Last updated on December 8th, 2022 at 02:29 pm
This forecast is given by IDC analysts
It has been largely proven that the COVID-19 pandemic has accelerated and will continue to accelerate cloud adoption. Global spending on cloud services, hardware and software components underlying cloud services, and capabilities of professional and managed services related to cloud services will exceed $ 1 trillion in 2024, according to a new cloud forecast from analyst firm IDC. … This forecast is based on the assumption that the CAGR will remain at 15.7% in the coming years.
The continued adoption of cloud technologies will lead to the fact that this market will reach $ 1 trillion in 2024
The largest growth in cloud computing revenues will be seen in the service category – public and private cloud services. The five-year CAGR in this category, which is also the largest in terms of total revenue, is expected to be 21.0%. By 2024, as-a-service solutions will account for over 60% of all cloud revenues worldwide. The service category, which includes cloud-related professional services and cloud-related management services, will be the second-largest category in terms of revenue but will grow the slowest at 8.3% per year. This is due to many factors, including the increased use of automation in cloud migrations. The smallest category is infrastructure, which includes hardware and software,
