Security News > 2020 > August > Global public cloud services market grew 26% YOY in 2019 with revenues totaling $233.4 billion

The worldwide public cloud services market, including Infrastructure as a Service, Platform as a Service, and Software as a Service, grew 26% year over year in 2019 with revenues totaling $233.4 billion, according to IDC. Spending continued to consolidate in 2019 with the combined revenue of the top 5 public cloud service providers capturing more than one third of the worldwide total and growing 36% year over year.

Public cloud services market has doubled since 2016.

The public cloud services market has doubled in the three years since 2016.

"SaaS applications remains the largest segment of public cloud spending with revenues of more than $122 billion in 2019. Although growth has slowed somewhat in recent years, the current crisis serves as an accelerator for SaaS adoption across primary and functional markets to address the exponential growth of remote workers," said Frank Della Rosa, research director, SaaS and Cloud Software.

A combined view of IaaS and PaaS spending is relevant because it represents how end customers consume these services when deploying applications on public cloud.

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