Gartner’s latest forecast reveals that worldwide end-user spending on public cloud services is expected to grow 20.7 per cent to total US$591.8 billion in 2023, up from US$490.3 billion in 2022. This is higher than the 18.8 per cent growth forecast for 2022.
“Current inflationary pressures and macroeconomic conditions are having a push and pull effect on cloud spending,” said Sid Nag, vice president analyst at Gartner. “Cloud computing will continue to be a bastion of safety and innovation, supporting growth during uncertain times due to its agile, elastic and scalable nature.”
Nag added that while cloud spending is growing, organizations can only spend what they have. He said spending could even decrease if overall IT budgets shrink, since cloud is continuing to be the main portion of IT spend and proportionate budget growth.
Infrastructure-as-a-service (IaaS) is forecast to experience the highest end-user spending growth in 2023 at 29.8 per