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Public IT Cloud Services Projected To Grow 19% Per Year

By - Source: Toms IT Pro

IDC estimates that public IT cloud services in the U.S. will grow from a volume of $18.5 billion in 2011 to $43.2 billion in 2006.

The compound annual growth rate during this period is forecasted at 18.5 percent.

"According to our research, the three verticals that accounted for more than 50% of the spending in 2011 are discrete manufacturing, professional services, and process manufacturing. This is not surprising as these industries are typically less risk averse and compliance focused," said IDC's Eileen Smith in a prepared statement.

Smith noted that communications, media, education, and construction are the fastest growing verticals in public IT cloud services at this time." We expect the media portion of the communications and media vertical to continue to be one of the main users of storage on demand to enable continuous service for content-heavy customer offerings," she added.

Services and distribution kept the biggest share of the revenue pie with 30.3 percent revenue share in 2011. Manufacturing and resources accounted for 24.0 percent, while the fastest growing category, infrastructure, arrived at 12.3 percent total share.

Wolfgang GruenerWolfgang GruenerWolfgang Gruener is a contributor to Tom's IT Pro. He is currently principal analyst at Ndicio Research, a market analysis firm that focuses on cloud computing and disruptive technologies, and maintains the blog. An 18-year veteran in IT journalism and market research, he previously published TG Daily and was managing editor of Tom's Hardware news, which he grew from a link collection in the early 2000s into one of the most comprehensive and trusted technology news sources.

See here for all of Wolfgang's Tom's IT Pro articles.

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