Beancounters at the analyst firm Gartner have added up some numbers and divided them by their collective neck size and worked out that the worldwide public cloud revenue market is forecast to grow 17 percent to $206 billion in 2019.
This year is expected to see revenues in the market hit $176 billion – an increase of 21 percent from 2017.
Big G said Software-as-a-service (SaaS) is the dominant segment in the public cloud market, with Gartner predicting revenues will grow 17.8 per cent to reach $85 billion in 2019.
The analyst said SaaS will maintain this market dominance over the next four years and generate global revenues of $113 billion by 2022.
Craig Roth, research vice president at Gartner, said that the increasing adoption of SaaS applications and other cloud services affects the management, dissemination and exploitation of enterprise content.
“Organisations are steadily – but not exclusively – shifting their content environments to SaaS. Gartner expects that by 2019, the current enterprise content management market will devolve into purpose-built, cloud-based content solutions and solution services applications.”
Cloud system infrastructure services (IaaS) is the fastest-growing segment of the market, predicted to reach $39.5 billion next year, representing a 27.6 percent increase from $31 billion in 2018. By 2022, Gartner expects that 90 percent of organisations will buy their public cloud IaaS from an integrated IaaS and platform-as-a-service (PaaS) provider.
How SaaSy can you get?