Enterprise Spending on Cloud Infrastructure to Accelerate in 2021
The pandemic greatly accelerated organizations' adoption of cloud services as a result of the widespread move to remote working and will continue to see demand from organizations looking for increased scalability, business continuity and cost efficiency in 2021. Enterprise spending on cloud infrastructure is likely to continue to accelerate in 2021 as more organizations focus on moving from on premises data centers to data centers operated by cloud service providers. Software as a service (SaaS) is expected to still be the largest market segment for end-user cloud IT spending and is forecast to grow approximately 16 percent to $117.8 billion according to Gartner.
PaaS based application services are expected to grow at a higher 26.6 percent rate to about $5.5 billion. One of the biggest PaaS growth segments in 2021 will be multi cloud serverless offerings. These solutions and associated low-code platforms will be essential ingredients in more enterprises’ application modernization, digital transformation, and business continuity strategies. It is also likely that 2021 will see a reshuffling of the top three public cloud providers, with China’s Alibaba Cloud displacing Google Cloud to take the No. 3 spot for revenue in the global public cloud infrastructure market according to Forrester.
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