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Worldwide public cloud spend tipped to hit $70bn in 2015

Latest IDC cloud spending data highlights growing appetite for public cloud services across several vertical markets

The amount spent on public cloud services worldwide will reach nearly $70bn in 2015, according to market watcher IDC.

Nearly half (45%) of this spend will be generated by companies operating in the manufacturing, banking, professional services and retail markets moving to cloud to tap into the big data analytics, mobile and social trends, said IDC. 

On the back of this, the analyst house predicts the number of cloud-based offerings on the market will triple over the next four to five years, and will prompt more firms to adopt a cloud-first strategy to IT procurement.

“Industry-specific applications will be the driving force as businesses look for systems that can be easily configured to their unique business and vertical requirements,” IDC said in a statement.

“With the huge increase in the number and diversity of services available in the market, organisations across the industries will shift steadily toward cloud-first strategies to enable digital transformation,” it said.

Eileen Smith, programme manager at IDC’s Global Technology and Research Group, said the rise of cloud computing has opened up business opportunities in each of these verticals.

“As a result, it is necessary for technology suppliers and buyers to recognise the industry drivers and barriers of cloud deployment. This will allow them to understand the business transformation brought by cloud, and to act on the changes that will shape business and technology strategy in the coming years,” she said.

Read more about cloud investment trends

The appetite vertical markets have for public cloud services means IT suppliers that can provide tailored offerings addressing their individual business needs will be the most successful, IDC added.

“Technology suppliers will continue to see significant demand for their industry-specific systems. It is important for these suppliers to develop strong customer-partner relationships with cloud/platform players to seize opportunities,” Smith added.

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