The public cloud services market is set to see massive growth as a third of organisations now see cloud investments as a critical priority, according to a report from the Gartner beancounters.
Big G predicts that more than 30 percent of technology firms’ new software investments will move from cloud-first to cloud-only by the end of 2019.
Gartner research vice president Sid Nag said that organisations needed cloud-related services to get onboard onto public clouds and to transform their operations as they adopt public cloud services.
“As cloud continues to become mainstream within most organisations, technology product managers for cloud-related service offerings will need to focus on delivering solutions that combine experience and execution with hyperscale providers’ offerings. This complementary approach will drive both transformation and optimisation of an organisation’s infrastructure and operations.”
Almost 19 percent of cloud budgets is spent on cloud-related services, such as cloud consulting, implementation, migration and managed services. Gartner thinks this will rise to 28 percent by 2022.
The global public cloud services revenue market is expected to grow considerably in the next three years as companies continue their cloud investments, the research house added.
The market is expected to grow 17.5 percent this year to hit revenues of $214.3 billion with revenue crossing $300 billion by 2022.
According to Gartner, the fastest-growing market segment will be infrastructure as a service (IaaS), which is projected to grow 27.5 percent in 2019. This is followed by platform as a service (PaaS) which is set to see a growth rate of 21.8 percent.
Nag said: “At Gartner, we know of no vendor or service provider today whose business model offerings and revenue growth are not influenced by the increasing adoption of cloud-first strategies in organisations. What we see now is only the beginning, though. Through 2022, Gartner projects the market size and growth of the cloud services industry at nearly three times the growth of overall IT services.”
