Forrester’s latest forecast of the public cloud market shows it will grow rapidly to $236 billion in 2020, up 23% from 2014. This growth will be driven by a stronger market for cloud applications like software-as-a-service (SaaS) and an increased demand for cloud platforms like infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS).
The increased size of the 2020 public cloud market reflects faster-than-expected growth, especially for cloud platform revenues, whose 2020 total of $64 billion will be 45% higher than Forrester projected two years ago. The much larger cloud application market will also grow faster, with the 2020 total of $155 billion being 17% higher than our 2014 projection.
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