IDC: Server and storage price hikes fueled cloud infrastructure growth
Thanks to the mania surrounding AI as well as the impact of inflation, spending on servers and storage for cloud deployments climbed in the first quarter of this year. Looking ahead, cloud infrastructure sales are expected to grow over the next four years while on-premises spending will diminish, reports IDC.
The research firm’s quarterly enterprise infrastructure tracker finds that spending on compute and storage infrastructure products in the first quarter increased 14.9% year over year to $21.5 billion. Spending on cloud infrastructure continues to outpace the non-cloud segment, which declined 0.9% in 1Q23 to $13.8 billion.