Cloud Security Market Size Gartner. On February 13, 2020 By Balmoon. The Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises is a rigorous independent evaluation of UKGs ability to execute on Gartner forecasts major growth in global public cloud By Sead Fadilpai 23 July 2020 Public cloud services market is expected to grow further, fueled by demand for DaaS and SaaS solutions. Last year in 2018, the market size was valued at $272 billion. BPaaS = business process as a service; IaaS = infrastructure as a service; PaaS = platform as a service; SaaS = software as a service (Source: Canalys) Nag. The second-largest market segment is cloud system infrastructure services, or infrastructure as a service (IaaS), which will reach $50 billion in 2020. Other cloud services, notably Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), will grow faster, as these initially immature technologies have reached the Plateau of Productivity. According to recent Gartner surveys, more than a third of organizations see cloud investments as a top three investing priority, which is impacting market offerings. AWS was the first cloud computing and offering infrastructure as a service in 2008 and has never looked back as it launches new services at a breakneck pace and is creating its own compute stack that aims to be more efficient and pass those savings along. 2020Gartner, Inc. and/or its affiliates. We equip business leaders with indispensable insights, advice and tools to achieve their mission-critical priorities today and build the successful organizations of tomorrow. All rights reserved. Gartner expects that by the end of 2019, more than 30 percent of technology providers new software investments will shift from cloud-first to cloud-only. IoT-edge partnership is expected to revolutionize data computing and account for various corporate gains for those looking to leverage and harness the power of data analytics in developing solutions for major industry verticals Software as a service (SaaS) will remain the largest market segment, which is forecast to grow to $116 billion next year due to the scalability of subscription-based software (see Table 1). The SaaS market is reaching a higher revenue size than The SaaS market is reaching a higher revenue size than According to Gartners forecast, infrastructure-as-a-service (IaaS) solutions, like cloud storage, will be the fastest-growing segment of the market with 24% predicted growth. The cloud managed service landscape is becoming increasingly sophisticated and competitive. Gartner predicts the worldwide public cloud services market will grow 18% in 2017 to $246.8B, up from $209.2B in 2016. This growth is attributed to the demands of modern applications and workloads, which require infrastructure that traditional data centers cannot meet. Worldwide Public Cloud Service Revenue Forecast (Billions of U.S. Nag. Cloud infrastructure spending surpassed $80 billion in 2018. Table 1. Building, implementing and maturing cloud strategies will continue to be a top priority for years to come, said Mr. Gartner released its latest cloud forecast on Wednesday, predicting that the market will grow 17.3 percent in 2019. The cloud computing race in 2019 will have a definite multi-cloud spin. AWS has 32% of the market and generated more revenue than the next three largest combined, Azure is at 19% of the market, Google Cloud at 7%, Alibaba Cloud close behind at 6%, and other clouds with 37%. Gartner, Inc. (NYSE: IT) is the worlds leading research and advisory company and a member of the S&P 500. In fact, by 2022, up to 60% of organizations will use an external service providers cloud managed service offering, which is double the percentage of organizations from 2018, said Mr. Oracle was one of the first providers of cloud ERP solution where the company first launched its cloud ERP solution in June 2012. The worldwide public cloud services market is projected to grow 17.5 percent in 2019 to total $214.3 billion, up from $182.4 billion in 2018, according to Gartner, Inc. The global cloud POS market size is expected to grow at a CAGR of 22.7% during the forecast period, to reach USD 3.73 billion by 2023 from USD 1.34 billion in 2018. Report forecast: Public cloud services, worldwide, 2016-2022, 4Q18 Update reaching. Learn more about how we help decision makers fuel the future of business, visit gartner.com to deliver best! 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