Econ 4.0: Is the future cloudy?

Published 25 October, 2019

Here are two geeky — and corny — questions. One, how old is the computer? Answer: As old as Adam and Eve. It was an Apple with limited memory, just one byte. Adam bit on it — and everything crashed. Two, who invented cloud computing? Answer: It was Moses. He was the first with a tablet that could connect to the cloud.

 

If you think those are silly jokes, yes they are. But what is not laughable — other than the cloudy haze — is that global spend on public cloud services is set to cross US$214 billion by 2022, up from US$182 billion in 2018, according to Gartner Inc. That is a compound annual growth rate (CAGR) of 17.5% between now and then.

 

“Cloud services are definitely shaking up the industry. What we see now is only the beginning. We project the market size and growth of the cloud services industry at nearly three times that of overall IT services by 2022,” says Sid Nag, a research vice-president at Gartner.


Source from The Edge Markets