Gartner predicts the public cloud services market to grow to $266.4 billion by 2020.
Gartner forecasts that the worldwide public cloud services market will grow by 17% in 2020 to total $266.4 billion, up from $227.8 billion in 2019.
At this point, cloud adoption is mainstream. The expectations of the outcomes associated with cloud investments therefore are also higher. Adoption of next-generation solutions are almost always ‘cloud-enhanced’ solutions, meaning they build on the strengths of a cloud platform to deliver digital business capabilities”
Sid Nag, Research Vice President, Gartner.
SaaS will remain the largest market segment, which is forecast to grow to $116 billion next year due to the scalability of subscription-based software. The second-largest market segment is cloud system infrastructure services, or IaaS, which will reach $50 billion in 2020. IaaS is forecast to grow 24% year over year, which is the highest growth rate across all market segments. This growth is attributed to the demands of modern applications and workloads, which require infrastructure that traditional data centers cannot meet.
Worldwide Public Cloud Service Revenue Forecast (Billions of U.S. Dollars)
|Cloud Business Process Services (BPaaS)||41.7||43.7||46.9||50.2||53.8|
|Cloud Application Infrastructure Services (PaaS)||26.4||32.2||39.7||48.3||58.0|
|Cloud Application Services (SaaS)||85.7||99.5||116.0||133.0||151.1|
|Cloud Management and Security Services||10.5||12.0||13.8||15.7||17.6|
|Cloud System Infrastructure Services (IaaS)||32.4||40.3||50.0||61.3||74.1|