Public Cloud services market in Asia-Pacific to reach $154 bn in 2026
The Public Cloud services market in the Asia-Pacific region is likely to reach $153.6 billion in 2026, a report has shown.
IANS
Apr 7, 2023 02:25
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New Delhi, April 7 (IANS) The Public Cloud services market in the Asia-Pacific region is likely to reach $153.6 billion in 2026, a report has shown.
IDC expects the Asia/Pacific excluding Japan (APeJ) Public Cloud market will grow at a year-over-year (YoY) rate in 2022 at 25.9 per cent in comparison to 36.3 per cent in 2021, as cloud migration continues to accelerate.
However, the YoY growth rates will slow down, beginning from 2023 with a YoY growth of 24.1 per cent, to 21.4 per cent in 2026.
"Organisations in the APeJ region are progressing their cloud adoption along the advancements offered by the cloud market segment. Organisations will continue to invest in these adjacent technologies to enhance their customer experience and business outcomes," said Shahnawas Latiff, Research Manager, Cloud Services, IDC Asia/Pacific.
Infrastructure as a service (IaaS) will achieve a market value of $65.6 billion and make up 42.7 per cent of the Asia/Pacific Public Cloud services market in 2026.
Platform as a service (PaaS) will reach a market value of $29.8 billion, contributing to 19.4 per cent of the market.
Software as a service (SaaS) will grow almost more than double from $22.9 billion in 2021 to $58.1 billion in 2026, contributing to 37.8 per cent of the entire Asia/Pacific Public Cloud market market, said the report.
"SaaS growth is attributed to organisations who want to streamline their operations and process by transforming their applications into scalable modules," it added.
