The latest figures from IDC suggest that businesses will spend $21 billion (£13.5 billion) on public cloud solutions over the course of 2015, which represents a year on year increase of 25 per cent, according to V3.co.uk.
The expansion of private cloud spending will be a little more muted at 16 per cent this year, but still shows that across the private sector, more organisations than ever are shifting their IT infrastructures towards the cloud.
Across the entire cloud sector, the increase in spending will be 28 per cent, making the market work $32 billion (£20.7 billion). And there are regional differences anticipated in the growth rate, with Western Europe’s cloud market leading the way, as analysts estimate that spending will rise by almost a third.
In the US, where the cloud market is a little more mature, there will still be a marked 22 per cent increase in spending, while internationally, it is estimated that about 33 per cent of the entire enterprise IT market will be made up of cloud services.
The rapid growth of the cloud is worthy of note, but it is also important to recognise that it still accounts for a minority share of the whole IT market. As such, it has yet to attain the ubiquity and level of influence that many advocates believe it to possess already.
By 2019, it is predicted that around 45 per cent of the IT market will be caught up with cloud spending, meaning that the 50 per cent mark may be reached within the next half decade.
Report spokesperson, Kuba Stolarski, said that there is no sign of a slowdown in the growth of cloud spending. And with the next generation of public cloud services in development, businesses will have even more reason to shift the focus away from on-site infrastructures.