Q4 spending on cloud infrastructure (server, enterprise storage, and Ethernet switch) was $19.4 billion – up 12.4% y-o-y, reports IDC.

In the whole of 2019, $66.8 billion was spent on cloud infrastructure,

The Q4 growth was driven by the public cloud segment, which grew 14.5% y-o-y to $13.3 billion; private cloud grew 8.2% to $6.1 billio

However, in the full year, public cloud ended 2019 barely up 0.1% to $45.2 billion, while private cloud grew in 2019 by 6.6% to $21.6 billion..

IDC’s forecast for 2020 is for $69.2 billion in cloud IT infrastructure spending, a 3.6% increase over 2019.

Non-cloud IT infrastructure spending is expected to decline 9.2% to $61.4 billion in 2020. Together, overall IT infrastructure spending is expected to decline 2.9% to 130.6 billion.

Prior to coronavirus, global  GDP growth for 2020:was forecast at 2.3%, now it’s -0.2%.

IDC’s five-year forecast predicts cloud IT infrastructure spending will reach $100.1 billion in 2024 with a CAGR of 8.4%.