In 2020, 35 percent of respondents from a global survey state that their organization is spending between one million U.S. dollars and ten million U.S. dollars on infrastructure as a service (IaaS) annually. As spending on cloud increases, so does the need for practices that focus on managing cloud spend. The practice of the FinOps, or Cloud Financial Management, is supposed to adress this need.

Global cloud security spending skyrocketed over the past years, increasing from just 595 million U.S. dollars in 2020 to over 5.6 billion U.S. dollars in 2023. By 2024, cloud security spending is forecast to reach nearly seven billion U.S. dollars.

In 2020, public cloud infrastructure spending worldwide is expected to reach 52.4 billion U.S. dollars as public cloud infrastructure continues to expand. Private cloud infrastructure spending is estimated to be roughly half of that amount with spendings projected to reach 21 billion U.S. dollars.

Between January and September 2020, cloud spend on serverless by companies in the travel and hospitality vertical increased by **** percent. In 2020, this sector was severely affected by COVID-19. Accordingly, overall cloud spend was **** percent lower by September 2020 than it was in January.

Cloud Security Statistics: Cloud computing can bring many benefits to companies. However, they are also susceptible to being ruined because of the inability to ensure the proper security of information and privacy protections when using cloud computing. This in turn results in higher costs and potential losses to businesses. We will explore more details regarding Cloud Security Statistics in this report. Cloud adoption has risen dramatically over the last few years. Although many organizations were already in the cloud the COVID-19 outbreak has helped accelerate this transition. With the widespread use of remote work, organizations are required to provide support and essential services to their remote workforce. In the end, more than 90% of companies employ some form of cloud-based infrastructure. In addition, more than three-quarters (76 percent) are using multi-cloud deployments made up of at least two cloud service providers. These cloud environments host crucial applications for business and also protect sensitive customer and company information. With the shift to cloud computing comes an increased necessity to collect Cloud Security Statistics. Cloud-hosted applications need to be secured against attacks and cloud-hosted information must be secured against unauthorized access as per the applicable laws. Cloud environments are in a significant way from the on-prem infrastructure this means that the traditional security tools and methods don't always work when working in the cloud. In the end, many companies are confronted with major issues when it comes to securing their cloud-based infrastructure. Editor’s Choice 60% of global corporate data are stored on the cloud. 94% of businesses globally use one or more cloud computing services. It is estimated that the global Cloud Security Statistics market is projected to expand from $480 billion in 2022 to $2.297 trillion by 2032. With 32 percent, Amazon AWS owns the largest market share in cloud computing. 39% of businesses said they've been the victim of data breaches in their cloud environments. The amount of public money spent on cloud computing services is forecast to hit $597.3 billion by 2023. This will increase by 21.7 percent. 92% of companies have embraced a multi-cloud strategy. The market for cloud-based technology is predicted to reach $ 864 billion in 2025. It is expected to grow at an annual rate of 12.8 percent per year. Global storage of data will be greater than 200 Zettabytes of data by 2025. In 2025, more than 100 zettabytes of data are expected to remain in cloud storage. (Cloudwards) 89% of businesses have a multi-cloud strategy. (Flexera) 71 percent of Americans use cloud storage such as Dropbox as well as iCloud. (Statista) 48% of data from companies is stored in the cloud. (Panda Security) The market for cloud computing by 2020 is $371.4 billion. (Globe Newswire) Spending by end-users worldwide on public cloud services is expected to increase by 23.1 percent in 2021. (Gartner) With 83% of cloud users, security is the most frequent issue in cloud adoption. (Cloudwards) 52% of businesses want cloud-based solutions that include security tools. (Cloudwards)

The compute platforms segment is forecast to have the highest share of the cloud IT infrastructure market spending worldwide in 2020 with **** billion U.S. dollars, a share just over ** percent. Storage platforms is the second largest segment with **** billion U.S. dollars in spending. The ethernet switch segment is good for *** billion U.S. dollars.

