Cloud is said to be the powerhouse that drives today’s digital organizations, in relation to the latest worldwide end-user spending forecast on public cloud services.
Gartner's data reveals a 20.4% growth in spending during 2022, totaling $494.7 billion, up from $410.9 billion in 2021. By next year, public cloud end-user spending is expected to reach nearly $600 billion.
Infrastructure-as-a-service (IaaS) is also forecasted to experience the highest end-user spending growth in 2022 at 30.6%, followed by desktop-as-a-service (DaaS) at 26.6% and platform-as-a-service (PaaS) at 26.1%.
The new reality of hybrid work is prompting organizations to move away from powering their workforce with traditional client computing solutions toward DaaS, which is driving spending to reach $3.2 billion in 2023. Demand for cloud-native capabilities by end-users also accounts for PaaS growing to $136.4 billion in spending next year.
Forecasted to reach $208 billion by 2023, software-as-a-Service (SaaS) remains the largest public cloud services market segment. Enterprises are seen to be taking multiple routes to market with SaaS and continue to break up larger, monolithic applications into composable parts for more efficient DevOps processes.
Emerging cloud technologies such as hyperscale edge computing and secure access service edge (SASE) are also creating additional revenue streams for public cloud providers.
