The public cloud services market in the mature Asia-Pacific (APAC) region — Australia, New Zealand, Singapore and South Korea — is forecast to grow 17.7 percent in 2017 to total US$10 billion, up from US$8.5 billion in 2016, according to Gartner.
By 2019, Gartner predicts that total public cloud services spending in these countries will rise to US$13.6 billion.
Public cloud services are shared, meterable, elastic and scalable multi-tenanted IT offerings delivered as a subscription-based service to external customers using internet technologies.
The highest growth for the cloud services market comes from software as a service (SaaS) with a 28.5 percent increase in 2017, and platform as a service (PaaS) growing 26.7 percent this year.
“The increase in SaaS and PaaS are indicators that migration of application and workloads from on premises data centers to the cloud, as well as development of cloud ready and cloud native applications, are fueling growth in the cloud space. Software vendors will continue to shift investments from on-premises license-based software to cloud-based offerings,” said Sid Nag, Research Director of Gartner.