Despite earlier figures that suggested spending on cloud computing was continuing to grow as businesses were optimizing rather than cutting, but new figures from Synergy Research Group(opens in new tab) suggest that simply isn’t the case.
While companies continue to plough huge amounts of money into their cloud services, the rate at which the growth has been increasing showed significant signs of suffering over the last year.
Despite a smaller year-on-year growth in the first quarter of 2023 compared with the year prior – at 20% – some positives can be drawn such as the total figure which stood at $63 billion worldwide – up more than $10 billion compared with Q1 2022.
