What’s Next for the Cloud Computing Market?

Other IDC findings included:

• Software-as-a-service (SaaS) will remain the dominant cloud computing type, capturing more than two thirds of all public cloud spending through 2019.
• Worldwide spending on infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) will grow at a faster rate than SaaS with five-year CAGRs of 27 percent and 30.6 percent, respectively.
• Large and very large companies will be the primary drivers of worldwide public cloud services with spending of more than $80 billion in 2019.
• Small and medium-sized businesses (SMBs) are expected to contribute more than 40 percent of the worldwide public cloud services spending total.

Eileen Smith, IDC’s program director of customer insights and analysis, noted cloud services appear to be approaching the “innovation stage” as well. 

“Cloud services will remain the essential foundation of the IT industry’s 3rd Platform of innovation and growth,” she said in a prepared statement. “There will be an explosion of new solutions and value creation on top of the cloud.”

Smith also pointed out that industry-specific applications could play important roles in the cloud computing market going forward.

“With the huge increase in the number and diversity of services available in the market, organizations across the industries will shift steadily toward cloud-first strategies to enable digital transformation,” she said.

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