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Impact Of Cloud Computing

According to Gartner, global spending on public cloud products is growing at an annual rate of 20.4% and is likely to reach $600 billion in 2023.Gartner projects that end-user spending on Infrastructure as a Service (IaaS) is growing at 30.6% year-over-year. The growth forecast is 26.6% for Desktop as a Service (DaaS) and 26.1% for Platform as a Service (PaaS). The increasing trend of hybrid work is driving organizations to spend an estimated $2.6 billion per annum on their cloud migration efforts. Companies that recently provided employees with traditional client computing solutions such as workstations and other physical office tools are now moving to DaaS offerings. PaaS spending will likely increase to $109.6 billion, given end-user demand for cloud native capabilities.According to Gartner, by 2025, IT spending on public cloud services will exceed traditional IT spending. Gartner’s “Cloud Shift” survey only covers segments of the IT market that can migrate to the cloud. These areas include application and infrastructure software, business processes, and system infrastructure. 51% of IT spending in these markets will go toward public cloud solutions by 2025, up from 41% in 2022. 65.9% of application software spending will go towards the cloud in 2025, increasing from 57.7% in 2022.

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