Spending on public cloud services and infrastructure is expected to grow 23% this year, to $160 billion, according to research firm IDC. Analysts at IDC predict the discrete manufacturing, professional services, and banking industries will spend the most on public cloud services in 2018. They believe that spending will slow a bit through 2021 but still achieve a 22% annualized growth rate over the period spanning from 2016 to 2021. The firm sees China accelerating its public-cloud spending the most over that five year span, a trend that’s already started to play out and benefit Alibaba Group Holding Ltd. . “Digital transformation is driving multi-cloud and hybrid environments for enterprises to create a more agile and cost-effective IT environment in Asia/Pacific,” IDC research manager Ashutosh Bisht said in a release.
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