Public cloud service and infrastructure markets, operators and vendors’ revenue jumped 21 per cent to $544 billion in 2022.
New data from Synergy Research Group claims that the biggest growth was seen in infrastructure as a service (IaaS) and platform as a service (PaaS).
Annual revenue from these services grew 29 per cent to reach more than $195 billion, despite some headwinds from the strengthening US dollar and problems in the Chinese market.
In the other main segments, managed private cloud services, enterprise SaaS and CDN added another $229 billion in service revenues, having grown by an average 19 per cent from 2021.
Synergy said public cloud providers spent $120 billion on building, leasing and equipping their datacentre infrastructure, which was up 13 per cent from the previous year.
