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Why public cloud revenue will reach $186.4 billion in 2018

April 25, 2018 / James Bourne

Around the globe, CIOs and CTOs continue to transition to a hybrid multi-cloud service delivery model, supported by on- and off-premises IT infrastructure. Meanwhile, the worldwide public cloud services market is projected to grow 21.4 percent in 2018 to reach $186.4 billion - that's up from $153.5 billion in 2017. The fastest-growing segment of the market is cloud Infrastructure as a Service (IaaS), which is forecast to grow 35.9 percent in 2018 to reach $40.8 billion, according to the latest worldwide market study by Gartner. Moreover, Gartner expects the top 10 cloud service providers to account for nearly 70 percent of the IaaS market by 2021 - that's up from 50 percent in 2016.