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Public cloud market to surpass $300bn by 2021 says Gartner – with 21% growth this year

April 12, 2018 / James Bourne

Public cloud continues to go up and up: according to Gartner, the market will grow 21.4% in 2018 to total $186.4 billion (£131.4bn). Almost 40% of this will come from software as a service (SaaS), with a quarter to come from what Gartner calls cloud business process services (BPaaS) – delivering business process outsourcing (BPO) – and 22% to come from infrastructure as a service (IaaS). IaaS, however, will outstrip BPaaS by 2021 according to Gartner’s predictions. In three years total public cloud service revenues will surpass $300 billion ($302.5bn), with SaaS accounting for 38% of that total, IaaS 27% and BPaaS 19%. SaaS will also hit 45% of total application software spending by 2021.