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Whole Cloud Market in Asia/Pacific will Hit $329.1B in 2027
July 8, 2024 | IDCEstimated reading time: 1 minute
According to a recent IDC report, Asia/Pacific Whole Clou d Forecast, 202 4 –202 7, the Asia/Pacific Whole Cloud spending is forecasted to grow at a CAGR of 17.3% and reach $329.1 billion by 2027. Asia/Pacific Whole Cloud spending grew at a year-over-year (YoY) rate of 10% in 2023, and IDC expects the market to grow at 23.4% in 2024 as cloud-related spending continues to accelerate.
"Despite last year’s economic challenges, there has been considerable demand for the cloud as it becomes the foundation for innovation and a key enabler for leveraging AI. We anticipate robust investments across hardware, software, professional, and managed services as organizations (including governments) in the region aim to scale their digital economies. A major focus will also be on cloud cost optimization with the outlook to maximize utilization of cloud resources,” says Shouvik Nag, Senior Research Analyst, Cloud Research, IDC Asia/Pacific.
Since the last decade, cloud technologies have enabled innovation at scale and speed. The last few years have seen a shift towards leveraging cloud as an operating model and delivery platform; it will continue to play a critical but increasingly supporting role in enabling a rapid pivot to the AI everywhere era.
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