AI consumption to drive enterprise cloud spending spree
The research firm expects rapid advancement in AI technologies to double the market's size by 2028.
Read the article for a detailed analysis of how AI is reshaping enterprise consumption patterns. Among the key insights, is the growth of Platform as a Service (PaaS) and Infrastructure as a Service (IaaS), while SaaS remains cloud's largest category, consuming two-fifths of enterprise cloud spend.
What is the projected growth of the cloud services market?
The global cloud services market is anticipated to surpass $800 billion this year and is expected to double in size by 2028, driven in part by advancements in AI technologies.
How is AI influencing cloud spending?
Rapid advancements in AI are significantly driving the surge in cloud spending, with IDC forecasting a compound annual growth rate of 19.4% across infrastructure, platform, and application services through 2028.
What role do AI platforms play in cloud services?
AI platforms are expected to be the fastest growing technology, with the category, which includes data management software and AI platform solutions, projected to experience a compound annual growth rate above 50% over the next five years.
AI consumption to drive enterprise cloud spending spree
published by Precision Computer Methods Inc.
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