Oct 18, 2017,06:12pm
EDT
Gartner’s latest worldwide public
cloud services revenue forecast published earlier
this month predicts Infrastructure-as-a-Service (IaaS), currently growing at a
23.31% Compound Annual Growth Rate (CAGR), will outpace the overall market
growth of 13.38% through 2020. Software-as-a-Service (SaaS) revenue is
predicted to grow from $58.6B in 2017 to $99.7B in 2020. Taking into account
the entire forecast period of 2016 – 2020, SaaS is on pace to attain 15.65%
compound annual growth throughout the forecast period, also outpacing the total
cloud market. The following graphic compares revenue growth by cloud services
category for the years 2016 through 2020. Please click on the graphic to expand
it for easier reading.
Catalysts driving greater adoption and correspondingly higher CAGRs include a
shift Gartner sees in infrastructure, middleware, application and business
process services spending. In 2016, Gartner estimates approximately 17% of the
total market revenue for these areas had shifted to the cloud. Gartner predicts
by 2021, 28% of all IT spending will be for cloud-based infrastructure,
middleware, application and business process services. Another factor is the
adoption of Platform-as-a-Service (PaaS). Gartner notes that enterprises are
confident that PaaS can be a secure, scalable application development platform
in the future. The following graphic compares the compound annual growth
rates (CAGRs) of each cloud service area including the total market. Please click on
the graphic to expand it for easier reading.
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