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As more businesses migrate to the cloud, Microsoft Azure is locked in a heated competition with Amazon Web Services (AWS) and Google Cloud Platform (GCP) to capture market share. HG Insights collects data on nearly 350,000 businesses using Azure cloud computing solutions. In 2023, Microsoft’s Intelligent Cloud revenue grew to $96.2 billion — a 17.7% year-over-year increase from 2022. We wanted to provide an overview and share some insights into how this revenue is generated.
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HG projects that global spending on IT services will reach $1.6 trillion in 2023, about 43% of all IT spend. According to Gartner, much of the expansion in this segment is driven by Infrastructure-as-a-service (IaaS), which they project will grow by over 30% this year.
30% GROWTH
GARTNER
“For the first time, price is a key driver of increased spend for cloud services segments, rather than just increased usage.”
We break Services down into nine categories and their subcategories:
9 Service Categories:
Global IT Services Vendors
In the following pages, we will dig into five especially interesting subcategories:
The “as-a-service” model revolutionized the field of IT, with Cloud Services now making up nearly one-third of all IT services spend in 2023. The three most popular offerings are SaaS, IaaS and PaaS – however, it’s worth noting that these are not mutually exclusive, with many SMBs and mid-market businesses using more than one and most enterprise companies making use of all three.
The AMER region spends the most on Cloud Services, making up about 42.7% of all global spend.
APAC and EMEA account for 33.4% and 23.8%, respectively.
Cloud Service Vendors
INSIGHTS
HG projects total global spending on Business Process Outsourcing (BPO) will reach $98.7 billion in 2023, with 42.1% from AMER, 24.6% from EMEA and 33.3% from APAC. The largest subcategories are CRM BPO and Processing Services, on which buyers will spend $22.8 billion and $21.8 billion, respectively.
INSIGHTS
The Internet of Things is a growing ecosystem of physical items that are connected to the internet for a specific purpose. As this chart shows, four key areas of IoT are energy, factory, health, and transportation, but there are also industry-specific IoT applications. As the number of IoT devices increases, applications must be able to accommodate higher volume workloads.
HG forecasts that total global spend on IoT services will reach $70.8 billion in 2023 — 42.0% from AMER, 24.7% from EMEA and 33.2% from APAC.
TOP
IOT Vendors
INSIGHTS
The Infrastructure-Led Outsourcing subcategory is wide-ranging, including everything from infrastructure hosting and management to business continuity and hardware integration. HG data projects $175 billion in 2023 global spend in this category, the largest piece by far (56%) coming from Infrastructure Management.
Top Infrastructure-Led
Outsourcing Vendors
Chapter 5
IT Hardware Spend Forecast
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