In 2024, enterprise spending on cloud infrastructure services amounted to *** billion U.S. dollars, a growth of ** billion U.S. dollars compared to the previous year. The growing market for cloud infrastructure services is driven by organizations' demand for modern networking, storage, and databases solutions. Increased spending on cloud services, mainly on platform as a service The platform as a service (PaaS) segment, which includes analytics, database, and internet of things (IoT) has the highest growth rate within the cloud infrastructure services market. The managed private cloud services share declined in comparison. Infrastructure as a service (IaaS) remained relatively steady, with companies like Amazon Web Services and Microsoft dominating the market. However, software as a service (SaaS) is not included, which itself continues to experience growth in end-user spending worldwide. Data center spending declined in 2020 Enterprise spending on data center hardware and software, on the other hand, began to slightly decline after several years of steady growth. Data center hardware and software encompasses spending on servers, networking, storage, and security software. Because data centers store proprietary or sensitive data, sites are secured by specific software. This includes splitting networks into security zones, for example. Other methods for ensuring security are using tools to scan applications and code before deployment to spot malware or vulnerabilities.

In 2020, respondents report that 30 percent of cloud spend is wasted. Due to this finding, many organizations consider cloud cost management a top priority.

In 2019, spending on public cloud services in the Asia Pacific region reached just under 26 billion U.S. dollars. This figure was predicted to increase in the following year.

Latin America Data Center Construction Market size was valued at USD 12.35 Billion in 2024 and is projected to reach USD 21.79 Billion by 2032, growing at a CAGR of 7.36% from 2026 to 2032.Key Market DriversDigital Transformation Acceleration: Latin America's rapid digital transformation is driving data center expansion, with digital activities accelerating by 30% since 2020 and firms boosting technology spending by 65% to support cloud migration and digital operations. Between 2022 and 2024, data traffic in Brazil increased by 40% per year, illustrating the growing necessity for scalable, high-performance infrastructure. This growth is being driven by rising cloud use, the demand for reliable data storage, and an increased reliance on digital services across industries.Cloud Computing Adoption: The rapid adoption of cloud computing is driving data center growth in Latin America, with cloud service adoption increasing at a 27.5% annual rate since 2021 and public cloud spending estimated to reach $16.8 billion in 2025. In Mexico, more than 76% of businesses have moved to the cloud, increasing demand for local data center capacity. This expansion is being driven by the need for scalable infrastructure, enhanced data security, and lower IT costs as businesses migrate to cloud-based solutions for efficiency and digital competitiveness.Expanding Internet Penetration: Rising internet penetration in Latin America is propelling data center growth, with regional connectivity rising from 68.6% to 76.8% between 2020 and 2024. Since 2022, mobile broadband in Argentina has grown by 28% each year, while data traffic in Peru increased by 53% in 2023, illustrating the growing need for data storage and processing infrastructure. This need is being driven by the growth of digital services, raised increased mobile usage, and the need for more rapid and more dependable network capabilities to accommodate an increasingly connected population.

In 2023, spending on IT services amounted to around *** trillion U.S. dollars worldwide. And in 2024 spending came up to **** trillion U.S. dollars. IT services market The IT services market encompasses a range of offerings that assist enterprises in implementing, managing, and operating a wide variety of systems, software, and equipment that are used in modern IT environments. Some of the market’s major sub-segments are managed services, which accounted for over *** billion U.S. dollars in 2020, and Software-as-a-service (SaaS), which was forecasted to account for over *** billion dollars in 2020. IT services are one of the fastest growing segments in the overarching IT industry, trailing only enterprise software in terms of year-over-year growth. Developments in the market Perhaps one of the most exciting developments in IT services in recent years has been the growth of cloud computing. Cloud computing describes the use of networks of remote servers - usually accessed over the Internet - to store, manage, and process data. As a segment of IT services, cloud computing generates billions of dollars in revenue annually and is showing few signs of slowing down.

Between January and September 2020, cloud spend on analytics by companies in the information technology (IT) vertical increased by **** percent. In general, total cloud spend of IT organizations remained relatively flat until a **** percent increase in May. The summer months afterwards were marked by a steady decrease in cloud spend.

The New York Data Center Market size was valued at USD 8.1 Billion in 2024 and is expected to reach USD 18.6 Billion by 2032, growing at a CAGR of 10.9% from 2026 to 2032.

