Over the next five years, the compound annual growth rate (CAGR) for cloud IT infrastructure spend is expected to slow from the 2016 high. IDC is now forecasting that $57.8 billion will be spent on cloud in 2020, which is a 12.5 percent five-year CAGR.
By 2020, IDC is also now forecasting that cloud will represent nearly half (47.9 percent) of total IT infrastructure spend in the enterprise.
From a public/private cloud split in 2020, $20.3 billion is forecast for private cloud IT infrastructure spend, while $37.5 billion is the forecast for public cloud services.
Read the full story at ServerWatch:
Server Spending Bolstered by Cloud Growth
Sean Michael Kerner is a senior editor at InternetNews.com. Follow him on Twitter @TechJournalist.