$40 Billion Global Cloud Services Market Expected to Grow 27 Percent Per Annum for Next 3 Years – New Everest Group Report
Dallas, Texas (PRWEB) April 21, 2015 -- Cloud adoption across global service engagements – a market measured at US$40 billion in 2014 – is expected to continue its rapid growth through 2018, with 23 to 27 percent per year compound growth forecasted by Everest Group.
Cloud has now become and integral part of global services. Of all global services engagements signed in 2014, around 11 percent included cloud-based delivery. The average total contract value (TCV) of deals that include cloud delivery witnessed an overall increase of 60 percent from 2012 to 2014, reflecting that enterprises are becoming increasingly confident in adopting cloud-based delivery and are progressively moving workloads to the cloud.
Public cloud infrastructure services account for about two-fifths of the global cloud services market; private cloud services account for about one-third; and the remainder comprises cloud professional and management services.
These results and other findings are explored in a recently published Everest Group report: “Enterprise Cloud Services – Annual Report 2015: ‘Contracting Remains Cloudy.’”
***Download a complimentary 11-page preview of the report*** This preview summarizes report methodology, contents and key findings and offers additional resources. (Registration required.)
The full report analyzes cloud adoption across global service engagements from 2011 to 2014. It examines multiple aspects of the global cloud services market, such as overall market size and growth estimates, deal size, cloud deployment trends, buyer adoption trends and the outlook for 2015-2016.
“Our research indicates that enterprise cloud adoption is increasing as buyers realize the cost savings, flexibility and resilience of the cloud,” said Chirajeet Sengupta, Vice President at Everest Group. “However, too many enterprises are limiting cloud services to SaaS, infrastructure transformation and application implementation. In our opinion, buyers are too slow to transform existing applications to the extent they should, and enterprises should be leveraging cloud-based delivery to a much larger degree for more critical business functions.”
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High-resolution graphics illustrating key takeaways from these reports can be included in news coverage, with attribution to Everest Group. Graphics include:
• Cloud confidence grows. Enterprises move more workloads to the cloud as they become more confident in cloud-based delivery.
• Average deal value of cloud services increases in all regions
• Creating advantages in the cloud services market
• Cloud confusion: Contract evaluation changes.
***Additional Resources***
• Enterprise Cloud Infrastructure Services – PEAK Matrix™ Assessment and Profiles Compendium
• Infrastructure Outsourcing – Annual Report 2014: “The Future is Software”
About Everest Group
Everest Group, an advisor to business leaders on the next generation of global services, has a worldwide reputation for helping Global 1000 firms improve performance by optimizing back- and middle-office business services. Through practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Visit research.everestgrp.com.
Andrea M. Riffle, Everest Group, http://www.everestgrp.com, +1 954-801-8474, [email protected]
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