A report by Research and Markets projected that the global cloud computing market is expected to grow to $832.1 billion by 2025. Furthermore, public cloud spending in eight major Asia Pacific economies - Australia, India, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam - is growing at a faster rate than in the United States and Western Europe.

In the Philippines, analyst firm GlobalData reports that cloud opportunities are expected to surge in the country as enterprise spending on cloud services is anticipated to grow from $1.8 billion in 2020 to $2.6 billion in 2024.