Cloud Cost Management Industry Statistics

In this post, we will explore key statistics shaping the cloud cost management industry. With projections indicating significant growth in cloud IT infrastructure spending and market size, businesses are leveraging cloud solutions to enhance operational efficiency and cost savings. Stay tuned as we dive into the latest data driving the evolution of cloud technology and its impact on organizations worldwide.

Statistic 1

"Total spending on cloud IT infrastructure is projected to reach $105.6 billion in 2024, which represents 64.0% of total IT infrastructure spending."

Statistic 2

"The global cloud computing market is expected to reach $832.1 billion by 2025."

Statistic 3

"81% of businesses report operational improvement within their first few months of utilizing the cloud."

Statistic 4

"The average Cloud Cost Management organization oversees an estimated $2.2 million in annual cloud spend."

Statistic 5

"94% of enterprises use the cloud, contributing significantly to the industry’s revenue."

Statistic 6

"Most businesses save at least 15% by shifting their controls to a cloud cost management system."

Statistic 7

"Flexera State of the Cloud found that 95% of respondents are using at least one public or private cloud."

Statistic 8

"13.8% of organizations spend more than 1 million dollars per year on Public Cloud."

Statistic 9

"According to Gartner, only 20% global enterprises will remain without a cloud service by 2021."

Statistic 10

"As of 2021, Cloud SaaS workloads will make up around 75% of total workloads."

Statistic 11

"Research from IDC shows that spending on public cloud services and infrastructure will double by 2023."

Statistic 12

"More than 50% of IT spending will be cloud-based by 2022, according to IDC."

Statistic 13

"83% of organizations reported increased data security after implementing a cloud-based solution."

Statistic 14

"94% of businesses claim that security improved after adopting cloud applications."

Statistic 15

"Public cloud adoption is at a whopping 94%, with AWS leading the way at a market share of 33%."

Statistic 16

"IDC estimates that the five-year compound annual growth rate for the public cloud will be 22.3% by 2023."

In conclusion, the statistics presented clearly highlight the rapid growth and widespread adoption of cloud technologies in the industry. As businesses increasingly shift towards cloud solutions, they are reaping operational and financial benefits, with significant projected increases in cloud spending and market size. The data also emphasizes the importance of efficient cost management for organizations overseeing substantial cloud spending, as well as the positive impact on security and productivity seen by the majority of businesses that have embraced the cloud. With the continued expansion of cloud services and infrastructure, it is evident that cloud computing will remain a critical and dominant force in the IT landscape for the foreseeable future.