Spending on cloud computing to double by 2020, says forecast

The International Data Corporation forecasts that global revenues from public cloud services will reach more than $195 billion in 2020, which will be more than double compared to the $96.5 billion forecasted for 2016. Revenues from Infrastructure as a Service and Platform as a Service are expected to grow faster than revenues from Software as a Service. The industries that will lead in cloud services spending are media, telecommunications, and retail. The largest markets for cloud computing will be the USA, Western Europe and Asia/Pacific.