IDC has released a forecast that predicts a 23.2 percent increase in cloud computing spending for 2018. Total cloud revenue could reach $160 billion for the year and hit $277 billion by 2021. Two-thirds of this year's public cloud spending, or around $100 billion, will go to software as a service (SaaS). Enterprise resource planning (ERP) and customer relationship management (CRM) software will see the highest demand.
Interestingly, just three industries — discrete manufacturing, professional services and banking — will account for a third of all U.S. public cloud spending.