Tag Archives: cloud-based

Why the cloud computing market is projected to reach $411bn by 2020

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  • Worldwide public cloud services market revenue is projected to grow 18.5% in 2017 reaching $260.2B, up from $219.6B in 2016.
  • 2016 worldwide SaaS revenue exceeded Gartner’s previous forecast by $48.2B.
  • SaaS revenue is expected to grow 21% in 2017 reaching $58.6B by the end of this year.
  • Infrastructure as a Service (IaaS) is projected to grow 36.6% in 2017 alone, reaching $34.7B this year making this area the fastest growing of all cloud services today.

Gartner’s latest worldwide public cloud services revenue forecast published earlier this month predicts Infrastructure-as-a-Service (IaaS), currently growing at a 23.31% Compound Annual Growth Rate (CAGR), will outpace the overall market growth of 13.38% through 2020. Software-as-a-Service (SaaS) revenue is predicted to grow from $58.6B in 2017 to $99.7B in 2020. Taking into account the entire forecast period of 2016 – 2020, SaaS is on pace to attain 15.65% compound annual growth throughout the forecast period, also outpacing the total cloud market. The following graphic compares revenue growth by cloud services category for the years 2016 through 2020. Please click on the graphic to expand it for easier reading. Continue reading