Spending in 2016 will hit $204 billion, according to Gartner analysts, while IDC says it will reach more than $141 billion by 2019. Spending on public cloud services will increase sharply this year and through 2019, according to analysts with IDC and Gartner.
In a report Jan. 25, Gartner analysts said the global public cloud services market will jump 16.5 percent this year compared with 2015.
In a report issued last week, IDC analysts took a look at projected market growth in public cloud spending between 2014 and 2019, when the space will increase by 19.4 percent, to more than $141 billion. The growth rate is almost six times the rate of overall IT spending during that time, the analysts said.