According to the technology research company IDC, spending on cloud infrastructure reached a total of $73.9 billion in 2021. This shows that expenditure on cloud computing was 8.8% higher than in 2020.

In the fourth quarter of 2021, $21.1 billion was spent on cloud infrastructure, a jump of 13.5% compared to the previous year. Only in the second quarter of 2021, there was a 1.9% decline in cloud spending. For the first time in seven quarters, spending on cloud fell.

For 2022, IDC forecasts that companies will spend $90.0 billion on cloud infrastructure, a jump of 21.7% year-on-year.

Spending on shared cloud infrastructure is also expected to increase year-on-year by 25.5% to $64.5 billion in 2022. Spending on dedicated cloud infrastructure is expected to increase by 13.1% to $25.4 billion in 2022.

In 2021, business spending on traditional IT increased. Enterprise invested nearly $17.2 billion in non-cloud Infrastructure. According to IDC, this marks a 1.5% increase year-on-year in the fourth quarter of 2021.

It also marks the fourth consecutive quarter of growth in traditional IT spending which grew 4.2% over 2020 to $59.6 billion for the year.

For more information read the original story in ZDNet.