Worldwide Public Cloud Services Market Grew 26% In 2019

Cloud Money

IDC is here with its latest report that shows that the worldwide pubic cloud services market witnessed a solid growth in 2019, coming in at an increase of 26% YoY.

Totaling $233.4 billion.

The top five providers captured a slice that amounted to more than one third of the pie, with spending being consolidated last year with Amazon Web Services, Microsoft, Salesforce.com, Google, and Oracle growing 35% year-over-year.

These are the figures for the worldwide public cloud services market:

IDC Public Cloud Revenue 2019

Discussing the impact that the coronavirus crisis has had on the shift to cloud computing, the research firm says that the economic uncertainty due to COVID-19 has drawn fresh attention to the core benefits of cloud computing — in particular IaaS.

Rick Villars, group vice president, Worldwide Research at IDC:

“Cloud is expanding far beyond niche e-commerce and online ad-sponsored searches. It underpins all the digital activities that individuals and enterprises depend upon as we navigate and move beyond the pandemic. Enterprises talked about cloud journeys of up to ten years. Now they are looking to complete the shift in less than half that time.”

Going forward, IDC believes that the current financial crisis could boost IaaS and PaaS offerings, as customers combine both of these when deploying applications on a public cloud.

AWS and Microsoft Azure, for example, both have more than half the global revenues in these segments, but despite their unhindered success, the competition is still healthy. And this is something that will remain unchanged for the foreseeable future.

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