Cloud services and technology could account for 60% of IT market growth through 2021, and much of that is expected to come from public cloud. Enterprise customers are becoming increasingly comfortable with the security, reliability and flexibility of public cloud, a development that’s proving a powerful tailwind for leading cloud services like Amazon Web Services, Microsoft Azure and Google Cloud. To remain competitive, tech incumbents are learning how to position their goods and services in a mostly public cloud world.
Mark Brinda and Kate Woolley are members of Bain & Company’s Global Technology practice. They are based in the firm’s New York office.
Cloud services and related software and hardware accounted for the majority of IT growth in 2013–17.