Cloud computing will account for an even bigger chunk of enterprise tech spending over the next few years, as businesses decide it’s time to migrate even more applications and services.
Spending on public cloud services is expected to grow 18.4% next year, to a total of $304.9 billion — up from $257.5 billion in 2020, according to tech analyst Gartner. The proportion of total enterprise IT spending that goes on cloud computing is also expected to grow rapidly, from 9.1% in 2020 to 14.2% by 2024.