International Data Corp. has released a new report that forecasts cloud information technology infrastructure spending to account for 46.5 percent of overall IT infrastructure spending by 2019.
IDC said Monday the projected $54.6 billion in cloud IT infrastructure spending by 2019 would represent a compound annual growth rate of 15.6 percent from 2015 through 2019.
“The breadth and width of cloud offerings only continue to grow, with an increasing universe of business- and consumer-oriented solutions being born in the cloud and/or served better by the cloud,“ said Natalya Yezhkova, research director of storage systems at IDC.
“This growing demand from the end user side and expansion of cloud-based offerings from service providers will continue to fuel growth in spending on the underlying IT infrastructure in the foreseeable future,“ Yezhkova added.
The report also predicts the total spending on server, storage and Ethernet switch will reach $33.4 billion in 2015, up from 28.1 percent in 2014, to represent a third of overall IT infrastructure spending.
IDC expects public cloud IT infrastructure spending in most regions to grow faster than the private cloud IT infrastructure due to efforts toward public cloud data center expansion.