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Worldwide spending on public cloud services and infrastructure will reach $122.5 billion in 2017, representing an increase of 24.4% over 2016.
As enterprises across the world increased investment, overall public spending is expected to surge 21.5% by 2020, nearly seven times the rate of overall IT spending growth.
By 2020, IDC research forecasts public cloud spending will reach $203.4 billion worldwide.
Software as a service (SaaS) will remain the dominant cloud computing type, capturing nearly two-thirds of all public cloud spending in 2017 and roughly 60% in 2020.
According to IDC, SaaS spending, which is comprised of applications and system infrastructure software (SIS), will, in turn, be dominated by applications purchases, which will make up more than half of all public cloud spending throughout the forecast period.
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