Worldwide Competitive Cloud Application Platforms Software Forecast, 2023–2027

Worldwide Competitive Cloud Application Platforms Software Forecast, 2023–2027

This IDC study provides the worldwide cloud application platforms market forecast for 2023–2027. It also presents regional and deployment-based forecasts. This market is tracked in IDC's Worldwide Semiannual Public Cloud Services Tracker."The competitive cloud application platforms software market delivered a combined 16.1% annual growth in 2022 for on-premises and cloud consumption models," said Brijesh Kumar, senior research analyst, Cloud Application Development Platforms at IDC. "With the dawn of generative AI, there will be an even greater need for organizations to reliably, securely, and cost-effectively deploy applications to a variety of modern cloud infrastructures, including public cloud, multicloud, hybrid cloud, and private cloud. IDC expects the cloud application platforms market to maintain a healthy growth rate over the five-year forecast period — particularly with cloud consumption models, which are forecast to grow at a CAGR of 30%."

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