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Worldwide public cloud services market will grow by 17.5 per cent in 2019, says Gartner

April 02, 2019
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According to a recent study by Gartner, the value of worldwide public cloud services market is expected to increase from $182.4 billion in 2018 to $214.3 billion in 2019, recording a growth of 17.5 per cent.

As per Gartner, the fastest growing market segment will be cloud system infrastructure services. Infrastructure as a service (IaaS) market valuation is expected to increase from $30.5 billion in 2018 to $38.9 billion in 2019, recording a growth of 27.5 per cent. IaaS will be followed by platform as a service (PaaS), which will record a growth rate of 21.8 per cent.

Further, Gartner predicts that throughout 2022 the market size and growth of the cloud services industry will be nearly three times the growth of overall IT services.

Moreover, Gartner estimates that over 30 per cent of technology providers’ new software investments will shift from cloud-first to cloud-only by the end of 2019. This will significantly decrease the consumption of license-based software, while software as a service (SaaS) and subscription-based cloud consumption models will continue to rise.

 
 
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