Annual public cloud revenue reaches half a trillion dollars

Global revenue generated by public cloud services topped the $500 billion mark in 2022, according to new data released this week by research firm IDC.The actual figure was $545.8 billion, IDC’s research found, a sum that represents a 22.9% increase over the previous year. Foundational cloud services — which IDC defines as infrastructure, platform and system infrastructure software delivered as services — grew even more quickly, rising by 28.8% in year-on-year terms.This founda