The digital transformation driven by Artificial Intelligence (AI) is leading to a significant increase in investments in cloud infrastructure. According to the latest report from IDC, titled Worldwide Quarterly Enterprise Infrastructure Tracker: Buyer and Cloud Deployment, it is projected that spending on cloud infrastructures in Europe will increase by 19.3% in 2024, reaching $129.9 billion.
The emergence of AI and the improvements that this technology brings have prompted companies to ramp up their investment in cloud infrastructures. The ability to process and store large volumes of data is crucial for the operation of AI applications, which is driving this notable expansion of the cloud market.
Trends in Cloud Spending for 2024
The IDC report indicates that while spending on cloud infrastructures will grow this year, the investment in shared cloud infrastructures will experience an even larger increase of 21.6%, reaching $95.3 billion. On the other hand, investment in non-cloud infrastructures will see a slight decrease of 1.4%, reflecting the persistent challenges in that market segment.
Long-term projections from IDC foresee an annual growth of 12.8% in spending on cloud infrastructures, reaching $199.1 billion in 2028. Out of this total spending, 71.8%, or $143 billion, will be allocated to shared cloud infrastructures. Additionally, it is anticipated that investment in computing and data storage will increase by 13.1% annually, reaching $188.5 billion in the same period.
Drivers of Growth
The primary driver behind this increase in cloud spending is the need to support large AI projects and high-performance computing. Companies are increasingly committed to managing and analyzing large volumes of data, driving the demand for cloud solutions that can handle these demanding workloads.
Opportunities in the Sector
For professionals in the technology sector, the Madrid Tech Show represents a key opportunity to learn about the latest trends and developments in the cloud field. This event brings together two of the most relevant fairs in the sector: Cloud Expo Europe and Data Centre World. Participation in these meetings provides a platform to connect with leading companies in the sector and explore innovations in cloud infrastructure.
Conclusion
The sustained growth in spending on cloud infrastructures reflects a clear trend towards mass adoption of cloud solutions, driven primarily by the evolution of Artificial Intelligence and the need to process large volumes of data. With a robust growth projection for the coming years, the cloud sector continues to consolidate as a key piece in the technological strategy of companies globally.
via: cloud Expo