target audience: TECH SUPPLIER Publication date: Jun 2023 - Document type: IDC Survey - Doc Document number: # US50852023
The Future of Connectedness: Enterprise Cloud Connect/ Networking Investment Outlook by Vertical Market
Content
- 33 slides
Get More
When you purchase this document, the purchase price can be applied to the cost of an annual subscription, giving you access to more research for your investment.
Related Links
Abstract
This IDC Survey provides insight into cloud connectivity and related cloud spending results from IDC's recurring Future Enterprise Resiliency and Spending Surveys, Wave 12 and Wave 3, conducted in January 2023 and April 2023, respectively. IDC asked IT and LOB decision makers with 500+ employees to provide feedback on how concerns related to inflation and recession threats are impacting 2023 IT budgets and spending. Participants were distributed across North America, Asia/Pacific, and Western Europe.
Key findings related to cloud connectivity and related cloud spending include:
- Multicloud networking remains one of the strongest areas for growth across all connectivity segments and is becoming one of the transformative aspects of connectedness. With a market CAGR of 66.9% worldwide, enterprises are looking to ensure seamless, secure, and policy-driven access to critical applications, service, and data regardless of location.
- 52.6% of enterprises worldwide expect to increase investment in cloud connect and cloud networking solutions compared with 2022, and nearly 70% of enterprises in the Asia/Pacific region expect to increase spending. Transportation and government/public sector verticals have the largest percentage of organizations that expect to increase spending, at 71% and 66%, respectively.
- Technology suppliers that can provide simple and high-performance service insertion of cloud networking and security functions and that deliver scalability and resiliency will be well positioned to help enterprises on their path to becoming agile and connected.
- IDC believes the resilience of connectivity spending reflects the strategic importance of keeping critical data in motion. Public cloud providers lead the way across all strategic technology provider categories, but IDC sees opportunities for traditional connectivity providers to gain transformative mindshare as they bundle this capability with related connectivity services, such as managed network services or unified communications services.