Report: Worldwide Public Cloud Service Spending To Increase
The IDC’s spending forecast reports public cloud services to reach $122.5 billion in 2017.
A new update to the International Data Corporation (IDC) Worldwide Semiannual Public Cloud Services Spending Guide shows that worldwide spending on public cloud services and infrastructure will reach $122.5 billion in 2017, an increase of 24.4% over 2016. Over the 2015-2020 forecast period, overall public cloud spending will experience a 21.5% compound annual growth rate (CAGR) – nearly seven times the rate of overall IT spending growth. By 2020, IDC forecasts public cloud spending will reach $203.4 billion worldwide.