Strong growth of cloud solutions and services in Europe | ICT Business | TechBuzz

- Advertisement -

Strong growth of cloud solutions and services in Europe

Photo: DepositPhotos / Illustration
Spending on public cloud services (PCS) in Europe will reach $113 billion in 2022 and will double to $239 billion by 2026, growing at a 22 percent CAGR over five years.

Investments in Software as a Service (SaaS) will continue to drive the majority of spending, but Platform as a Service (PaaS) will be the fastest growing segment as PaaS provides business agility by allowing companies to rapidly test and deploy the applications they develop.

- Advertisement -

Professional services, banking, and manufacturing will be among the largest public cloud spenders, absorbing nearly 60 percent of total public cloud spending in 2022. People-centric industries are adapting their work policies to normalize remote work. This means that more attention to remote employee access to information will drive spending on Cloud solutions.

Implementation of digital and cloud-based strategies will continue to be a focus, with European PCS spending (excluding Russia) set to grow by 26.4 percent this year, showing that the cloud will be resilient despite the conflict between Russia and Ukraine. Similarly, Russian investment in cloud solutions is expected to grow (7.7 percent year-on-year) in 2022, but with many companies pulling out of the country, growth will be slower than in the rest of Europe.

“European companies are looking to automate their processes as they face market challenges including supply chain disruption and skills shortages. Companies will increasingly adopt the Cloud to create a solid foundation for real-time data analytics that supports business agility and resilience,” said Andrea Minonne, Senior Analyst at IDC UK.

- Advertisement -

The public cloud allowed the organization to focus on its core competencies while offloading the complexity of owning, operating and maintaining the actual IT infrastructure to public cloud service providers. Companies are increasingly using cloud services to upgrade and upscale their operations to streamline processes and strengthen the value they deliver to customers. Public cloud service providers are extending cloud services to edge locations, and this is supporting technology investment.

Source link

- Advertisement -
I am admin of blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

More from author

Related posts


Latest posts

Want to stay up to date with the latest news?

We would love to hear from you! Please fill in your details and we will stay in touch. It's that simple!