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Recent IDC cloud research shows that Worldwide spending on public IT cloud services is expected to approach $100 billion in 2016. Over the 2012–2016 forecast period, public IT cloud services will enjoy a compound annual growth rate (CAGR) of 26.4%, five times that of the IT industry overall, as companies accelerate their shift to the cloud services model for IT consumption.
“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 two to three decades,” said Frank Gens, senior vice president and chief analyst at IDC. “By the end of the decade, IDC expects at least 80% of the industry’s growth, and enterprises’ highest-value leverage of IT, will be driven by cloud services and the other 3rd Platform technologies.”
By 2016, public IT cloud services will account for 16% of IT revenue in five key technology categories: applications, system infrastructure software, platform as a service (PaaS), servers, and basic storage. More significantly, cloud services will generate 41% of all growth in these categories by 2016. “Quite simply, vendor failure in cloud services will mean stagnation,” Gens added.