Public Cloud IaaS, PaaS market likely to touch $400bn in 2025: IDC

IDC report hints that the combined Public Cloud Infrastructure as a Service (IaaS) and Platform as a Services (PaaS) market is predicted to touch $400 billion revenue in 2025 with a CAGR of 28.8 percent the 2021-2025 forecast period.  Cloud IaaS and PaaS is a critical, enabling component for the future of digital infrastructure.

Public cloud services remain an essential part of enterprise revival strategy as IT organizations reevaluate budgets, build infrastructure focused on business resilience, and work toward operating efficiently and managing risk in a post-Covid-19 world.

Andrew Smith, research manager Cloud Infrastructure Services says, "Enterprise spending on public cloud infrastructure continues to grow faster than traditional IT infrastructure segments."

He further adds, "We expect all workload segments to grow in the double digits some slightly faster than others as enterprises emerge from 2020 and continue to prioritise workload migration and modernization using public cloud infrastructure.”

Unstructured data analytics/data management and media streaming are estimating to be the fastest growing segments with CAGRs of 41.9 percent and 41.2 percent, respectively.

However, other business applications, file and print and content applications is likely to grow slower than the overall market average while still resulting double-digit growth throughout the forecast period, the report states. Enterprises are shifting from workload migration to workload modernization on public cloud.

The report further adds, "Relentless enterprise data growth continues to push many workloads to the public cloud, as enterprises look to effectively manage data growth, as well as their IT budget.”

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