Recent years have witnessed a surge in the use of cloud computing with billions of private and business users taking advantage of the on-demand technology. However, with people spending more time indoors and online, the Covid-19 pandemic has fuelled the growth of the entire market and led to an impressive increase in global demand for cloud services.
According to data presented by AksjeBloggen.com, global cloud services user spending is set to reach $257,5-billion in 2020, a 6% increase in a year. The strong upward trend is expected to continue next year with user spending growing by 18% YoY to $305-billion in 2021.
The research indicates that user spending has jumped almost 50% in five years. Examples of cloud computing use can be found practically everywhere, from messaging apps, streaming services to chatbots or lending platforms.
Billions of people use cloud storage to manage and store private data. However, its ability to provide access to computing power that would otherwise be extremely expensive has seen cloud computing technology spread widely in the business sector, also.
A Gartner survey revealed that over 60% of respondents from industries worldwide stated that their organisation was currently running apps using Amazon Web Services.
Microsoft’s intelligent cloud segment, which includes Microsoft Azure cloud offerings, has also grown rapidly, generating more revenue than its personal computing segment. Many of the world’s largest tech firms have also started incorporating cloud service packages into their offerings.
In 2010, global public cloud services end user spending, including business process, platform, infrastructure, software, management, security, and advertising services delivered by public cloud services, amounted to $76,9-billion, revealed the Statista and Gartner data.
In 2015, this figure soared by 127% to $175-billion. Statistics show that in 2016, user spending peaked at $219,6-billion then tumbled to $145,3-billion a year later. However, the last few years have witnessed a strong increasing trend with the figure rising from $196,7-billion in 2018 to $257,5-billion in 2020, a 30% jump in two years.
Gartner predicts global public cloud services end user spending to continue growing and hit $362,3-billion by 2022.
Analysed by segments, Desktop as a Service (DaaS) is expected to witness a 95,4% growth in 2020, the most significant increase among all the cloud service market segments. This service enables businesses to deliver cloud-hosted virtual desktops to any device, from anywhere. The increasing trend is expected to continue next year, with the DaaS market rising by 61% YoY.
The cloud system infrastructure services (IaaS) market is expected to witness a 26,9% increase next year, up from 15,7% YoY growth in 2020.
Platform as a service (PaaS), software as a service (SaaS), and cloud management and security services follow with 26,6%, 16,1%, and 12,5% YoY growth in 2021, respectively.