Public cloud's top 10 providers will grow their market share to 70 percent this year, according to Gartner, which has warned of the industry's top players gaining an "unchecked influence" on the Infrastructure-as-a-Service (IaaS) space.
The market watcher has forecast public cloud revenues will jump by 21 percent year over year in 2018, pushing total sales to $186.4bn.
The fastest-growing segment of the market, according to Gartner, remains IaaS, which is forecast to grow 36 percent to total $40.8bn in sales in 2018.
Meanwhile, the most lucrative segment by some margin is cloud application services (SaaS), which is set to generate $73.6bn in revenues in the same time frame. By 2021, SaaS is expected to make up 45 percent of the entire cloud market.
Gartner also found that despite an increasing number of firms moving into the cloud space, the top 10 public cloud giants are set to swell their market share from 50 percent in 2016 to 70 percent by 2021.
Sid Nag, research director at Gartner, added a word of caution, warning that while a buoyant market creates enormous opportunities for end users, firms should be wary of the increasing dominance of hyperscale IaaS providers.
"While [cloud] enables efficiencies and cost benefits, organizations need to be cautious about IaaS providers potentially gaining unchecked influence over customers and the market," Nag said.
"Although these large vendors have different strengths, and customers generally feel comfortable that they will be able to meet their current and future needs, other Database-as-a-Service offerings may be good choices for organizations looking to avoid lock-in."
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