I made this prediction in 2020, and here we are. Spending on public cloud services is about to hit another milestone as business customers spent $18.3 billion on cloud computing in the first quarter of 2022, up 17.2% year over year, according to a recent report by IDC.
This number includes budgets for shared and dedicated infrastructure. However, a major driver of growth was spending on public cloud services, which made up $12.5 billion (68%) of the total. That subcategory was also up 15.7% compared to the first quarter of 2021, according to IDC. That means that spending on cloud computing services is overtaking traditional IT hardware this year. Wow.
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