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Behind The Numbers: Synergy Research Breaks Down $110B Cloud Market

The researcher says 2015 was the year the cloud became mainstream, with public cloud services far and away the fastest growing segment of the overall market.

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Cloud in 2015

Companies selling cloud services and infrastructure raked in a whopping $110 billion during the four fiscal quarters (Q4 2014 through Q3 2015) that ended last September, according to Synergy Research Group.

Those sales amount to highly respectable year-over-year industry growth of 28 percent.

But breaking the numbers down into six services and infrastructure segments, as Reno, Nev.-based Synergy has done, is even more revealing -- while more than half the cloud spending still goes toward purchasing hardware and software, service offerings are growing faster, rapidly closing the gap between segments.

"In many ways 2015 was the year when cloud became mainstream. Across a wide range of cloud applications and services we have seen that usage has now passed well beyond the early adopter phase and barriers to adoption continue to diminish," Synergy Research Group founder and Chief Analyst Jeremy Duke stated in the report.

"Cloud technologies are now generating massive revenues and high growth rates that will continue long into the future, making this an exciting time for IT vendors and service providers that focus on cloud."

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