Key Market Drivers

• Rising Cloud Service Adoption: Rising cloud service adoption is propelling the New York Data Center Market, creating a demand for scalable and high-performance equipment. State agencies increased cloud use by 47% between 2020 and 2023, with public cloud spending exceeding $189 million in 2023. This increase is driving organizations to colocation and hyperscale data centers for more efficient storage, computation, and security. The demand for edge data centers is increasing to serve low-latency applications and 5G networks.

• Renewable Energy Initiative: Renewable energy initiatives are boosting the New York Data Center Market, by emphasizing sustainable infrastructure. The state’s Climate Leadership and Community Protection Act requires 70% renewable power by 2030, attracting environmentally conscious data center operators.

The APAC SSD Caching Market size was valued at USD 17832.56 Million in 2024 and is projected to reach USD 31803.97 Million by 2032, growing at a CAGR of 8% from 2026 to 2032.APAC SSD Caching Market DynamicsThe key market dynamics that are shaping the APAC SSD caching market include:Key Market DriversRapid Digitalization and Data Generation: The exponential growth in data generated by businesses, individuals, and IoT devices is creating a need for faster, more efficient storage solutions. SSD caching plays a crucial role in enhancing the performance of storage systems, especially when handling large datasets, which are increasingly common across industries in APAC. According to the Asia Pacific Information Superhighway (AP-IS), the total data generated in the Asia Pacific region grew by 74% from 2020 to 2023.Rise of Cloud Computing and Edge Deployments: The rapid expansion of cloud computing and data centers across the APAC region is fueling demand for high-performance storage solutions like SSD caching. As data centers strive to support high-speed data access and large volumes of transactions, SSD caching offers a vital solution for improving storage performance. A joint study by the Asia Cloud Computing Association and the Asian Development Bank found that cloud infrastructure spending in APAC grew by 35% from 2020 to 2023.Demand for High-Performance Computing: The region’s rising need for high-performance computing (HPC) solutions is also driving the adoption of SSD caching. In industries requiring rapid data processing, SSD caching provides the speed and efficiency necessary to meet the demands of modern data-driven applications and services. The Top500 organization's data shows that the number of supercomputers installed in the Asia Pacific region (excluding Japan) grew by 42% from 2020 to 2023.

Snapshot img { margin: 10px !important; } Overview of the global IT spending in cold chain logistics market

According to the market research analyst at Technavio, the global IT spending in cold chain logistics market will grow steadily and post a CAGR of around 8% by 2020. The increasing wastage of temperature sensitive food, vaccine, and other products will lead to an augmented demand for an effective management system for temperature sensitive products. The majority of the cold chain storage lack adequate temperature management systems and do not maintain the desired temperature level as per regulatory guidelines, which leads to increased wastage of temperature-sensitive drugs and vaccines. Also, food wastage causes critical damage to the environment due to inadequate waste disposal methodologies. This has compelled manufacturers to invest in technologies, such as smart refrigerator system powered by IoT (internet of things), analytics, and cloud computing solutions. Also, perishable logistics are specifically designed to manage the temperature sensitive products in fluctuating climatic conditions and will drive this market’s growth during the estimated period.

The recent emergence of IoT will help in the growth of the market. The installation of smart connected devices and sensors in cold storage facilities and movable containers captures will send real-time temperature data to the SCM (supply chain management) management team. With the help of IoT technology, high variations in temperature can be detected at early stages due to system malfunctions and firms can take necessary steps to avoid damage to the products stored in cold storage facilities. IoT-enabled devices and applications will be implemented to track the movement of refrigerated containers also known as reefer on cargo ships.

Competitive landscape and key vendors

There is fierce completion in the market, and the players compete to provide IT solutions that have added features and competitive pricing. Many leading vendors have launched cloud-based supply chain and logistics solution to maximize their market shares. They will also have to invest in developing unique and customized smart connected devices to support industrial IoT and building capabilities to maintain exclusivity in the market.

The key vendors in the market are -

Accenture
AT&T
Cisco
SAP
Oracle

Other prominent vendors in the market are BT9, Gemalto, IBM, Infosys, ORBCOMM, Siemens, TCS, Tech Mahindra, and Vitria.

