Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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13th November 2019 11:56AM
Tech in business
The cloud boom that has dominated enterprise technology for the past decade is far from over, with Gartner predicting a dramatic climb in revenue from public cloud services next year.
According to a report published by the company, the public cloud services market will increase by 17% around the world in 2020, rising from $227.8bn in 2019 to $266.4bn.
The field will continue to be led by the software as a service (SaaS) market, the largest cloud market segment, which is forecasted to grow to $116bn.
However, it is infrastructure as a service (IaaS), which will enjoy the biggest revenue climb in the public cloud space. It is predicted to see growth of 24% year over year, to reach $50bn in 2020.
IaaS is expected to grow as businesses increasingly look beyond traditional data centres to meet the needs of modern applications.
Public cloud revenue growth to continue into 2020s
The data indicates that while cloud technologies are very much the norm in modern businesses, there is still significant potential for expansion of their use.
“At this point, cloud adoption is mainstream,” said Sid Nag, research vice president at Gartner.
“The expectations of the outcomes associated with cloud investments therefore are also higher. Adoption of next-generation solutions are almost always ‘cloud-enhanced’ solutions, meaning they build on the strengths of a cloud platform to deliver digital business capabilities.”
This approach is set to translate into continued public cloud revenue growth over the next few years.
The total market value is projected to reach $308.5bn in 2021 and $354.6bn in 2022, with SaaS growing to $151.1bn in 2022 and IaaS to $74.1bn in the same year.
Gartner also anticipates such growth to continue.
“Building, implementing and maturing cloud strategies will continue to be a top priority for years to come,” said Nag.
Cheers all, can't be too much longer for CLCO's formal listing and disclosure of material news , given Fortinet's address to "Mark Halpin, Managing Director at CloudCoCo Group plc (Formerly Adept4)" for their executive seminar 26th November in London hTtps://lnkd.in/eqbkmXu .....Gla ;-)
Could this be one of our major new clients, mentioned in the last RNS ? ATB.
Great read as always MM, appreciate your knowledge and insight into our company, and the great future we will share together, thanks again Moneymunch. GLA. ATB.
Keep up the good work MM, not to many listening at the moment, all waiting on official news behind the red dot!
High praise from a Major player. Gla :')
Fortinet
Financial Highlights
FY 2018 Revenue: $1.80B
FY 2018 Billings: $2.15B
Q3 2019 Revenue: $548M
Q3 2019 Billings: $627M
$2.1B cash and investments with no debt
Customers
425,000+ customers
Mark Halpin Managing Director of CloudCoCo Plc 6m · Edited
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Proud to be a partner Fortinet cares about and even more passionate about the quite simply brilliant skills we have in house. Just to mention a few CloudCoCo heroes helping clients improve their #cybersecurity in Stephen Del Sette Robbie Millington Mark Wainwright Andy Stockdale and Ben Jones. Thanks to Greg Gyves and Chris Briers for treating us like human beings. #thefuturestartsnow #fortinet
Greg Gyves Regional Sales Manager, MSSP - UKI at Fortinet 58m
Mark Halpin, Managing Director at CloudCoCo Group plc (Formerly Adept4) on his typically straightforward justification for why he works with the Fortinet MSSP team! The future starts now! Stay tuned for secure cloud and network services from our partnership! To find out for yourself how we can align to and help accelerate your MSP growth strategy come and register for our executive seminar on the morning of 26th November in London hTtps://lnkd.in/eqbkmXu #msp #mssp #publiccloud #servicefactory #winning Chris Briers Michael Brooks Paul Haines Kirk Haddon Andrew Wilson Adam Hurst MSc Adam Fossett Robert Speight Anton Murphy David Park
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