Fast Facts: Who’s Leading The $266B Cloud Spending Market?
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Cloud is the number one priority for IT executives in 2017, according to a recent study from Enterprise Mobility Exchange. While that market will continue to grow in the coming years, the majority of its $266 billion worth is coming from a single geographic region.
According to a new report from IDC Research, while spending on cloud services – SaaS, PaaS, and IaaS – will see a bit of a slowdown overall, the CAGR is expected to reach 21% through 2021. The U.S. is expected to take up 60% of the spending in that market, or $163 billion. While that dominates any other region, Asia Pacific (excluding Japan) will account for the largest growth in the same time period, experiencing a 26.7% increase in spending, the report said.
So what’s driving the spending? One industry is taking up more than half the spending, as retail accounts for 51.9%. The second closest industry is discrete manufacturing at just 12%. Additionally, large and very large businesses (500-999 employees, 1,000+ employees, respectively) will account for the majority of spending in this market, IDC reported.
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