UK trading website
BuyShares.co.uk (Buy Shares) has published data that suggests the United States is responsible for generating most of the world’s public cloud hosting revenue. Established in 2020, Buy Shares is a Finixio Ltd. company with headquarters in London, United Kingdom. The website “provides top quality insights through financial educational guides and video tutorials on how to buy shares and invest in stocks”. The company’s findings show that in 2020 the United States generated 47.21% of the public cloud hosting revenue worldwide, a market that generates total revenue of $95.47 billion globally.
BuyShares’ figures also indicate the dominance of five countries in the area that together produce 63.1% of all income in the sector. While China comes second, its public cloud hosting figures represent a mere $5.45 billion. The other countries in the list combined only generate a revenue of $35.32 billion. However, projections suggest that global public hosting will grow 155.96% over the next five years, and this despite the impact of the Covid-19 pandemic.
“Just like other sectors, the coronavirus crisis had a significant impact on the Information Technology sector. The crisis crippled global economies due to the imposed lockdowns,” explained a company representative. “Under the IT sector, the pandemic has caused disruptions in the electronics value chain posing a risk of product price hikes. At the same time, the disruption accelerated remote working culture and focus on evaluating the end-to-end value chain. Amid the health crisis, work environments that can be operated remotely are likely to benefit from cloud technology for a long period.”
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