Synergy Research Group has recently declared 2015 “The Year of the Cloud,” as 2015 featured unprecedented growth in the cloud industry. For the first time, cloud infrastructure and service became the norm in enterprises. The study measure the growth of six different cloud sectors, including Software as a Service (SaaS) and the public cloud.

Between the fourth quarter of 2014 and the third quarter of 2015, total cloud revenue reached $110 billion, according to Synergy. This means that all measured sectors displayed a 28 percent annual growth rate. Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) showed the highest growth rate during 2015 (51%) with private and hybrid cloud services following with a growth rate of 45%. All sectors measured experienced a growth rate of at least 16%. $60 billion was spent on infrastructure hardware and software, while $30 billion was spent on the development of the private cloud. Investments also returned large sums with $20 billion resulting from cloud infrastructure services and $27 billion coming from Software as a Service (SaaS) and other internet services.

Synergy Research Group Chief Analyst John Dinsdale commented, “Cloud technologies are now generating massive revenues and high growth rates that will continue long into the future, making this an exciting time for IT vendors and service providers that focus on cloud.”

Cisco Systems, Amazon, and Microsoft continue to dominate the cloud industry. While the cloud infrastructure industry has experienced massive growth in 2015, other cloud services, such as cloud security, may have their chance to dominate in 2016.

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