A third of all IT infrastructure spending will go on cloud by the end of this year as spending on the technology is expected to jump by more than a fifth, according to IDC.
By the end of 2015, total cloud spending globally will jump by 21 per cent annually to $32bn (£21.27bn), accounting for a third of all IT spend. Last year, cloud made up just 28 per cent of total IT spending, IDC said.
Spending on private cloud will jump 16 per cent annually to $12bn and public cloud spending will rocket by a quarter to $21bn.
The fastest rate of growth in cloud spending will come from western Europe, where it will rocket 32 per cent annually this year. The growth in Latin America and Japan will hit 23 per cent and 22 per cent respectively, while in the US, cloud spending will enjoy a 21 per cent boost over the same period.
IDC said cloud will continue to be the must-have technology in the near future.
"The pace of adoption of cloud-based platforms will not abate for quite some time, resulting in cloud IT infrastructure expansion continuing to outpace the growth of the overall IT infrastructure market for the foreseeable future," said IDC research manager Kuba Stolarski.
"As the market evolves into deploying third-platform solutions and developing next-gen software, organisations of all types and sizes will discover that traditional approaches to IT management will increasingly fall short of the simplicity, flexibility, and extensibility requirements that form the core of cloud solutions."
Nana Baffour opens up on Getronics' mammoth acquisition of Pomeroy
Analyst predicts SaaS will remain the dominant segment in the market as it grows 17 per cent in 2019
NSS Labs claims vendors are refusing to have their products tested effectively and are trying to restrict its access
CRN's Nima Green caught up with Chris Labrey for a quick Q&A at CRN's recent European Channel Leadership Forum