Cloud Market Share Shows Vendors Eyeing A $1T Opportunity
theCUBEresearch, Saturday, November 16th, 2024
The ever expanding cloud has become ubiquitous. No longer is the cloud some remote set of services, somewhere up in the sky. Rather, the cloud is seeping into every industry, hybrid on-prem models, edge workloads, telco markets and has its sights set on space.
The market size is staggering and will surpass $1T in revenue in 2025 when including infrastructure (IaaS and PaaS), SaaS and professional services. Much AI work is being done today in the public cloud and despite indications that bringing AI to on-prem data will be a growing trend, it's unlikely that the cloud will stop expanding any time soon.
In this Breaking Analysis we share our latest cloud market update with an expanded view beyond the typical Big four hyperscalers on which we typically focus. We'll also break down the market in more granular detail with the addition of four vendors and a more comprehensive view of the overall market. In addition, we'll drill into the IaaS and PaaS markets and set up a framework for future research.