Companies selling cloud services and infrastructure raked in a whopping $110 billion during the four fiscal quarters (Q4 2014 through Q3 2015) that ended last September, according to Synergy Research Group.
Those sales amount to highly respectable year-over-year industry growth of 28 percent.
But breaking the numbers down into six services and infrastructure segments, as Reno, Nev.-based Synergy has done, is even more revealing — while more than half the cloud spending still goes toward purchasing hardware and software, service offerings are growing faster, rapidly closing the gap between segments.