Investment in public cloud services in Europe will reach 113,000 million in 2022

The Investment in public cloud services in Europe will reach 113,000 million in 2022 dollars, and according to IDC data it is expected to double by 2025, the year in which it will reach 239,000 million dollars after growing 22% annually in the five-year period from 2021 to 2026. Most of Spending on public cloud services this year in Europe will be on Software as a Service tools, but the segment that will grow the most will be Platform as a Service.

Professional services, banking and discrete manufacturing will be among the sectors that will invest the most in public cloud services in Europe in 2022. In total, they will absorb almost 60% of spending on these types of services. In addition, the sectors that develop around people are adjusting their work policies to normalize teleworking. This means that paying more attention to remote employee access to information will pay more attention to investing in cloud solutions.

The implementation of “digital first” and cloud-based strategies will continue to be very important in spending on public cloud in Europe, which will cause it to grow by 26.4%. As for Russia’s investment in cloud solutions, it is expected to grow by 7.7% in 2022, but since many companies are withdrawing from the country, its growth will be slower than in the rest of Europe.

More and more companies are using cloud services to update and advance their operations. In addition, public cloud service providers are expanding their cloud services to edge locations, also driving investments in the technology. There are many factors, including the war in Ukraine, which is leading organizations and companies from many sectors, including government, to migrate to cloud solutions for security reasons. This is driving the next wave of cloud adoption, taking it to sectors that have not yet embraced the technology.

The public cloud has allowed organizations to focus on their core competencies, while delegating the complexities of owning, operating, and maintaining current IT infrastructure to public cloud service providers. As a consequence, we are seeing an increase in innovation driven by the ability to shift this effort into developing new products and services.

Andrea Minonne, Researcher and Analyst at IDCalso notes that “European companies want to automate their processes, as they are experiencing market difficulties, including supply chain disruption and talent shortages. Companies are increasingly adopting the cloud to create a real-time data analytics foundation that supports business agility and resiliency«.

Related Articles

Leave a Reply

Your email address will not be published.