In 2022, the global public cloud services market is expected to grow by approximately 18.8 percent, which amounts to about 490 billion U.S. dollars. While the growth of cloud services is relatively rapid, it still represents a small percentage of the global IT services market, which reached a peak of more than one trillion U.S. dollars in 2021.
What is a public cloud?
A public cloud is a type of cloud computing through which a service provider makes resources, such as applications, virtual machines, or storage capabilities available to the public via the internet. Clients pay for these resources through a pay-as-you-go model or by subscription. The kind of resources offered vary by cloud provider, which is why organizations that want to migrate their data and workloads to the cloud need to develop a migration strategy beforehand.
Public cloud as part of the IT infrastructure solution
Today’s clouds used by organizations are usually not deployed as standalone solutions. Rather, they are an integral part of a heterogeneous mix of information technology (IT) network solutions and environments. Ultimately, organizations seek to increase performance and security while lowering costs and ensuring a wider availability of their services and applications by deploying public clouds.
Market growth forecast for public cloud services worldwide from 2011 to 2023**
**The cloud advertising segment was removed from Gartner's public cloud services forecast segments starting from 2017. The 2017 growth rate is the result of comparing 2017 public cloud revenue to 2016 public cloud revenue excluding the cloud advertising segment.
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Gartner, & Statista. (October 31, 2022). Market growth forecast for public cloud services worldwide from 2011 to 2023** [Graph]. In Statista. Retrieved February 01, 2023, from https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/
Gartner, und Statista. "Market growth forecast for public cloud services worldwide from 2011 to 2023**." Chart. October 31, 2022. Statista. Accessed February 01, 2023. https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/
Gartner, Statista. (2022). Market growth forecast for public cloud services worldwide from 2011 to 2023**. Statista. Statista Inc.. Accessed: February 01, 2023. https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/
Gartner, and Statista. "Market Growth Forecast for Public Cloud Services Worldwide from 2011 to 2023**." Statista, Statista Inc., 31 Oct 2022, https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/
Gartner & Statista, Market growth forecast for public cloud services worldwide from 2011 to 2023** Statista, https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/ (last visited February 01, 2023)
Market growth forecast for public cloud services worldwide from 2011 to 2023** [Graph], Gartner, & Statista, October 31, 2022. [Online]. Available: https://www.statista.com/statistics/203578/global-forecast-of-cloud-computing-services-growth/