Global computing is moving toward more servers with more capacity run by giant CSPs and smaller third-party vendors, with enterprises continuing to increase investments in cloud infrastructure and other related services.
Annual global spending on cloud reached $227 billion last year, growing at an average rate of 42% per year, the report said. That represents a complete reversal from just a decade ago, when on-prem IT hardware and software consumed over $80 billion annually and cloud spend stood at $10 billion.
