With enterprises continuing to adopt cloud computing, analysts see continued growth in both public and private cloud investment—with worldwide spending on public IT cloud services set to exceed $40 billion in 2012 and reach nearly $100 billion by 2016, according to IDC.
The research firm forecasts that from 2012 to 2016, public IT cloud services will see gains at a compound annual growth rate (CAGR) of 26.4 percent—five times that of the IT industry overall, as companies accelerate their shift to the cloud services model for IT consumption.
“The IT industry is in the midst of an important transformative period as companies invest in the technologies that will drive growth and innovation over the next two to three decades,” Frank Gens, senior vice president and chief analyst at IDC, said in a statement. “By the end of the decade, IDC expects at least 80 percent of the industry’s growth, and enterprises’ highest-value leverage of IT, will be driven by cloud services and the other third-platform technologies.”
By 2016, public IT cloud services will account for 16 percent of IT revenue in five key technology categories: applications, system infrastructure software, platform as a service (PaaS), servers and basic storage, IDC said. More significantly, cloud services will generate 41 percent of all growth in these categories by 2016.
Software as a service (SaaS) will
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