with hyperscale providers’ offerings,” said Mr. To learn more, visit our Privacy Policy. 6. AWS has 32% of the market and generated more revenue than the next three largest combined, Azure is at 19% of the market, Google Cloud at 7%, Alibaba Cloud close behind at 6%, and other clouds with 37%. This growth is attributed to the demands of modern applications and workloads, which require infrastructure that traditional data centers cannot meet. 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. IoT-edge partnership is expected to revolutionize data computing and account for various corporate gains for those looking to leverage and harness the power of data analytics in developing solutions for major industry verticals Gartner predicts the worldwide public cloud services market will grow 18% in 2017 to $246.8B, up from $209.2B in 2016. The second-highest growth rate of 21.8 percent will be achieved by cloud application infrastructure services, or platform as a service (PaaS). In fact, by 2022, up to 60% of organizations will use an external service provider’s cloud managed service offering, which is double the percentage of organizations from 2018,” said Mr. What we see now is only the beginning, though. Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. The SaaS market is reaching a higher revenue size than … “Cloud services are definitely shaking up the industry,” said Sid Nag, research vice president at Gartner. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. Reset Your Business Strategy Amid COVID-19, cloud application infrastructure services. “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. 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.”. Cloud infrastructure spending surpassed $80 billion in 2018. 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. By continuing to use this site, or closing this box, you consent to our use of cookies. [154 Pages Report] Hybrid cloud market size, analysis, trends, & forecasts. Public cloud services market in Australia is poised to grow 87 per cent over the next three years reaching $10.3 billion by 2022. Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. IaaS is forecast to grow 24% year over year, which is the highest growth rate across all market segments. Katie Costello In … 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. Amazon Web Services (AWS) still dominates the public cloud IaaS market, but rivals like Microsoft Azure, Alibaba, Google Cloud Platform and Rackspace at least have a slice of the market, according to a Gartner research statement in September 2017 covering the 2016 and 2015 IaaS markets.. Since then, the company has launched many updates wit… The Worldwide Public Cloud Services Market is projected to grow by 17.3% in 2019 to total $206.2B, up from $175.8B in 2018 according to Gartner. ©2020 Gartner, Inc. and/or its affiliates. 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. In 2020, the public cloud services market is expected to reach around 257.5 billion U.S. dollars in size and by 2022 market revenue is forecast to exceed 362.3 billion U.S. dollars. 6. The cloud computing race in 2019 will have a definite multi-cloud spin. 5. Last year – in 2018, the market size was valued at $272 billion. Within the worldwide public cloud services market, Desktop-as-a-Service (DaaS) is expected to have the most significant growth in 2020, increasing 95.4% to $1.2 billion. To learn more about how we help decision makers fuel the future of business, visit gartner.com. By continuing to use this site, or closing this box, you consent to our use of cookies. On February 13, 2020 By Balmoon. Gartner clients can read more in the report Forecast: Public Cloud Services, Worldwide, 2016-2022, 4Q18 Update. The Cloud AI Market was valued at USD 5.2 billion in 2019 and is expected to reach USD 13.1 billion by 2025, registering a CAGR of 20.3%, during the period of 2020-2025. Global Hybrid Cloud Market Report 2020: Industry Trends, Share, Size, Growth, Opportunity and Forecast, 2014-2019 & 2020-2025 - ResearchAndMarkets.com October 15, … Gartner As organizations increase their reliance on cloud technologies, IT teams are rushing to embrace cloud-built applications and relocate existing digital assets. Gartner, Inc. (NYSE: IT) is the world’s leading research and advisory company and a member of the S&P 500. IT spending in 2020 is expected to total $3.6 trillion, down 5.4% from 2019. 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. Nag. It is expected to reach $50 billion by the end of 2020, up from $31 billion in 2018. Nag. “The onset of the Covid-19 pandemic was the starting point of the Cloud 2.0 era,” said Sid Nag, research vice president at Gartner. “This complementary approach will drive both transformation and optimization of an organization’s infrastructure and operations.”. “Building, implementing and maturing cloud strategies will continue to be a top priority for years to come,” said Mr. 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. Forecast: Public Cloud Services, Worldwide, 2016-2022, 4Q18 Update. The second-largest market segment is cloud system infrastructure services, or infrastructure as a service (IaaS), which will reach $50 billion in 2020. Read more ©2020 Gartner, Inc. and/or its affiliates. Global major vendors offering cloud ERP solution and services include Oracle (US), SAP (Germany), Microsoft (US), Infor (US), Unit4 (Netherlands), Workday (US), Sage Software (UK), Epicor (US), QAD Inc (US), Plex Systems (US), Acumatica (US), Deltek (US), Rootstock Software (US), IQMS (US), and Ramco Systems (India). As of October 2020, Canalys reports that the worldwide cloud market grew 33% this quarter to $36.5 billion. More than $1.3T in IT … Okta, Inc. the lead COVID-19 impact on Hybrid Cloud Industry. According to Gartner’s forecast, infrastructure-as-a-service (IaaS) solutions, like cloud storage, will be the fastest-growing segment of the market with 24% predicted growth. 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