PaaS is the lowest spending category, with the second largest five-year CAGR of 29.9%.įor a more detailed look within the public cloud market we must turn to alternative research and reports. IaaS is reported as the second largest spending category and is the fastest growing with a projected five-year CAGR of 32.0%. The IDC report identifies SaaS as the largest spending category, capturing more than half of all public cloud spending throughout the forecast period. Driven by a five-year compound annual growth rate (CAGR). It’s not surprising when you think about how many benefits come with cloud computing. Growing from a $229 billion run rate in 2019 to almost $500 billion by 2023. According to which, 91% of businesses reported using a public cloud service, 72% opting for a private cloud solution, and 69% selecting a hybrid solution.īased on projections from the IDC, worldwide spending on public cloud services and infrastructure is forecast to double over the next five years. This aligns closely with the RightScale 2019 State of Cloud report. Taking a detailed look at the segments making up the cloud market, public cloud solutions make up the majority. Cloud market growth and segment leaders (Image source: ) Especially when you consider Gartner is projecting worldwide IT spending of $3.79 trillion in 2019. A 24% growth on the previous year.Īs big as the cloud market has become, there is massive scope for expansion. New data from the Synergy Research Group, across seven key cloud service and infrastructure market segments, operators, and vendors – reports revenues in excess of $150 billion for the first half of 2019. An Overview of the Cloud Computing Market in 2021 You are responsible for managing how the two services interact, especially the security of data passing between both public and private cloud setups. Hybrid CloudĪ hybrid cloud is where you opt to use a mix of both public and private cloud solutions. They are responsible for all management, maintenance, security, and upgrades. Public CloudĪ public cloud is where the provider supplies you with access to their data center infrastructure. Protecting it all with your own firewall and security solutions.
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You own, manage, update and upgrade your own cloud ecosystem of server, networking, software, or platform resources. Within each of these service categories, you have the option of public, private, hybrid cloud solutions: Private CloudĪ private cloud is where you host on your own data center or intranet.
You don’t have to invest time in installing, managing or upgrading software, this is all handled by the provider. Through the application, you store and analyze your own data. (Suggested reading: 7 Key Principles of SaaS Marketing).
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Instead of installing the software application on your local device, you access the provider’s application using the web or an API. SaaS is an offering of cloud computing where the provider gives you access to their cloud-based software.
The provider is responsible for the underlying infrastructure, security, operating systems, and backups. You will have access to a range of tools through the platform to support testing and development. PaaS is an offering of cloud computing where the provider gives you access to a cloud environment in which to develop, manage, and host applications. This provides a flexible hardware resource that can scale depending on your storage and processing needs. Within the providers’ infrastructure, you run your own platforms and applications. IaaS is an offering of cloud computing where the provider supplies you on-demand access to computing resources such as networking, storage, and servers. The three main cloud computing types are: Infrastructure as a Service (IaaS) Each type has its own distinct range of services and cloud providers that make up the market. Understanding the Three Main Types of Cloud Computing Servicesīefore exploring the cloud market and the cloud market share, first you must understand the three main types of cloud computing.