$250B cloud ecosystem grew 32% in 2018 Credit: Jeremy PerkinsCreative Commons
Business Management

$250B cloud ecosystem grew 32% in 2018

The cloud market ecosystem passed the US$250 billion mark in 2018, driven by annual growth of 32 per cent.

That's according to new data from Synergy Research Group, in compiling data across seven key cloud services and infrastructure market segments, operator and vendor revenues during the past 12 months.

Specific to technology, infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) segments reported the highest growth rate at 50 per cent, followed by hybrid cloud management software at 41 per cent.

Next in line, enterprise software-as-a-service and public cloud infrastructure both recorded an increase of 30 per cent, with hosted private cloud infrastructure services at 29 per cent.

"Cloud started to go mainstream in the 2014-2016 period and we tagged 2017 as the year when cloud became the new normal," said John Dinsdale, chief analyst at Synergy Research Group.

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