Cloud-buying interest at large enterprises increased significantly in the first half of the year. Using our proprietary buyer intent research and technology, we’re able to identify enterprises that are in the early to mid stages of the technology services buying process – often even before they’ve engaged with providers.
Our latest research indicates that the number of Forbes Global 2000 companies showing increased buying intent for cloud services has more than doubled since December 2020. And even more interestingly, when we broke the G2000 into segments by company size, the G1 to G500 segment saw the biggest increase in the number of companies showing increased interest in cloud services (see Data Watch).
As we discussed at length over the past several Index calls, we believe we’re just now entering the heavy-lifting phase of the cloud era. While millions of workloads have moved or been created on the hyperscale platforms, there is still a mountain of legacy enterprise systems to migrate or modernize.
And this is why we believe as-a-service ACV will continue on its exceptional growth trajectory (2Q21 ACV up 38% Y/Y) and why providers will continue to double down on creating new cloud services, hiring cloud talent, acquiring boutique firms and creating partnerships with leading cloud providers.