Worldwide end-user spending on public cloud services is forecast to grow 20.4% to total $675.4 billion in 2024, up from $561 billion in 2023, according to the latest forecast from Gartner ,Inc
This growth is being driven by generative AI (GenAI) and application modernisation the research firm said.
“The continued growth we expect to see in public cloud spending can be largely attributed t oGenAI due to the continued creation of general-purpose foundation models and the ramp up to delivering GenAI-enabled applications at scale,” said Sid Nag, Vice President Analyst at Gartner. “Because of this continued growth, we expect public cloud end-user spending to eclipse the one trillion dollar mark before the end of this decade.”
All segments of the cloud market are All segments of the cloud market are expected to see growth in 2024.l, as per Gartner.
In India, end-user spending on public cloud services is forecast to grow 30%, to total $11.7 billion in 2024.
Iaa Sis forecast to record the highest end-user spending growth in 2024, Gartner further said.
