Virtustream Blog

Cloud Forecasting: Top Takeaways from 2018 Market Analyst Research

in Cloud, Technology

Across every industry, enterprises are looking to the cloud as the springboard for digital transformation. With cloud spending on the rise, so too are the number of cloud technology vendors looking to capture their piece of this considerable pie. According to the latest findings from IDC research, total spending on cloud IT infrastructure will reach $52.3B in 2018, with 10.8 percent growth expected over the next five years.

Industry research firms have responded by ramping up their focus on the cloud sector. Today, every major firm has at least one team dedicated to cloud research and analysis. As a result, there are new reports coming out every week to help enterprises navigate the growing complexity of the cloud services market and stay on top of the latest strategies for making cloud technology work for their business.

To help you make sense of it all, here’s a look at three key pieces of research published by cloud analysts so far in 2018:

IDC: Worldwide Quarterly Cloud IT Infrastructure Tracker (September 2018)

Lots of tech industry analyst firms publish forecasts on the cloud market these days, but IDC’s Worldwide Cloud IT Infrastructure Tracker offers a uniquely powerful lens. Published quarterly, the research gives decision makers a comprehensive look into the global market for cloud IT infrastructure services.

In the latest forecast, IDC found that cloud IT infrastructure is now a $62+ billion market, growing at a rate of 31 percent year-over-year. What’s more, combined spending on private and public clouds now represents 48.5 percent of worldwide spending on IT infrastructure overall – up from 43.5 percent last year.

According to IDC Research Director Natalya Yezhkova, "As share of cloud environments in the overall spending on IT infrastructure continues to climb and approaches 50 percent, it is evident that cloud, which once used to be an emerging sector of the IT infrastructure industry, is now the norm. One of the tasks for enterprises now is not only to decide on what cloud resources to use but, actually, how to manage multiple cloud resources.”

Forrester: Multi-Cloud Arises From Changing Cloud Priorities (July 2018)

With 20+ analysts dedicated to the cloud market, Forrester Research has some of the best cloud coverage you can find anywhere. That’s why we decided to partner with the firm earlier this year on research into today’s top enterprise cloud strategies.

Outlined in the report, Multi-Cloud Arises From Changing Cloud Priorities, the research explores shifting business priorities in the enterprise and how they are driving enterprises to adopt multi-cloud strategies. The research found that 86 percent of enterprises now describe their cloud strategy as multi-cloud, with performance and innovation outpacing cost savings as the top measures of success.

What’s more, researchers found that nearly half of the enterprises surveyed are spending at least $50 million on cloud technology and services annually, and that 60 percent of enterprises are actively moving (or have already moved) mission-critical applications to the cloud – both signs of maturing technology.

Gartner Magic Quadrant for Public Cloud Storage Services, Worldwide (July 2018)

When it comes to analyst reports, scarce few come close to matching the influence of the Gartner Magic Quadrant (MQ). For cloud decision makers, there are six to choose between – we recommend the Public Cloud Storage Services Worldwide MQ, which is by far the most encompassing and informative.

The latest report praises Virtustream for its credibility amongst enterprises and ability to deliver attractive and predictable pricing options. What’s more, Gartner highlights the growing value of Virtustream’s strategic alignment with Dell EMC. According to the findings, Virtustream Storage Cloud is “uniquely differentiated as the only public cloud storage offering that is co-engineered, co-sold and commonly supported with Dell EMC solutions.”

Ready to learn more about how Virtustream can help? Connect with a cloud expert today.