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Worldwide public cloud spending to reach $128B this year

Published 07/18/2017, 01:01 PM
© Reuters.  Worldwide public cloud spending to reach $128B this year
IYW
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FXL
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REW
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TECS
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TECL
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IGM
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ROM
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RSPT
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XNTK
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XLK
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VGT
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QTEC
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SKYY
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FTEC
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JHMT
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TCHF
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TECZ
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XITK
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  • Worldwide spending on public cloud services will reach $128B this year and could reach $266B by 2021, according to IDC.
  • The U.S. will account for over 60% of the 2021 revenues with $163B in sales. Western Europe will come second at $52B and Asia/Pacific third at $25B.
  • U.S. industries seeing the fastest cloud service spending growth: professional services, media, retail, and telecom with CAGR ranging from 20.9% to 21.5%.
  • SaaS will account for 60% of public cloud spending in 2021 but IaaS and PaaS will grow faster with CAGRs of 30% and 29.7%, respectively.
  • Cloud ETF: SKYY
  • Broad tech ETFs: XLK, VGT, TECL, FTEC, IYW, ROM, RYT, QTEC, IGM, TECS, FXL, MTK, REW, JHMT, XITK, TECZ, TCHF
  • Now read: Important Charts We're Watching


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