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Global Cloud Services Market Expected to Grow 17% by 2020

Cloud services are increasing day by day as more and more organizations are going for virtual cloud hosting services for better IT infrastructure. The cloud computing market is expected to grow 17% by 2020 which is a great number. The cloud ecosystem would provide more and more flexibility and security to IT infrastructure.u00a0

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Global Cloud Services Market Expected to Grow 17% by 2020

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  1. Global public cloud services market expected to grow 17% in 2020 As more and more organizations are hoping into cloud services to manage their overall IT infrastructure, revenue for the cloud service market is projected to jump by at least 17% in 2020. In dollars the market would bring total revenue of around $266.4 billion next year and it will rise from around $227.8 billion which is the estimated revenue of this year. The market revenue will rise up to $308.5 billion in 2021 and $354.6 billion in 2022. In 2020, the second largest leading segment in IT industry will be virtual cloud hosting services. Software as a service (Saas) will remain the biggest service due to its more flexible and scalable nature. After Saas the second largest service will be Infrastructure as a service (IaaS). The IaaS market will hit $50 billion next year. This will be due to the growth in demand of applications and workloads. “In fact, by 2022, up to 60% of organizations will use the external cloud server providers double the percentage of organizations from 2018.” "Application services, Cloud-native capabilities, multicloud and hybrid cloud comprise a diverse cloud ecosystem that will be important differentiators for technology product managers. Demand for strategic cloud service outcomes signals an organizational shift toward digital business outcomes."

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