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New data from Synergy Research Group shows that across six key cloud services and infrastructure market segments, operator and vendor revenues for the four quarters ending September 2017 reached $180 billion, having grown by 24% on an annualized basis.
IaaS & PaaS services had the highest growth rate at 47%, followed by enterprise SaaS at 31% and hosted private cloud infrastructure services at 30%. 2016 was notable as the year in which spend on cloud services overtook spend on hardware and software used to build public and private clouds, and in 2017 the gap widened. In aggregate cloud service markets are now growing over three times more quickly than cloud infrastructure hardware and software.