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This year could see the Google overtake Alibaba, with Google CEO Sundar Pichai reporting cloud service revenues on track for $8 billion. Okta, Inc. the lead Read more The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion, up from $182.4 billion in 2018, according to Gartner, Inc. Cloud infrastructure spending surpassed $80 billion in 2018. All rights reserved. Other cloud services, notably Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), will grow faster, as these initially immature technologies have reached the Plateau of Productivity. Public cloud services market in Australia is poised to grow 87 per cent over the next three years reaching $10.3 billion by 2022. End-user spending on public cloud services in India is forecast to total $4.1 billion in 2021, an increase of 29.4% from 2020, according to Gartner . Of the 12 companies evaluated, Oracle was recognized highest for ability to execute and completeness of vision for Oracle Fusion Cloud Enterprise Performance Management (EPM). Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. Currently almost 19 percent of cloud budgets are spent on cloud-related services, such as cloud consulting, implementation, migration and managed services, and Gartner expects that this rate will increase to 28 percent by 2022. Worldwide Public Cloud Service Revenue Forecast (Billions of U.S. Cloud Security Market Size Gartner. Gartner analysts discussed cloud security trends during the Gartner Security & Risk Management Summit taking place here through Thursday. Nag. “At Gartner, we know of no vendor or service provider today whose business model offerings and revenue growth are not influenced by the increasing adoption of cloud-first strategies in organizations. In fact, by 2022, up to 60% of organizations will use an external service provider’s cloud managed service offering, which is double the percentage of organizations from 2018,” said Mr. The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion, up from $182.4 billion in 2018, according to Gartner, Inc. In this report, they stated that “In 2019, the global cloud market size was $62,730 million US dollars and it is expected to reach $383,789 US dollars by the end of 2026, with a CAGR of 29.2% during 2021-2026.” Nag. The global cloud computing market is expected to reach $623.3 billion by 2023. SIEM, IAM and emerging technologies are the fastest growing cloud-based security services segments. The worldwide public cloud services market is forecast to grow 17% in 2020 to total $266.4 billion, up from $227.8 billion in 2019, according to Gartner, Inc. “At this point, cloud adoption is mainstream,” said Sid Nag, research vice president at Gartner. Software as a service (SaaS) will remain the largest market segment, which is forecast to grow to $116 billion next year due to the scalability of subscription-based software (see Table 1). The low cost of entry provided by public cloud services will be a big influence on Indian CIOs to increase their spending on this technology in the price sensitive market. Katie Costello To learn more, visit our Privacy Policy. Oracle has been named a Leader in Gartner’s 2020 “Magic Quadrant for Cloud Financial Planning and Analysis Solutions [1] ” for the fourth consecutive year. The global cloud POS market size is expected to grow at a CAGR of 22.7% during the forecast period, to reach USD 3.73 billion by 2023 from USD 1.34 billion in 2018. “The expectations of the outcomes associated with cloud investments therefore are also higher. Our unmatched combination of expert-led, practitioner-sourced and data-driven research steers clients toward the right decisions on the issues that matter most. According to recent Gartner surveys, more than a third of organizations see cloud investments as a top three investing priority, which is impacting market offerings. Dollars), Cloud Application Infrastructure Services (PaaS), Cloud System Infrastructure Services (IaaS). Since then, the company has launched many updates wit… IoT-edge partnership is expected to revolutionize data computing and account for various corporate gains for those looking to leverage and harness the power of data analytics in developing solutions for major industry verticals “The cloud managed service landscape is becoming increasingly sophisticated and competitive. “Organizations need cloud-related services to get onboarded onto public clouds and to transform their operations as they adopt public cloud services,” said Mr. We use cookies to deliver the best possible experience on our website. ©2020 Gartner, Inc. and/or its affiliates. Gartner released its latest cloud forecast on Wednesday, predicting that the market will grow 17.3 percent in 2019. The global cloud computing market is expected to reach $623.3 billion by 2023. To learn more, visit our Privacy Policy. The fastest-growing market segment will be cloud system infrastructure services, or infrastructure as a service (IaaS), which is forecast to grow 27.5 percent in 2019 to reach $38.9 billion, up from $30.5 billion in 2018 (see Table 1). Cloud Puting Market Ed To Reach 411b By 2020. COVID-19 impact on Hybrid Cloud Industry. We are a trusted advisor and an objective resource for more than 14,000 enterprises in more than 100 countries — across all major functions, in every industry and enterprise size. Whoa! Cloud infrastructure spending surpassed $80 billion in 2018. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. HANOI, Vietnam--(BUSINESS WIRE)--Dec 14, 2020--Vietnam’s leading ICT firm, FPT Software, has recently been listed in Gartner’s 2020 Market Guide for Public Cloud … [154 Pages Report] Hybrid cloud market size, analysis, trends, & forecasts. The Worldwide Public Cloud Services Market is projected to grow by 17.3% in 2019 to total $206.2B, up from $175.8B in 2018 according to Gartner. As the second decade of the 2000s came to a close, the Market Study Report LLC released the Global Cloud Computing Market Report. Gartner forecasts major growth in global public cloud By Sead Fadilpašić 23 July 2020 Public cloud services market is expected to grow further, fueled by demand for DaaS and SaaS solutions. 5. Gartner estimates the cloud-based security services market will reach close to $9 billion by 2020 (see Table 1). 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