According to IDC, global spending on public cloud infrastructure and services will double from $229 billion (€204 billion) this year to $500 billion in 2023. The growth is mainly driven by the continuous adoption of services by enterprises in professional services, telecommunications and retail.

In professional services, telecommunications and retail, traditional application software is increasingly being sidelined in exchange for a Software-as-a-Service (SaaS) model, writes Silicon Angle. In addition, a cloud provider hosts the applications and makes them available to customers via the Internet.

According to IDC, SaaS remains the largest category in cloud computing. SaaS will account for more than half of all public cloud spending in 2023. The bulk of that money goes to applications and system infrastructure software. The most popular services are customer relationship management software and enterprise resource management software.

IaaS and Easter

After SaaS, Infrastructure-as-a-Service (IaaS) is the most popular category in cloud computing, followed by Platform-as-a-Service (PaaS). In the case of IaaS, a cloud provider rents out the infrastructure components that are usually found on premise in a data center. At PaaS, the cloud provider provides both hardware and software over the Internet, often for application development.

IDC states that IaaS is the fastest growing segment in cloud computing between 2019 and 2023. Annually we see a growth of 32 percent. However, PaaS spending is growing at almost the same rate, growing 29.9 percent per year. This growth is driven by increased spending on data management software and application platforms.

According to IDC, the largest customers for these services are in the professional services, discrete manufacturing and banking industries. These industries account for over a third of global cloud spending over the next four years.

US

The largest publishers remain U.S. companies, says IDC. They account for more than half of the money spent on cloud services in 2023. China and Latin America have seen the most growth in spending, with growth of 49.1 percent and 38.3 percent respectively.

This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.