Global IT spending will be 3% more this year compared to last year said Gartner last week. They put the increase down to cloud computing, consulting and services. Global IT spend is predicted to be around $3.6trillion this year. This figure surpasses the 2.5% growth that Gartner predicted last quarter and the continued high growth negates some predictions that IT spend may be slowing. A large part of this has been the growth over the last year of cloud computing. IT spend on the public cloud has grown from $91billion in 2011 to $109billion in 2012 and Gartner predicts this figure will have almost doubled by 2016, predicted at $207billion.
Cloud investment is still a relatively small percentage of overall IT spend but it represents one of the fastest growing areas, with an annual growth rate of around 18%. Diving further into the findings Gartner say that software-as-a-service and infrastructure-as-a-service are the two fastest growing areas of enterprise cloud investment.
This seems to confirm the findings of VC firm, North Bridge last month that overall trust in cloud solutions was increasing. Half of respondents were confident of using cloud solutions for central business operations. The survey also reiterates the growth in SaaS with 88% of respondants saying they planned to have a SaaS solution in place within 5 years.
So what does it mean for me ? Chances are your competitors are thinking about cloud computing, so you should be too with the hype around the cloud seemingly now reflected in the facts and figures.