Businesses around the world spent $21.1 billion on cloud infrastructure services in the fourth quarter (Q4) of 2021, signaling a rebound in spending on cloud storage and compute power.
Spending on cloud infrastructure was up 13.5% in the quarter year on year to $21.1 billion, according to tech research firm, IDC.
The previous quarter saw spending on cloud infrastructure reach $18.6 billion after a remarkable year-on-year decline of 1.9% in Q2 2021, which was the first time in seven quarters that spending on cloud decreased.
