Public cloud spending to reach $219 bn: IDC

Public cloud service spending is projected to reach $219.3 billion by 2027, according to the recent release of the IDC.
Public cloud spending by industries IDC reportThe Asia Pacific region is experiencing a double-headed IT spending boom, with public cloud services and software investments skyrocketing with a compounded annual growth (CAGR) of 14.2 percent by 2027 for the next 5 years.

The demand for data analytics, cybersecurity, and AI solutions drives cloud adoption. This reflects the crucial role software plays in digital transformation initiatives across various industries. Businesses are investing heavily in cloud-based software, data analytics tools, and AI platforms to optimize operations, enhance customer experiences and gain valuable insights.

“As Asia Pacific strategically invests in public cloud and software, a message rings clear: Innovation is not a choice but a necessity for weathering global uncertainties and emerging as digital leaders,” said Mario Allen Clement, Associate Research Manager, Data and Analytics, IDC Asia Pacific.

Some businesses remain hesitant due to data security, network limitations, lack of internal expertise, desire for control, and upfront costs.

Cloud providers are countering these concerns by boosting security, improving network infrastructure, offering training and support, providing hybrid/multi-cloud options, and implementing flexible pricing models. This focus on addressing specific needs will likely continue to drive cloud adoption across the region, despite the persistence of on-premises technology preferences.

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