Global public cloud revenue to grow 17% in 2020; SaaS to reach $116B in 2020 – Gartner

SOURCE: ECONOMIC TIMES, NOVEMBER 18, 2019

The global public cloud services market is expected to expand by 17 percent in 2020 to $266.4 billion, according to a new forecast by the tech research firm Gartner published on Monday. Software as a service (SaaS) will remain the largest market segment, which is forecast to grow to $116 billion next year as more enterprises scale up their subscription-based software. The second-largest market segment is cloud system infrastructure services, or infrastructure as a service (IaaS), which Gartner researchers anticipate will reach $50 billion in 2020. That represents an increase of 24 percent year-over-year, the largest expansion of any cloud sector.

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