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Home > News > Industry News > Cloud infrastructure spending .....

Cloud infrastructure spending to hit $266bn

  • Author:Ella Cai
  • Release on:2017-07-19
Worldwide spending on public cloud services and infrastructure is forecast to reach $266 billion in 2021, says IDC.

PAlthough spending growth will slow over the 2016-2021 forecast period, the market is expected to achieve a five-year CAGR of 21.0%.

Public cloud services spending will reach $128 billion in 2017, an increase of 25.4% over 2016.

America will be the largest market for public cloud services accounting for more than 60% of worldwide revenues throughout the forecast and total spending of $163 billion in 2021.

Western Europe and Asia/Pacific (excluding Japan)(APeJ) will be the second and third largest regions with 2021 spending levels of $52 billion and $25 billion, respectively.

APeJ and Latin America will experience the fastest spending growth over the forecast period with CAGRs of 26.7% and 26.2%, respectively.

However, six of the eight regions are forecast to experience CAGRs greater than 20% over the next five years.

“In Western Europe, the public cloud market is going to more than double in the 2016-2021 timeframe led by strong spending growth in Germany, which is also the largest national market, Italy, and Sweden,” says IDC’s Angela Vace, “the industries that will grow the most in the period under investigation are utilities, discrete manufacturing, insurance, and professional services.”

The U.S. industries that will see the fastest growth in public cloud services spending are professional services (21.5% CAGR), media (21.0% CAGR), retail, and telecom (each with a CAGR of 20.9%). The

U.S. industries that will spend the most on public cloud services are discrete manufacturing, professional services, and banking. Together, these three industries will account for nearly one third of all public cloud services spending in the United States in 2021. In Asia/Pacific (excluding Japan), banking, professional services, and telecom will deliver more than a third of the region’s public cloud services spending in 2021 while the industries with the fastest spending growth will be professional services, personal and consumer services, and process manufacturing.