IDC Cloud Spending to Grow 21% by 2021

Over the next 5 years, it is predicted that $266 billion will be spent on public cloud services and infrastructure amounting to a 21% growth rate. There has been a 33% increase of the amount of Software as a Service (SaaS) apps that companies use since last year alone. The reason so many companies are utilizing SaaS is because of it’s ability to deliver better service and products. SaaS helps with cleaning up revenues and investment decisions. However, it is likely that with a 30% annual growth rate of both Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), these cloud services will surpass the use of SaaS. Interestingly enough, the cloud infrastructure as a whole now accounts for 58.7% of the overall expenses on IT infrastructure products, which is significantly faster than traditional IT infrastructure.

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