The Public Cloud Market Is Now In Hypergrowth

Public cloud services continue to drive big changes in the markets for software, hardware, and IT outsourcing, while providing a foundation for age of the customer innovations. How much and when will cloud transform these markets? In this research, we project that the public cloud market will reach $191 billion by 2020, from 2013's total of $58 billion. Cloud applications, at $133 billion in 2020, are leading this growth; cloud platforms will generate $44 billion in revenue by 2020; and cloud business services will come in at $14 billion. Much of this growth is initiated by line of business and marketing and strategy leads, but CIOs and their technology management organizations are increasingly expected to be driving these initiatives. For CIOs, the message is clear: "Shift into the driver seat, or others will."