Global IT spending – on software, devices, IT services and data centre systems – continues to grow at healthy rates. But one of the fastest-growing components is cloud computing, and in particular Infrastructure as a Service (IaaS) – an area that continues to offer tremendous potential for investors – Munro Partners CIO Nick Griffin writes for Investor Daily.
While IT spending as a whole has reached US$2.2 trillion a year, the cloud ecosystem is taking up a bigger and bigger proportion of this – currently around US$200 billion a year and growing fast.
Virtually every big corporate around the world is migrating to the cloud via companies such as Google (Alphabet), Microsoft, Amazon and Alibaba.
These companies offer scalable, commoditised computing power – that is, Infrastructure as a Service – to corporates all over the world, through their data centres.
Furthermore, their scale allows them to reduce costs which helps accelerate the transition to the cloud.
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