Based on market conditions that we have observed over the past year and the recent public cloud revenue results of Amazon, Microsoft, Oracle, SAP, and IBM, we expect that public cloud spending will continue to accelerate rapidly, growing from $75B in 2015 to $522B by 2026 (19% CAGR). Each public cloud segment will have rapid growth rates: SaaS (19% CAGR), PaaS (33% CAGR), and IaaS (18% CAGR) during this period. How big will public cloud be? By 2026, cloud will account for nearly 50% of spending related to enterprise hardware, software, and outsourcing services.