Public Cloud market to reach $400 billion in 2025
The combined Public Cloud Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) market is forecast to reach $400 billion in revenues in 2025 with a compound annual growth rate (CAGR) of 28.8 per cent the 2021-2025 forecast period, an IDC report showed on Thursday.
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New Delhi: The combined Public Cloud Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) market is forecast to reach $400 billion in revenues in 2025 with a compound annual growth rate (CAGR) of 28.8 per cent the 2021-2025 forecast period, an IDC report showed on Thursday.
Cloud IaaS and PaaS is a critical, enabling component for the future of digital infrastructure. Public cloud services remain an essential part of enterprise recovery strategy as IT organizations reevaluate budgets, build infrastructure focused on business resilience, and work toward operating efficiently and managing risk in a post-Covid-19 world.
"Enterprise spending on public cloud infrastructure continues to grow faster than traditional IT infrastructure segments," said Andrew Smith, research manager Cloud Infrastructure Services.
"We expect all workload segments to grow in the double digits — some slightly faster than others — as enterprises emerge from 2020 and continue to prioritise workload migration and modernization using public cloud infrastructure," he added.
