IaaS, PaaS, SaaS To Lead $390bn Cloud Economy

Grazed from DataEconomy. Author: Joao Marques Lima.

Global cloud IT market revenues are set to more than double by 2020 with both public and private cloud hardware, software and services set to generate $390bn in revenues by the end of this decade. According to Bain & Company’s “The Changing Faces of the Cloud” report, market revenues accounted to ‘only’ $180bn in 2015 and are now set to grow at a compound annual growth rate (CAGR) of 17% until 2020.

Of the $390bn estimated cloud market, public cloud services are set to represent the largest part of the sector, with Software as a Service (SaaS) predicted to grow at a CAGR of 18%. Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) are tipped for a 27% CAGR. Public cloud infrastructure and enabling services are predicted to increase at a 12% CAGR while private cloud services, including managed private clouds (MPC) and dedicated private clouds (DPC), are predicted to grow at a 25% CAGR...

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