We already recognize that cloud computing is among the most vital industries in the world, and spending on cloud services has increased and IDC now has evidence to back it up.
Spending on cloud storage and computing solutions, including dedicated and shared environments, increased 13.5 percent year on year to $21.1 billion in the fourth quarter of last year, as per a new report from the analytical firm.
Cloud spending increased 8.8 percent year on year to a stunning $73.9 billion, whereas non-cloud infrastructure investment increased 4.2 percent year on year to $59.6 billion.
Over the last two years, businesses and governments throughout the world have begun to invest more lavishly in cloud services, owing to the pandemic’s emphasis on the significance of becoming connected remotely.
AWS, Microsoft Azure, and Google Cloud have all witnessed significant growth in sales and earnings since the beginning of 2020.
As per IDC, the trend shows no indication of abating. By 2026, global cloud infrastructure spending on shared and dedicated solutions is estimated to account for about 70 percent of total spending.
Although cloud services may appear to the end-user to be magical, they all depend on massive quantities of computer power housed in far-flung data centers and fast broadband connections.
The complete IDC analysis is worth a read for comprehensive details as to who invested what, in what, and where, but the overall conclusions are that spending went up and to the right in nearly every situation.
That was accurate for practically all locations throughout the world (excluding Latin America) throughout all service types – and the same is predicted as we move further into this year.
AWS, Azure, and Google Cloud, as well as its regional equivalents such as Alibaba Cloud, are on a rocket ship with no clear destination in sight.
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