The cloud market is huge and will keep on growing

The cloud market is huge and will keep on growing

The cloud sector’s revenues, both IaaS (Infrastructure as a service) and PaaS (platform as a service) have grown 51 per cent in the last year, a new research by Synergy says. It has had the strongest growth out of all cloud services.

Private and hybrid cloud infrastructure services grew 45 per cent, while operator and vendor revenues grew 28 per cent.

The research, released late last week, also says people are still spending more on infrastructure hardware and software, but adds that the cloud is closing that gap “rapidly”.

“Companies that featured the most prominently among the market segment leaders are Cisco, HPE, Amazon/AWS, Microsoft, IBM and Salesforce,” the company said in a press release.

The company said 2015 was an extremely important year for the cloud, as the service pushed more into the mainstream. The trend is expected to continue in the future, as well.

“In many ways 2015 was the year when cloud became mainstream. Across a wide range of cloud applications and services we have seen that usage has now passed well beyond the early adopter phase and barriers to adoption continue to diminish,” said Synergy Research Group’s founder and Chief Analyst Jeremy Duke.

For IT vendors and cloud service providers, the future will be an exciting one, he added.

“Cloud technologies are now generating massive revenues and high growth rates that will continue long into the future, making this an exciting time for IT vendors and service providers that focus on cloud,” added Synergy Research Group Chief Analyst John Dinsdale.

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