Beancounters at IDC have added up some numbers and reached the conclusion that the European public cloud market is growing at a double-digit pace
The analyst estimates the public cloud supply chain contributed almost $500 billion to European GDP.
Writing in its Public Cloud’s Contribution to the European Economy: A Macroeconomic Approach report IDC said this has significantly increased over the past two years, with a spike in 2020 due to the digitisation journey that many organisations undertook during the pandemic.
IDC research analyst, European cloud and multi-cloud management, Filippo Vanara said that for the past five years, the public cloud market has significantly changed the IT industry and grown like no other segment of the European IT market.
“The Covid-19 pandemic has accelerated the adoption of cloud services in Europe as cloud computing is seen as a crucial enabler of business resilience, agility, innovation, and efficiency.”
The research firm added that providing public cloud services requires a significant number of employees along the whole supply chain.
IDC estimates this chain accounts for roughly 1.3 million employees or 0.9 percent of the total European workforce.
IDC Europe European Customer Insights and Analysis research analyst Luca Butiniello said: “We expect public cloud providers to start considering new evaluation frameworks, identifying new metrics to increase clients’ awareness of the role of new solutions adopted, which goes beyond the mere improvement of business processes.”
