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Public cloud services to drive APAC cloud computing revenue during 2018-23

November 08, 2019 / Shannon Williams

Public cloud services will drive cloud computing revenue during 2018-2023, according to new figures from GlobalData. The company says with technologies contributing immensely to the strategic business innovation initiatives and cost-efficiency synergies amongst the enterprises, public cloud services are expected to be the major revenue generator of cloud computing in the Asia-Pacific (APAC) region.
According to GlobalData's Market Opportunity Forecasts Model, the public and the private cloud computing services together will account for approximately 80% of the overall US$256bn cloud computing revenue in 2023. Public cloud services are estimated to witness a compound annual growth rate (CAGR) of 21% during the outlook period, which is the highest amongst the various cloud product/services offerings in the region. Enterprises are looking to streamline the management of their day-to-day operations and gain differential competitive advantage by adopting cloud computing services ...