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The cloud is downturn-proof—maybe

As enterprises face economic challenges that are driving some budget cutbacks, a report from market research firm Gartner shows that public cloud spending is expected to grow in 2023. How can that be?

The report, which covers all cloud categories including infrastructure as a service (IaaS), software as a service (SaaS), and platform as a service (PaaS), showed that public cloud spending is slated to reach a total of $591 billion in 2023, a 20% increase from $490 billion in 2022. IaaS, such as AWS, Google, and Microsoft, is expected to see the highest growth in 2023 with spending expected to reach $150 billion. That’s up 29% from $115 billion this year.

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