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Cloud Computing market to reach $116 billion by 2021

November 29, 2018 / Priya Dialani

According to the experts Heather Bellini, Heath Terry, Piyush Mubayi, Caroline Liu, Mark Grant, and Ted Lin, in a quarterly report, the market for cloud computing will keep on growing at the rate of 20% per year through 2021 to reach $116 billion. However, a major spending will be among Alibaba, Microsoft, Google and Amazon. The report further also says that the public cloud sector is predicted to be amalgamated into an oligopolistic market structure.The quickest developing fragment of the market is cloud system infrastructure service basically called as infrastructure as a service or IaaS, which is estimated to develop 27.6% in 2019 to reach $39.5 billion, up from $31 billion in 2018. By 2022, Gartner expects that 90% of associations buying public cloud IaaS will do as such from an integrated IaaS and platform as a service (PaaS) supplier, and will utilize both the IaaS and PaaS capacities from that supplier.