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Public cloud data continues to grow, headed toward $500 billion by 2023

August 5, 2019

The worldwide public cloud services market grew 27.4% year over year in 2018 with revenues totaling nearly $183 billion, according to IDC.

This growth rate, which is more than 4.5 times that of the IT industry overall, showed a modest drop from 2017, not unexpected given the growing base of comparison in the public cloud services market, which has more than doubled over the preceding three years.

The top 5 public cloud service providers accounted for 46.3% of all spending growth in 2018 and 35% of all 2018 spending, up 3 points from 2017.

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