Companies of all stripes—bold first movers and wary followers—are moving to the cloud even faster than they expected to. In Bain’s 2014 survey, companies said they expected to have one-third of their workloads running on cloud services by 2018. They hit that mark a year early and kept going. When we asked again in 2018, executives said they expect to pass the 50% mark by the end of 2022.
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.