Asia/Pacific whole cloud spending to reach $329.1B by 2027

According to a recent IDC report, Asia/Pacific Whole Cloud Forecast, 202 4 –202 7, the Asia/Pacific Whole Cloud spending is forecasted to grow at a CAGR of 17.3% and reach $329.1 billion by 2027. Asia/Pacific Whole Cloud spending grew at a year-over-year (YoY) rate of 10% in 2023, and IDC expects the market to grow at 23.4% in 2024 as cloud-related spending continues to accelerate.

“Despite last year’s economic challenges, there has been considerable demand for the cloud as it becomes the foundation for innovation and a key enabler for leveraging AI. We anticipate robust investments across hardware, software, professional, and managed services as organizations (including governments) in the region aim to scale their digital economies. A major focus will also be on cloud cost optimization with the outlook to maximize utilization of cloud resources,” says Shouvik Nag, Senior Research Analyst, Cloud Research, IDC Asia/Pacific. IDC