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Ever more corporate spend moving to remote Cloud usage, says HAN-GINS Cloud Technology ETF

Total customer spending on cloud infrastructure exceeded US$40bn for the first time in the first quarter of 2021

HAN-GINS Cloud Technology UCITS ETF -

HAN-GINS Cloud Technology UCITS ETF (LSE:SKYY) (SKYY) highlighted research that infrastructure spending is set to double to almost US$500bn within three years, taking the majority of corporate IT spending as companies move away from hardware further boosting the cloud revolution.

“The majority of IT corporate spend is moving away from onsite hardware and servers to remote Cloud usage with data centre chip revenues and hyperscale cloud seeing significant revenue boosts during COVID," said Anthony Ginsberg, managing director of GINSGlobal Index Funds, which runs the SKYY ETF on the HanEtf platform.

SKYY, which is up 35.22% over the past 12 months, highlighted the trend to more hybrid and multi-cloud platforms and infrastructure, with companies such as IBM, Salesforce and SAP benefiting from open architecture allowing the easy flow of data across multiple clouds.

Total customer spending on cloud infrastructure exceeded US$40bn for the first time in the first quarter of 2021 with the flexibility of contracts and improved US COVID situation increasing corporate confidence in committing to longer term deals.

“The growing popularity of Hybrid Cloud means many more businesses can now embrace the Cloud ensuring faster scaling up for business globally, using multiple cloud platforms to move data," said Ginsberg. 

“Cloud usage in Asia for online gaming and streaming has made the region the fastest growing area for digital entertainment.“

He said the SKYY ETF is "now even more representative of the cloud theme globally", as it now had 75 holdings, up from 50, with the fund's updated equal-weighted approach allowing it to captures smaller and more innovative Cloud companies with each holding averaging around 1.3%, he added.

The $500bn projection is from the IDC.

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The HAN GINS Cloud Technology ETF co-creator expects cloud spending to rise...

The HAN GINS Cloud Technology ETF (LON:SKYY) co-creator Anthony Ginsberg tells Proactive he expects cloud spending to rise to $500B within 2 years, driven by continued working from home behavior, including 80% of companies gravitating towards cloud contracts. What's more, Ginsberg says online...

on 8/7/21

2 min read