January 25, 2016 1:41 am | Updated 3 years ago.
Public Cloud will leverage maximum power over the IT sector as it recorded a compounded annual growth rate of 19.4%.IDC predicts that investment on public cloud services will increase from $ 70 billion to $141 billion in 2019. Analysts also predicted that AWS and Microsoft will be among the top five storage vendors in the world.
Software as a service (SaaS) will keep on occupying the biggest share as far as public cloud spending is concerned. Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) will also record a growth of 27.0% and 30.6% each.
According to a report by 451 Research study, public cloud service companies will change the functioning of the storage market. Retail, as an industry, will push this growth, accounting for about 25% of total spending by 2017.The main objectives of these storage players will be to recover data and also to maintain a continuous backup.