Fast Facts: Companies Won't Stop Consuming Cloud

In the fast-paced IT industry, new statistics and data are released daily. Each week, Enterprise Mobility Exchange publishes Fast Facts, taking a look at interesting or noteworthy information impacting businesses.

The cloud has a multitude of facets and can be segmented into a variety of different subsets. And while enterprises moving to the cloud continues to be a work in progress, many have begun to explore the multi-cloud and even cloud-only architecture to store, create, and deploy within the infrastructure.

See related: Cloud Strategy Streamlined: Optmizing Enterprise Options

In two separate Enterprise Mobility Exchange surveys in 2017 where c-level IT executives and directors were targeted as respondents, the majority said cloud was the top priority in 2017 and moving into 2018, proving cloud is still king, despite the needs for mobile transformation and the introduction of new technologies like artificial intelligence and augmented reality.

According to a recent forecast from research firm Gartner, the combined cloud market – which includes Cloud Application Infrastructure Services (PaaS), Cloud Application Services (SaaS), and Cloud System Infrastructure Services (IaaS) – cloud as a whole will see a nearly 35% increase in total market value from 2018 to 2020, jumping from $305.8 billion to $411.4 billion.

“In terms of vendor share, Gartner expects 70 percent of public cloud services revenue to be dominated by the top 10 public cloud providers through 2021,” the report said.

See related: The Future Of Cloud Diversification

Becoming a cloud-only enterprise is no longer conceptual, but factual, as more and more businesses are created in the cloud environment entirely.

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