Australia’s Cloud Market Set To Double To $2 Billion
Market research company Telsyte has forecast that Australia’s cloud Infrastructure as a Service (IaaS) market will double over the next four years to reach $2 billion by 2024.
In 2019 Australian spending on IaaS totalled $907 million, and it is on track to hit $1 billion in 2020, which would represent an increase of 23%, on the back of investment driven by COVID-19.
Telsyte found that nearly half of Australia’s organisations were looking to increase their spending on cloud infrastructure in 2020, as they work towards becoming more agile and resilient in the face of the uncertain, COVID-19 climate.
Last year the country’s top-six hyperscale clouds – AWS, Azure, IBM, Google, Oracle, and Alibaba Cloud – accounted for 82% of the market. On average, Australian organisations have four different cloud providers, which is typically a combination of hyperscale, Managed Service Provider, hosted, and on-premises.
While only 24% of Australian organisations used a third party to manage cloud services, a further 31% said that they intended to acquire this service in 2020.