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Cloud Computing: Cloud On Track to Dominate Software Delivery
Public cloud services spending is expected to double over the next four years, according to analyst firm IDC. By 2020, roughly one quarter of all software sales will be cloud-based and total cloud sales will reach $195 billion. A major reason for the growth is the desire of IT teams to cut costs and to remain competitive.
Benjamin McGrath, Senior research analyst at IDC, said that “cloud software will significantly outpace traditional software product delivery over the next five years, growing nearly three times faster than the software market as a whole and becoming the significant growth driver to all functional software markets.”
Of the 20 industry sectors tracked by IDC, all are expected to increase spending on cloud software. Biggest spenders will be from discrete manufacturing, banking and professional services, and together will account for one third of cloud software spending. The industry sectors that are growing the fastest are media, telecommunications and retail.
Eileen Smith, program director at IDC, said that “Cloud computing is breaking down traditional technology barriers as line of business leaders and their IT organisations rely on cloud to flexibly deliver IT resources at the lower cost and faster speed that businesses require…Organisations across all industries are now free to adapt to market changes quicker and take more risks, as they are no longer bound by legacy IT constraints.”
