80% of organisations intend to raise cloud spending next year: Infosys

Sixty-seven per cent of companies have upped their cloud spending this year, with 80 per cent planning to do so next year, according to the latest findings from Infosys Cloud Radar 2023.

The research underscores a move in cloud usage from simply storage and cost reduction to harnessing cloud technology for new capabilities. It’s also being used to open new revenue avenues and to replace or update existing systems.

The study reveals that while investment in cloud will continue, less than half of the allocated funds are actually being utilised. This is not an immediate issue, but companies that don’t fulfil their cloud contracts may face elevated costs as providers may revisit contract terms.