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Cloud Computing Growing Faster Than Expected, Reached $260 Billion in 2017

The global public cloud services market revenue is expetec to grow by 18.5 percent in 2017 reaching $260.2 billion, up from $219.6 billion in 2016, according to the latest report from Gartner, Inc. From the report: “Final data for 2016 shows that software as a service (SaaS) revenue was far greater in 2016 than expected, reaching $48.2 billion. SaaS is also growing faster in 2017 than previously forecast, leading to a significant uplift in the entire public cloud revenue forecast. ... SaaS revenue is expected to grow 21 percent in 2017 to reach $58.6 billion… The acceleration in SaaS adoption can be explained by providers delivering nearly all application functional extensions and add-ons as a service. ... The highest revenue growth will come from cloud system infrastructure services (infrastructure as a service, IaaS), which is projected to grow 36.6 percent in 2017 to reach $34.7 billion.”

Worldwide Public Cloud Services Revenue Forecast:
(Billions of U.S. Dollars / Source: Gartner – October 2017)

20162017201820192020
Cloud Business Process Services (BPaaS)39.642.245.849.553.6
Cloud Application Infrastructure Services (PaaS)9.011.414.217.320.8
Cloud Application Services (SaaS)48.258.671.284.899.7
Cloud Management and Security Services7.18.710.312.013.9
Cloud System Infrastructure Services (IaaS)25.434.745.858.472.4
Cloud Advertising90.3104.5118.5133.6151.1
Total Market219.6260.2305.8355.6411.4

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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