Gartner: Public cloud end-user spending forecast to hit $597.3B

Businesses will likely spend money on using the cloud for artificial intelligence and other new ways to provide positive customer experiences.

An April forecast from Gartner expects public cloud service end user spending to grow 21.7% to total $597.3 billion in 2023, up from $491 billion in 2022. Emerging technologies like generative AI, Web3 and the metaverse (or virtual reality) are among the factors driving increased use of public cloud services, Gartner found.

Gartner sees a smooth climb to 2026, by which time they predict 75% of organizations will use a digital transformation model based on the cloud.

Public cloud spending growth broken down by sector

Gartner broke public cloud spending down into several sectors.

• Infrastructure-as-a-service...