According to the International Data Corporation (IDC) Worldwide Quarterly Cloud IT Infrastructure Tracker, vendor revenue from sales of infrastructure products (server, enterprise storage, and Ethernet switch) for cloud IT, including public and private cloud, grew 48.4 percent year over year in the second quarter of 2018 (2Q18), reaching $15.4 billion.
IDC also raised its forecast for total spending (vendor recognized revenue plus channel revenue) on cloud IT infrastructure in 2018 to $62.2 billion with year-over-year growth of 31.1 percent.
Quarterly spending on public cloud IT infrastructure has more than doubled in the past three years to $10.9 billion in 2Q18, growing 58.9 percent year over year. By end of the year, public cloud will account for the majority, 68.2 percent, of the expected annual cloud IT infrastructure spending, growing at an annual rate of 36.9 percent.
In 2Q18, spending on private cloud infrastructure reached $4.6 billion, an annual increase of 28.2 percent. IDC estimates that for the full year 2018, private cloud will represent 14.8 percent of total IT infrastructure spending, growing 20.3 percent year over year.