US Accounts for 47% of Global Public Cloud Hosting Revenue
Recent data has shown that the United States leads in Public Cloud Hosting and accounted for 47.21 percent of the global revenue.
According to the report, out of the total $95.47 billion revenue expected to be made in 2020 in Public Cloud Hosting, the US revenue was estimated at $45.08 billion.
China came second with $5.45 billion or 5.7 billion of the total share.
Public Cloud Hosting is dominated by five major countries. The players account for a massive 63.1 percent of the total global revenue. The remaining part of the world controls a revenue of $35.32 billion.
In the next five years, the revenue from the Public Hosting Sector is set to grow 155.96 percent to $244.37 billion, from this year’s expected returns. By next year the revenue will stand at $141.41 billion.
The revenue projection comes in the wake of a pandemic that has impacted various sectors.
According to the research report: “Just like other sectors, the coronavirus crisis had a significant impact on the Information Technology sector. The crisis crippled global economies due to the imposed lockdowns. Under the IT sector, the pandemic has caused disruptions in the electronics value chain posing a risk of product price hikes. At the same time, the disruption accelerated remote working culture and focus on evaluating the end-to-end value chain. Amid the health crisis, work environments that can be operated remotely are likely to benefit from cloud technology for a long period.”
Rapidly increasing digital transformation among different industries is expected to spur growth.