For 2013, worldwide public cloud services revenue reached a total of US$45.7 billion and IDC expects this market to grow at a compound annual growth rate (CAGR) of 23% through 2018, according to the IDC research group (www.idc.com).
"Data provides the edge to companies that can leverage their information for competitive advantage, through new products and services or an enriched customer experience. Software for data management, data access, and collaborative information sharing continues to lead the growth in the overall software industry," says Frank Gens, senior vice president and chief analyst at IDC.
Two product groups comprise the total public cloud services market in IDC's software taxonomy: cloud Software and cloud infrastructure. Cloud software spending represented almost 86% of the total public cloud services market in 2013 while Cloud Infrastructure held the remaining 14%. The Cloud Software market...| Read more »