Cloud Impact Study Part 2

As a result of the global pandemic, Gartner predicts IT spending will decline by 8 percent this year, dropping from $3.7T in 2019 to $3.4T. Despite this, enterprises’ spending on cloud computing continues to grow, defying the pandemic-driven economic downturn with the analyst firm predicting worldwide public cloud revenue will grow 6.8 percent in 2020. As organizations increasingly move workloads and applications to the cloud; they are also investing in cloud security. Gartner further predicts that cloud security revenues will see a 33 percent yearon-year growth during 2020 – the only area of security enjoying double-digit growth this year