IDC: Public IT Cloud Spending to Hit $127B in 2018

Frank Gens
Frank Gens

A new forecast from International Data Corp. predicts public information technology cloud services spending will grow to more than $127 billion in 2018 from the $56.6 billion projected for 2014.

That IT cloud spending growth represents more than 50 percent of software, server and storage spending worldwide in 2018, IDC said Monday.

“Over the next four to five years, IDC expects the community of developers to triple and to create a ten-fold increase in the number of new cloud-based solutions,” said Frank Gens, senior vice president and chief analyst at IDC.

Gens added that “there will be unprecedented competition and consolidation among the leading cloud providers.”

IDC cites “cloud first” initiative of IT vendors and buyers as one of the factors that spur public IT cloud services growth.

The research firm expects “an explosion of new solutions and value creation on top of the cloud” as the cloud services market enters what IDC calls an “innovation stage.”

Infrastructure-as-a-service will also reach a compound annual growth rate of 31 percent from 2014 to 2018, according to IDC.

You may also be interested in...

BAE Systems

Navy Taps BAE Unit to Develop Air Traffic Control Platform

BAE Systems' technology solutions and services business has won a $65.7M indefinite-delivery/indefinite-quantity contract to develop, produce, test, evaluate and update air traffic control systems for the U.S. Navy.

HawkEye 360

HawkEye 360 to Move Forward in AFWERX-Hosted Space Tech Competition

The U.S. Air Force's AFWERX organization has named HawkEye 360 among the top 26 participants that will advance into the next phase of an interactive challenge to transform the space innovation landscape.

Troy Rudd CEO AECOM

AECOM Closes Sale of Power Construction Business to CriticalPoint Capital; Troy Rudd Quoted

AECOM has sold its Power construction business to affiliates of CriticalPoint Capital. The sale will add to AECOM’s business transformation strategy to become a higher-margin, lower-risk Professional Services business. “On behalf of our company, I thank the Power construction team for their contributions over the years and wish the business and CriticalPoint Capital the best of success,” said Troy Rudd.