According to an April 2020 report by the International Data Corporation (IDC), spending on IT cloud infrastructure in the fourth quarter, 2019, grew by 14.5% year-on-year (YoY) to $13.3 billion worldwide. Private cloud also grew by 8.2% to $6.1 billion during the period.
Cloud spending is expected to make up as much as 10% of IT spending budgets by 2023, the BCG study said. An Australian airline involved in the study said it was able to save $40 million in annual fuel costs by using cloud-based analytics. The airline simulated 'tens of thousands of flight patterns' to create more efficient routes. “We were able to spin up approximately 4,000 CPUs, run the analysis, and then spin use back down to nothing," the company’s chief information officer (CIO) said.

That said, the need for robust cloud infrastructure has led to higher demand for personnel with IT skills such as engineering and coding, which has been a challenge in countries like India, Vietnam and the Philippines.

The BCG study quoted an executive from a top Indian bank who said finding the right talent is a challenge in the country. In the study, 55% of the respondents said they are focusing on reskilling their staff.
Meanwhile, in India, IT exports from Telangana has grown by 17.93 per cent in the last financial year at ₹1.28 lakh crore even as the sector created about 40,000 new jobs.

Despite the onset of the COVID-19 during the last quarter of the financial year 2019-2020, the export growth of the state managed to record a phenomenal 17.93 per cent growth for the full financial year.
This is more than double that of the national growth, an official press release quoted IT Minister KT Rama Rao as saying. The exports stood at ₹1,28,807 crore in FY '20 against ₹1,09,219 crore in the FY '19. The sector has 5,82,126 employees as of March 31 against 5,43,033 personnel at the end of 2018-19, the release said.

That said, the need for robust cloud infrastructure has led to higher demand for personnel with IT skills such as engineering and coding, which has been a challenge in countries like India, Vietnam and the Philippines. The BCG study quoted an executive from a top Indian bank who said finding the right talent is a challenge in the country. In the study, 55% of the respondents said they are focusing on reskilling their staff.
Meanwhile, in India, IT exports from Telangana has grown by 17.93 per cent in the last financial year at ₹1.28 lakh crore even as the sector created about 40,000 new jobs. Despite the onset of the COVID-19 during the last quarter of the financial year 2019-2020, the export growth of the state managed to record a phenomenal 17.93 per cent growth for the full financial year.
This is more than double that of the national growth, an official press release quoted IT Minister KT Rama Rao as saying. The exports stood at ₹1,28,807 crore in FY '20 against ₹1,09,219 crore in the FY '19. The sector has 5,82,126 employees as of March 31 against 5,43,033 personnel at the end of 2018-19, the release said.