A recent study by the International Data Corporation revealed that the worldwide public cloud services market grew 24.1% in 2020.

Indeed, it was reported that the combined revenue of the top five public cloud service providers (Amazon Web Services, Microsoft, Salesforce.com, Google, and Oracle) represented 38% of the worldwide total. This then includes Infrastructure as a Service (IaaS), System Infrastructure Software as a Service (SISaaS), Platform as a Service (PaaS), and Software as a Service (SaaS).

It was also showcased that Microsoft shares the top position with Amazon Web Services in the whole public cloud services market as both companies are currently holding a 12.8% revenue share for the year.

This then underlines the increasing reliance of enterprises on a cloud foundation built on cloud infrastructure, software-defined data, Compute and Governance solutions as a Service, as well as cloud-native platforms.

Hence, the study stated that enterprises’ ability to govern a growing portfolio of cloud services will become the key to deploy better automation into business and IT processes all the while becoming more digitally resilient.

It is expected that spending on cloud services will continue growing at a higher rate than the overall cloud market as resilience, flexibility, and agility guide IT platform decisions.