According to a new report by the IDC, public IT cloud spending will expand from $21.5 billion in 2010 to $72.9 billion by 2015. The International Data Corporation's study forecasts cloud services driving growth in the IT industry over the next 25 years.
The study found IT cloud services growing at more than four times the rate of the worldwide IT market. The research forecasts one of every $7 spent on packaged software, service and storage offerings in 2015 will be related to the public cloud model.
“Cloud services and other disruptive technologies are merging into the industry's third major platform for long-term growth,“ said Frank Gens, senior vice president and chief analyst for IDC. “The new platform promises to radically expand the users and uses of information technology, leading to a wide and entirely new variety of intelligent energy solutions.“
Other findings among the research include public cloud services accounting for 46 percent of new net growth in overall IT spending by 2015, SaaS cloud services accounting for three quarters of all spending on public cloud IT services and the forecast that nearly 50 percent of all public IT cloud service revenues will be coming from the U.S. in the next five years.