Worldwide Spending On Public Cloud Services Is Forecast To Reach $1.35 Trillion In 2027, According To New Idc Spending Guide

Worldwide spending on public cloud services is forecast to reach $1.35 trillion in 2027, according to the latest update to the International Data Corporation (IDC) Worldwide Software and Public Cloud Services Spending Guide. The market is expected to achieve a five-year compound annual growth rate (CAGR) of 19.9%. Of the 28 industries covered in the Spending Guide, the three largest in 2027 – Banking, Software and Information Services, and Telecommunications – will together represent $326 billion in public cloud services spending. Software as a Service (SaaS) – Applications will be the largest category of public cloud services spending, followed by Infrastructure as a Service (IaaS) and Platform as a Service (PaaS).