Global Public Cloud revenue to grow 21.4% in 2018

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New Delhi, April 12 (IANS) The global Public Cloud services market is projected to grow 21.4 per cent in 2018 to total $186.4 billion — an increase from $153.5 billion in 2017, market research firm Gartner said on Thursday.

The fastest-growing segment of the market is Cloud system infrastructure services or Infrastructure-as-a-Service (IaaS) which is forecast to grow 35.9 per cent in 2018 to reach $40.8 billion.

“The increasing dominance of the hyperscale IaaS providers creates both enormous opportunities and challenges for end users and other market participants,” Sid Nag, Research Director at Gartner, said in a statement.

The research firm expects the top 10 providers to account for nearly 70 per cent of the IaaS market by 2021, up from 50 per cent in 2016.

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“In response to multicloud adoption trends, organisations will increasingly demand a simpler way to move workloads, applications and data across cloud providers’ IaaS offerings without penalties,” Nag added.

Software as a service (SaaS) remains the largest segment of the Cloud market, with revenue expected to grow 22.2 per cent to reach $73.6 billion in 2018.

SaaS is expected to reach 45 per cent of total application software spending by 2021.

Within the platform as a service (PaaS) category, the fastest-growing segment is database platform as a service (dbPaaS) is expected to reach almost $10 billion by 2021.

–IANS

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