Technology and IT research leader Gartner predicted in its annual public cloud revenue forecast report that public cloud spend will almost double in the next three years (2022), from its current $182.4bn to $331.2bn. So, if you’re considering a sales career and are wondering what to sell, you may have found your answer.
Leading the pack
Gartner’s report broke out spend by segment, including IaaS (Infrastructure-as-a-Service), PaaS (Platform-as-a-Service), SaaS (Software-as-a-Service), BPaaS (Business Process-as-a-Service) and Cloud Management and Security Services.
The far and away leader in projected revenue growth is SaaS, which they also refer to as Cloud Application Services. Today, it generates almost half of public cloud spend ($80bn), and is expected to maintain roughly the same percentage growth when it reaches, according to Gartner, $143.7bn by 2022.
But the percentage growth leader is IaaS, and by a long shot. It’s expected to grow by over 250% in the next three (3) years, from its current $30.5bn to over $76bn. Then comes PaaS, presently at $15.8bn, which is predicted to be $31.8bn by 2022.
According to Sid Nag, a Gartner research vice president, “We [Gartner] know of no vendor or service provider today whose business model offerings and revenue growth are not influenced by the increasing adoption of cloud-first strategies in organizations. What we see now is only the beginning, though. Through 2022, Gartner projects the market size and growth of the cloud services industry at nearly three time the growth of overall IT services.”
Percentage of overall IT spend
Several recent Gartner surveys have revealed that almost a third of organizations see cloud spend as one (1) its three (3) top investing priorities. More traditional, non-cloud offerings, such as software and infrastructure, comprise the other seventy-two percent (72%). And Gartner predicts that by the end of 2019 (yes, this year) over thirty percent (30%) of service providers’ investments in new software will shift from license-based software consumption to a SaaS subscription-based model.
According to Michael Warrilow, another Gartner research vice president, “Cloud shift highlights the appeal of greater flexibility and agility, which is perceived as a benefit of on-demand capacity and pay-as-you-go pricing in cloud.”
What he doesn’t mention is where to type in “Public Cloud sales representative” on Monster.com.
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