Check it out, folks! IDC predicts that the Public Cloud Services market in this region is gonna blow up! They’re saying it’s gonna reach a whopping US$39.4B in 2023, and then skyrocket to US$83.1B by 2027!
Now, hold on a second, cause let me break it down for you. According to IDC’s Worldwide Semiannual Public Cloud Services Tracker, 2H22, the Asia/Pacific excluding Japan and China (APeJC) public cloud services (PCS) market hit US$32.5 billion in 2022, with a dope YoY growth of 25.3%!
So, here’s the deal. In 2022, the biggest chunk of the PCS market was in the software as a service (SaaS) segment, gobbling up over 60% of the total market share. On the other hand, platform as a service (PaaS) was the smallest segment, accounting for less than 15% of the market. But, here’s the kicker – PaaS had the highest growth rate in 2022, with a mind-blowing YoY growth of 45.1%! And it was all thanks to cool stuff like AI platforms, data management software, and application platforms!
Yo, check it out. The shift to digital business is causing a surge in the consumption of public cloud services. Organizations are realizing the power of PCS in helping them shorten time-to-market, make data-driven decisions, and create interactive customer engagements.
And here’s the kicker – security and compliance ain’t no biggie when it comes to adopting public cloud services! Organizations know about the shared responsibility model and understand that the public cloud can actually be more secure and cost-efficient than on-premises setups.
Yo, here’s some news for you – regulated industries are jumping on the PCS bandwagon like crazy! In the digital banking space, virtual and traditional banks are using PCS to launch their digital banking services while meeting all the requirements from the authorities. So, when it comes to choosing a cloud services provider, you better believe they’re looking for ones that comply with all them global security standards and compliances!
Now, let me give you the lowdown on the top five PCS vendors in APeJC: Amazon Web Services (AWS), Google, Microsoft, Salesforce, and SAP are the big players dominating more than 40% of the market share in 2022. But yo, don’t sleep on the China-based vendors like Alibaba Group and Huawei – they’re focusing on Southeast Asia and going head-to-head with the global players in the IaaS market, while also offering PaaS and SaaS solutions.
Alright, let’s talk about the future for a sec. IDC predicts that the overall PCS market might take a slight hit due to the sluggish global economic condition in 2023. Organizations are gonna be more focused on cost optimization and might be cautious about launching new large-scale cloud projects.
But here’s the thing, automation is gonna be the name of the game! Solutions like serverless computing, robotic process automation (RPA) software, and artificial intelligence/machine learning (AI/ML) tools are gonna be key in streamlining businesses and driving costs down. That’s what Liew Siew Choon, Senior Research Manager at IDC Asia/Pacific, says.
The future is looking bright, my friends! IDC forecasts that the APeJC PCS market size will hit a mind-blowing US$39.4 billion in 2023, with a solid YoY growth of 21.3%. And it’s not stopping there! It’s gonna reach an epic US$83.1 billion in 2027, with a five-year compound annual growth rate (CAGR) of 20.6%!
Yo, you gotta join our second IDC TechTalk Live event! Avneesh Saxena, Group VP for Data & analytics at IDC Asia/Pacific, and Roger Ling, Assoc. VP for Software, Services, and Cloud at IDC Asia/Pacific, are gonna dive deep into the key trends and turning points in the software and IT services market in Asia/Pacific (excluding Japan and China). They’ll be dropping some serious knowledge using useful IDC data and forecasts. So, don’t miss out! Watch the IDC TechTalk Live on August 30th at 2:00 PM – 2:30 PM SGT. Register by hitting up that link right here!
*Asia/Pacific excluding Japan and China
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About IDC Trackers
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About IDC
IDC – the kings of market intelligence, advisory services, and events for the IT, telecommunications, and consumer tech markets! With over 1,300 analysts worldwide, IDC brings you global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. Their analysis and insight help IT professionals, business executives, and investors make fact-based technology decisions to achieve their goals. IDC has been around since 1964 and is a wholly-owned subsidiary of International Data Group (IDG), the alphas of tech media, data, and marketing services. If you wanna learn more, hit up www.idc.com. And don’t forget to follow IDC on Twitter at @IDCAP and LinkedIn. Oh, and subscribe to the IDC Blog for all the industry news and insights!
