Cloud computing

• [New] Although software as a service (SaaS) remains the largest market segment and is forecast to grow to $117.7 billion in 2021, application infrastructure services is anticipated to grow by a higher margin at 26.6%.
• [New] The segment that is expected to experience the biggest uptick in spending is platform as a service, with Gartner predicting growth of 26.6% to $55.4bn in 2021.
• [New] By 2022, more than 90% of enterprises worldwide will be relying on a mix of on-premises / dedicated private clouds, multiple public clouds, and legacy platforms to meet their infrastructure needs.
• [New] The global Cloud Platforms for Internet of Things market is expected to gain at a desirable rate during the predicated timespan between 2020 to 2026.
• [New] The global Connectivity Platforms for IoT Devices market is expected to gain at a desirable rate during the predicated timespan between 2020 to 2026.
• Amid the COVID-19 crisis, the global market for Healthcare Cloud Computing estimated at US$ 14 Billion in the year 2020, is projected to reach a revised size of US$46.
• The World Economic Forum predicts that over 60% of global GDP will be digitized by 2022 and that over the next decade, digital platforms will be used to create close to 70% of new value.
• The market for employee monitoring software in various forms would be worth $3.84 billion by 2023, though it warned that data privacy concerns could curb growth.
• Despite being a small fraction of I.T. spending, Gartner projects the market size of the cloud services industry to increase at nearly three times the rate of overall I.T. services through 2022, to reach $331 billion.
• Public cloud services will grow at 17% during 2020, and states, IaaS is forecast to grow 24% year over year, which is the highest growth rate across all market segments.
• Software as a Service (SaaS) will retain its position as the largest segment, growing to $104.7 billion in 2020 from $120.1 billion in 2019.
• The global cloud computing market size is foreseen to extend from $371.4 billion in 2020 to $832.1 billion by 2025, at a compound annual growth rate of 17.5% over the conjecture period.
• Worldwide revenues for artificial intelligence software, hardware and services will reach $156.5 B in 2020, increasing 12.3% over 2019.
• The worldwide spread computing market size must grow from USD 371.4 billion to USD 832.1 billion by 2025.
• The no-code, low-code development platform market is projected to grow from USD 13.2 billion in 2020 to USD 45.5 billion by 2025, at a Compound Annual Growth Rate of 28.1%.
• Vehicle makers intend to launch 45 new high-voltage platforms by 2022, spanning hundreds of vehicles and 13% of global vehicle production.
• Introducing more stringent liability rules for platforms in the Digital Services Act could lead to up to €23 billion in revenue lost for small businesses across Europe.
• Revenue generated by AI hardware, software and services is expected to reach US$ 156.5 billion worldwide in 2020.
• The global crm software market is expected to decline from $49.3 billion in 2019 to $49.2 billion in 2020 at a compound annual growth rate of -0.2%.
• Total global spending on cloud services, the hardware and software components underpinning cloud services, and the professional and managed services opportunities around cloud services will surpass $1 trillion in 2024 while sustaining a double-digit compound annual growth rate of 15.7%.
• Although the global cloud computing market size is expected to grow from USD 371.4 billion in 2020 to USD 832.1 billion by 2025, at a compound annual growth rate of 17.5%, on-premise servers still operate in 98% of businesses.
• FCA would invest in a vehicle platform that will enable the assembly of plug-in hybrid and battery electric vehicles, with at least one new model in 2025.

Last updated: 22 November 2020