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How the industry cloud computing market is gaining new momentum

January 02, 2019 / David H Deans

As more CIOs and CTOs embrace hybrid IT infrastructure models, incorporating multi-cloud solutions, another key trend is gaining momentum. According to the latest worldwide market study by International Data Corporation (IDC), five large industry groups are expected to spend a total of $37.5 billion on industry cloud solutions in 2018. The five industry groups are healthcare, public sector, finance, retail and wholesale, plus the manufacturing sector. Among them, manufacturing grew the most, while retail and wholesale were next to increase their investment. The overall market is expected to reach $45.4 billion in 2019 with three of the five groups growing above the market average of 21.5 percent. Healthcare provider and public sector spending are both forecast to grow below the market average, although their 2019 growth rates will be higher than those for 2018.