Public-cloud services will grow at a compounded annual rate of 22 percent between 2015 and 2020, reaching $236 billion, research firm Forrester said in a note last week.
“Public cloud services are the biggest disruption in the tech market in the past 15 years — and adoption is accelerating,” the Forrester report said.
That cloud growth total is 23 percent higher than Forrester forecasted in 2014, with the increase attributable to increases in demand for all three major forms of cloud computing: Infrastructure as a Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS). Each involves accessing computing resources over the internet rather than installing them on the premises.
That said, Forrester forecasts continued use of on-prem servers and software through 2020 and beyond.