Segmentation based on technology spending and analysis of the IT spending in cold chain logistics market

Software spending
IT services spending
Hardware spending

Market researchers predict that the software spending segment will dominate the market and post a CAGR of more than 8% by 2020. The increasing implementation of on-premise cloud computing solutions will be one of the primary factors contributing to the growth of the market. These solutions include advanced IT innovations such as predictive analytics, IoT enabled applications, and M2M applications in a cloud-based IT architecture.

Segmentation based on geography and analysis of the IT spending in cold chain logistics market

Americas
APAC
EMEA

During 2015, the Americas dominated the market by accounting for approximately 48% of the total market share. The robust ICT infrastructure and superior connectivity to global locations will the key enablers of high IT spending in the region. Cold chain services providers will need to follow regulatory guidelines while implementing IT solutions for quality assurance and safety and this will increase the demand for IT solutions like IT security and smart sensors, which adhere to the such guidelines.

Key questions answered in the report include

What will the market size and the growth rate be in 2020?
What are the key factors driving global IT spending in cold chain logistics market?
What are the key market trends impacting the growth of global IT spending in cold chain logistics market?
What are the challenges to market growth?
Who are the key vendors in global IT spending in cold chain logistics market?
What are the market opportunities and threats faced by the vendors in global IT spending in cold chain logistics market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of global IT spending in cold chain logistics market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

Global Food and Beverage Cold Chain Logistics Market 2016-2020
Cold Chain Logistics Market in India 2015-2019
Cold Chain Logistics Market in North America 2015-2019
Global Cold Chain Logistics for Pharmaceuticals Market 2015-2019
Cold Chain Market in Europe 2015-2019

Cold chain refers to an incessant series of warehouse distribution and storage ac

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The global revenue in the public cloud market was forecast to continuously increase between 2024 and 2029 by in total * trillion U.S. dollars (+****** percent). After the ninth consecutive increasing year, the revenue is estimated to reach *** trillion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the public cloud market was continuously increasing over the past years.Find more information concerning Belgium and Poland. The Statista Market Insights cover a broad range of additional markets.

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In 2021, global information and communication technology (ICT) spending is forecast to reach approximately 5.3 trillion U.S. dollars. In 2020, spending remained relatively flat as a result of the COVID-19 pandemic.

New technologies emerge as the largest spending category Notably, new technologies are projected to eclipse the one trillion U.S. dollar mark in 2021. These include artificial intelligence (AI), Internet of Things (IoT), augmented reality (AR) and virtual reality (VR), but also robotics. Together, they are forecast to take a larger share of the market in the future. Specifically, new technologies are forecast to represent over 25 percent of ICT spending within the next five to ten years. Cost savings enabled through automation and cloud make it possible to direct more spending towards new technologies.

How do new technologies drive economic progress? The overall impact of next-generation technologies on the global economy is expected to be positive as they can fuel trade growth while reducing transaction costs. For example, AI can automate many different processes or may be leveraged for logistics purposes to become more efficient by planning routes based on current road conditions. At the same time, IoT has a wide variety of different use cases in many verticals, including tracking shipments in real time, thereby making delivery services more efficient. In general, if utilized properly, these technologies lead to a rapid return on investment while modernizing how goods are made and traded globally.

New Zealand ICT Market size was valued at $ 13.2 Bn in 2024 and is expected to reach $ 22.5 Bn by 2032, growing at a CAGR of 6.9% from 2026 to 2032.New Zealand ICT Market DynamicsThe key market dynamics that are shaping the New Zealand ICT market include:Key Market Drivers:Government Digital Transformation Initiatives: The New Zealand government has made significant investments in digital infrastructure and services. In accordance with Stats NZ, government spending on ICT will reach USD 2.1 billion in 2023, a 14% rise from the previous year. The Digital Public Service initiative aspires to have 80% of government functions entirely digitalized.Rising Cloud Computing Adoption: New Zealand firms are increasingly turning to cloud-based solutions. Similar to the New Zealand Cloud Computing Policy, cloud use among organizations grew from 53% in 2020 to 76% in 2023. This change is producing a cloud services sector of USD 3.8 billion, which is increasing at annual rate.