Global Cloud Professional Services Space to Reach $30B by 2018

By Rory Lidstone February 27, 2014

The cloud market saw growth varying from solid to incredible last year, depending on the segment. For example, Gartner predicted that global public cloud services alone would jump to $131 billion last year, up from $111 billion in 2012. What’s really incredible, though, is that some areas of the cloud space are expected to continue this level of growth this year and beyond.

In particular, new data presented in Technology Business Research’s Cloud Professional Services Customer Report states that demand for cloud professional services “continues to escalate” with more than 74 percent of enterprise clients purchasing or considering the purchase of such services. By comparison, only 59 percent of enterprise clients did so in 2011.

Along with this general increased interest in cloud professional services also comes a shift in the nature of this interest. Indeed, it seems that the professional services demands of clients have shifted of late toward a need for assistance in system integration and implementation.

Regardless of its focus, however, TBR claims that the cloud professional services market revenue increased 50.4 percent in 2013 to reach $17 billion, up from $5 billion in 2010. More importantly, the market will maintain a compound annual growth rate of 12 percent over the next few years, taking it to $30 billion in 2018. Leading this growth will be emerging markets, namely the Asia Pacific region, which require the use of cloud professional services more than established markets like North America.

“Emerging markets require the assistance of cloud professional services to maximize the benefits of cloud technologies due to their inability to maintain cloud services on their own. The report indicates budgets for cloud professional services are highest in APAC,” said TBR analyst Cassandra Mooshian in a statement.

The Cloud Professional Services Customer Report gathered its data from a survey of 900 end users of cloud professional services across North America, Europe and Asia.

Edited by Cassandra Tucker