Based on a research, the Asia-Pacific market for public cloud services is expected to grow to $153.6 billion by 2026.
As per IANS, IDC expects the Asia/Pacific excluding Japan (APeJ) Public Cloud market will grow at a year-over-year (YoY) rate in 2022 at 25.9 per cent in comparison to 36.3 per cent in 2021, as cloud migration continues to accelerate.
However, the YoY growth rates will decrease, starting in 2023 with a YoY growth of 24.1% and ending in 2026 with a YoY growth of 21.4%.
"Organisations in the APeJ region are progressing their cloud adoption along the advancements offered by the cloud market segment. Organisations will continue to invest in these adjacent technologies to enhance their customer experience and business outcomes," said Shahnawas Latiff, Research Manager, Cloud Services, IDC Asia/Pacific.
By 2026, Infrastructure as a Service (IaaS) will account for 42.7% of the Asia/Pacific Public Cloud services market, with a market value of $65.6 billion.
Platform as a Service (PaaS) will account for $29.8 billion in market revenue, or 19.4% of the total.
According to the analysis, Software as a Service (SaaS) will nearly double in size from $22.9 billion in 2021 to $58.1 billion in 2026, accounting for 37.8% of the whole Asia/Pacific Public Cloud market.
"SaaS growth is attributed to organisations who want to streamline their operations and process by transforming their applications into scalable modules," it added.