Gartner just came out with a forecast that 2023 worldwide public cloud spend will grow 20.7% which is higher than their 18.8% growth forecast for 2022.

“Current inflationary pressures and macroeconomic conditions are having a push and pull effect on cloud spending,” said Sid Nag, Vice President Analyst at Gartner. “Cloud computing will continue to be a bastion of safety and innovation, supporting growth during uncertain times due to its agile, elastic and scalable nature.”

Some segments are forecast to grow more than others:

  • IaaS – 29.8% yoy growth
  • PaaS – 23.2% yoy growth
  • SaaS – 16.8% yoy growth