According to Gartner, inflation and rising cloud costs mean companies have less buying power. Find out why in CIO Dive via Matt Ashare. GartnerIO
Spending on public cloud is expected to hit $591 billion next year, up 20.7% from this year’s $490 billion, Gartner forecasted.
At the center of the macroeconomic storm, cloud looms large as both an area for increased savings and spending, according to Nag. On one side of the equation, the cost of cloud services and tech talent have gone up, Nag said. On the other, the inflation rate, whichheading into next year, has outpaced the 5.1% rate at which IT budgets are expected to grow.
In contrast, cloud application infrastructure services, or PaaS, and software services will experience more modest growth of 23.3% and 16.8% respectively.
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