IDC Forecasts Public IT Cloud Services Spending Will Reach $127 billion in 2018 as the Market Enters a Critical Innovation Stage
Public IT cloud services spending will reach $56.6 billion in 2014 and grow to more than $127 billion in 2018, according to a new forecast from International Data Corporation (IDC). This represents a five-year compound annual growth rate (CAGR) of 22.8%, which is about six times the rate of growth for the overall IT market. In 2018, public IT cloud services will account for more than half of worldwide software, server, and storage spending growth. Among the factors driving public IT cloud services growth is the adoption of “cloud first”…
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