Gartner Predicts Public Cloud Revenue to Cross $208 Billion Mark by 2016

A huge annual growth of 17.2% is being predicted in terms of revenue in comparison with the public cloud revenue in 2015.

public-cloudGreatResponder.com The Gartner research firm has conducted an in depth research on the revenue of public cloud services across the globe. According to that research, the public cloud service revenue is going to cross the $208 billion mark by the end of this year. It will be a huge jump from $178 billion recorded in the year 2015. The average growth across the year in the public cloud revenue for 2016 will remain about 17.2% as compared to the previous year.

While elaborating about the reasons of this gigantic growth in the public cloud domain of business, the research giant informed that innovation, cost saving, enhanced security, fast public cloud adaptability and agility are a few major causes of this growth. Out of all these reasons, the modernization of the IT infrastructure is a key driver of this increase.

While talking about the status of the current public cloud computing market and its trends, the research director at Gartner Research Firm, Mr. Sid Nag said, “Growth of public cloud is supported by the fact that organizations are saving 14 percent of their budgets as an outcome of public cloud adoption, according to Gartner’s 2015 cloud adoption survey. However, the aspiration for using cloud services outpaces actual adoption. There’s no question there is a great appetite within organizations to use cloud services, but there are still challenges for organizations as they make the move to the cloud. Even with the high rate of predicted growth, a large number of organizations still have no current plans to use cloud services.”

It is very important to note that many other research organizations have not predicted such a huge growth in the revenue of the public cloud revenue. The security and privacy are still two major concerns among the companies that have either adopted the public cloud or planning to adopt it.

The vice president at Gartner Research Company, Mr. Ed Anderson said, More education is needed to help organizations overcome the hype associated with security concerns. This should be a key area of focus for providers in working with their clients to unlock the benefits of public cloud services.”

Many experts in the industry are also very optimistic about the substantial increase in the public cloud service revenue.