IDC has published a study of the global public cloud services market in 2022. The industry continues to demonstrate rapid growth, with spending estimated to exceed half a trillion dollars.
The company's experts took into account spending in the most common areas, primarily IaaS, PaaS, SaaS, and SaaS-SIS (SaaS in the field of system infrastructures). It turns out that in total, companies spent $545.8 billion on the cloud. By comparison, the year before, the final bill totaled $444.2 billion, which is 22.9% less than the 2022 result.
The largest area of the global public cloud market is SaaS services, which brought in $246.3bn in 2022, with a 45.1% share of total spending. IaaS services are ranked second with $115.5bn and 21.2% of the industry. Next are PaaS platforms at $92.6bn and 17.0%, and SaaS-SIS systems at $91.4bn and 16.7% of the global market.
IDC also analyzed the turnover of the largest international cloud service providers. The five most prominent cloud providers together generated more than 41% of the industry's total revenue. Over the year, they increased their revenue by 27.3%.
Most organizations rate their public cloud provider as a strategic technology partner. IDC predicts that spending on core cloud services (IaaS and PaaS) will increase, with the growth rate becoming even more remarkable compared to the overall cloud market. This is driven by the desire of organizations to use cloud technologies to digitize their business faster.