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The entire cloud sector is worth $110 billion (£75 billion) and public cloud (both IaaS and SaaS) is the fastest-growing sub-sector, with revenues increasing by 51 per cent in 2015, according to research.
Private cloud and hybrid cloud came in close second and third places in the league tables, while SaaS and public cloud hardware sales followed behind, according to the figures published by Synergy.
Unified communications and private cloud hardware also played an important role, although adoption remained lower than the other elements of the industry, despite still seeing increases of at least 16 per cent.
Synergy has predicted the complete cloud market, encompassing all aspects of virtual networks and services, is growing at an annual rate of 28 per cent.
The company continued, saying 2015 was a ground-breaking year for cloud services, with the infrastructure behind the technology and services becoming mainstream according to enterprise customers.
“In many ways 2015 was the year when cloud became mainstream,” Synergy research group’s founder and chief analyst Jeremy Duke. “Across a wide range of cloud applications and services we have seen that usage has now passed well beyond the early adopter phase and barriers to adoption continue to diminish.”
The most profitable cloud companies listed were AWS, Cisco, HP Enterprise (HPE), IBM , Microsoft and Salesforce.
Synergy suggested cloud use is on the rise is partly down to the adoption of additional cloud-based services such as search, social networking, email and e-commerce, which is becoming a key part of any company's marketing strategy.