IDC reports 2012 WW spending on public cloud services will total $40 billion before growing to $100bn in 2016 with a CAGR of 26.4%-- x5 the growth of the overall IT industry for the 2012-2016 period.
"The IT industry is in the midst of an important transformative period as companies invest in the technologies that will drive growth and innovation over the next 2 to 3 decades," IDC says. The analyst expects cloud services and other 3rd platform technologies to drive 80% of industry growth by 2020.
By 2016 public IT cloud services should account for 16% of IT revenue in 5 key categories-- applications, system infrastructure software, platform-as-a-service (PaaS), servers and basic servicess. Cloud will also generate 41% of all growth in the 5 categories for 2016.
"Quite simply, vendor failure in cloud services will mean stagnation," IDC adds.
W. Europe will remain the 2nd largest public cloud market (following the US) but emerging markets will account for 30% of net-new public cloud services growth by 2016.
Go WW and Regional Public IT Cloud Services 2012-2016 Forecast (IDC)
