Global spending on cloud IT infrastructure surpassed the spending on non-cloud IT infrastructure for the second time during Q3 2019, according to IDC. Worldwide revenue from sales of IT infrastructure products for cloud environments, including public and private cloud, declined in Q3 2019 by 1.8%. IT infrastructure product comprises a server, enterprise storage, and Ethernet switch. The research firm increased its forecast for total spending on cloud IT infrastructure in 2019 to $65.4 billion.

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As per the report, public cloud spending recorded a decrease of 3.7% YoY to $11.9 billion; however, there was a 24.4% increase from the previous quarter. The public cloud market still accounts for the majority of spending on cloud IT environments, but its share of total spending continued to decline in 2019.

Source: https://finance.yahoo.com/news/cloud-infrastructure-revenues-declined-second-204600010.html