Cloud roundup: Microsoft acquires startup Fungible

This post was originally published on Light Reading

In this cloud roundup, IDC predicts enterprise application growth will reach $385 billion in 2026, Microsoft acquires startup Fungible, GCX and Nordic team up on data center growth, and Windstream updates a unified communications platform with AWS.

IDC forecasts enterprise app growth to reach $385 billion in 2026

Analyst group IDC predicts global revenue for enterprise applications will reach $385.2 billion in 2026, up from $279.6 billion in 2022. This increase represents a five-year compound annual growth rate (CAGR) of 8.0%.

IDC forecasts that two-thirds of enterprise application revenue will result from public cloud software investments. The research group said organizations that don’t transition their on-premise applications to the cloud will experience opportunity cost losses to competitors that do adopt cloud technologies and use application programming interfaces (APIs).

(Source: Unsplash)

Enterprise software needs to keep pace with “demand for speed, scale and a resilient business,” said Heather Hershey, research director, Worldwide Digital Commerce at IDC, in a statement.

Organizations should invest in tools that keep their “application portfolio up to date” and automate “all processes while also leveraging innovation and a wealth of data to become a

Read the rest of this post, which was originally published on Light Reading.

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