Analyst outfit IDC is rattling its crystal balls and is predicting cloud IaaS and PaaS are ‘critical’ components for the future of digital infrastructure
The number cruncher said that the combined global Public Cloud Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) markets will reach revenues of $400 billion in 2025.
In addition, the analyst claims the combined markets will have a CAGR of 28.8 percent during the 2021-2025 forecast period.
Cloud Infrastructure Services research manager, Andrew Smith said enterprise spending on public cloud infrastructure continues to grow faster than traditional IT infrastructure segments.
“We expect all workload segments to grow in the double digits — some slightly faster than others — as enterprises emerge from 2020 and continue to prioritise workload migration and modernisation using public cloud infrastructure.”
IDC highlighted application development and testing, structured data management, and structured data analytics as the largest workload segments by revenue share.
It added unstructured data analytics/data management and media streaming are forecast to be the fastest-growing segments with CAGRs of 41.9 percent and 41.2 percent, respectively.
IDC said other business applications, file and print, and content applications will grow slower than the overall market average while still delivering double-digit growth throughout the forecast period.
