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Public & Private Cloud IT Infrastructure Revenues Grew by 27.3% in the Fourth Quarter of 2017- IDC
International Data Corporation (IDC’s) Worldwide Quarterly Cloud IT Infrastructure Tracker, shows that vendor revenue from sales of infrastructure products such as (server, storage, and Ethernet switch) for cloud IT, including public and private cloud, grew 27.3% year over year in the fourth quarter of 2017 (4Q17), reaching $12.8 billion.
For the full year 2017, the combined public and private cloud deployments continued the double-digit annual growth trend from past years with revenues reaching $43.4 billion for 21.7% year-over-year growth.
Public cloud infrastructure revenue has almost doubled in the past two years to $8.5 billion, growing 34.0% year over year in 4Q17.
Private cloud revenue reached $4.3 billion for an annual increase of 15.7%. Total worldwide cloud IT infrastructure revenue in 2017 more than doubled when compared to 2013.
The combined public and private cloud revenues now represent 42.2% of the total worldwide IT infrastructure spending, up from 39.3% a year ago.
Traditional (non-cloud) IT infrastructure revenue grew 12.8% from a year ago, although it has been generally declining over the past several years; at $17.5 billion in 4Q17 it still represents 57.8% of total worldwide IT infrastructure spending.
Kuba Stolarski, research director for Computing Platforms at IDC, said “2017 finished strong for public cloud IT infrastructure growth, led by continued expansion by Amazon and renewed growth in Google and Facebook infrastructure,”
“While there has been high growth in all IT infrastructure segments lately, public cloud, led by the hyperscalers, has resulted in the largest share of infrastructure growth, which is expected to continue at this pace for at least a few more quarters.”
Except for Latin America and Japan revenue, which grew 6.2% and 4.8% respectively from a year ago, all other regions in the world grew their cloud IT Infrastructure revenue by double digits.
Asia/Pacific (excluding Japan) and Central and Eastern Europe (CEE) saw the fastest growth rates at 59.0% and 34.1%, respectively.
Canada (23.3%), Middle East & Africa (MEA) (27.5%) and USA (21.1%) had annual growth in the twenties, while Western Europe (16.6%) had annual growth in the teens.
IDC’s Worldwide Quarterly Cloud IT Infrastructure Tracker is designed to provide clients with a better understanding of what portion of the server, disk storage systems, and networking hardware markets are being deployed in cloud environments.
This tracker breaks out each vendors’ revenue by the hardware technology market into public and private cloud environments for historical data and provides a five-year forecast by the technology market.
IDC defines cloud services more formally through a checklist of key attributes that an offering must manifest to end users of the service.
Public cloud services are shared among unrelated enterprises and consumers; open to a largely unrestricted universe of potential users; and designed for a market, not a single enterprise.
The public cloud market includes variety of services designed to extend or, in some cases, replace IT infrastructure deployed in corporate datacenters.
It also includes content services delivered by a group of suppliers IDC calls Value Added Content Providers (VACP).
Private cloud services are shared within a single enterprise or an extended enterprise with restrictions on access and level of resource dedication and defined/controlled by the enterprise (and beyond the control available in public cloud offerings); can be onsite or offsite; and can be managed by a third-party or in-house staff.
In private cloud that is managed by in-house staff, “vendors (cloud service providers)” are equivalent to the IT departments/shared service departments within enterprises/groups.
In this utilization model, where standardized services are jointly used within the enterprise/group, business departments, offices, and employees are the “service users.”
IDC defines Compute Platforms as compute intensive servers. Storage Platforms includes storage intensive servers as well as external storage and storage expansion (JBOD) systems.
Storage intensive servers are defined based on high storage media density. Servers with low storage density are defined as compute intensive systems.
Storage Platforms does not include internal storage media from compute intensive servers.
There is no overlap in revenue between Compute Platforms and Storage Platforms, in contrast with IDC’s Server Tracker and Enterprise Storage Systems Tracker, which include overlaps in portions of revenue associated with server-based storage.
Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge of N12.3 billion fraud against Chief Oba Otudeko, chairman, Honeywell Group, and Stephen Olabisi Onasanya, the former managing director, First Bank of Nigeria (FBN).
Chief Oba Otudeko, chairman, Honeywell Group, and Stephen Olabisi Onasanya, former managing director, First Bank
The charges were filed at the Federal High Court in Lagos.
They are joined by Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Limited, a company linked to Otudeko.
The four defendants are accused of orchestrating a fraudulent scheme involving the diversion of N12.3 billion from First Bank, with the fraudulent activities allegedly occurring between 2013 and 2014.
The charges against them include claims that they unlawfully obtained funds in multiple transactions, including N5.2 billion, N6.2 billion, N6.15 billion, N1.5 billion, and N500 million.
These funds were allegedly obtained under the false pretence of credit facilities for V-Tech Dynamic Links Limited and Stallion Nigeria Limited.
The EFCC further alleged that the defendants falsified documents to mislead First Bank into processing these transactions.
In the first charge, the defendants were accused of conspiring to fraudulently obtain N12.3 billion from First Bank, misrepresenting that it was for V-Tech Dynamic Links Limited and Stallion Nigeria Limited, despite knowing the information to be false.
In the second charge, they allegedly obtained N5.2 billion from First Bank on November 26, 2013, by falsely claiming it was for V-Tech Dynamic Links Limited.
Between 2013 and 2014, the defendants are accused of obtaining N6.2 billion from First Bank, falsely claiming it was for Stallion Nigeria Limited.
The EFCC also alleged that, on or about September 3, 2013, the defendants forged documents, including a “Letter of Application” to deceive First Bank into believing that the documents were from V-Tech Dynamic Links Limited.
In a similar manner, they were accused of forging a document titled “Authorization to Issue Investment Certificate to First Bank” with the intent to mislead the bank.
Additionally, the charges included accusations that the defendants procured the transfer of N6.2 billion from Stallion Nigeria Limited’s account at First Bank to conceal fraudulent activities.
On December 11, 2013, the defendants allegedly facilitated a transfer of N2.09 billion from Stallion Nigeria Limited’s account to Emmerado Logistics Limited as part of the fraudulent scheme.
Alos, Chief Otudeko is accused of failing to declare a personal interest in a loan facility of N6.15 billion sought by V-Tech Dynamic Links Limited, in breach of banking regulations.
The charges are based on violations of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, the Miscellaneous Offences Act, the Money Laundering (Prohibition) Act 2011, and the Banks and Other Financial Institutions Act 2004.
The four defendants are expected to face serious legal consequences if found guilty.
The case is set to proceed on January 20, 2025, and could set an important precedent in the fight against financial fraud in Nigeria’s banking sector.
TikTok plans to shut U.S. operations of its social media app used by 170 million Americans on Sunday, when a federal ban is set to take effect, barring a last-minute reprieve, people familiar with the matter said.
The Washington Post reported President-elect Donald Trump, whose term begins a day after a ban would start, is considering issuing an executive order to suspend enforcement of a shutdown for 60 to 90 days. The report did not say how Trump could legally do so.
Users who have downloaded TikTok would theoretically still be able to use the app, except that the law also bars U.S. companies starting Sunday from providing services to enable the distribution, maintenance, or updating of it.
The Trump transition team did not have an immediate comment. Trump has said he should have time after taking office to pursue a “political resolution” of the issue.
“TikTok itself is a fantastic platform,” Trump’s incoming national security adviser Mike Waltz told Fox News on Wednesday. “We’re going to find a way to preserve it but protect people’s data.”
The New York Times separately reported that Tiktok CEO has been extended an invitation to attend the President-elect’s inaugration and sit in “a position of honor”.
A White House official told Reuters Wednesday President Joe Biden has no plans to intervene to block a ban in his final days in office if the Supreme Court fails to act and added Biden is legally unable to intervene absent a credible plan from ByteDance to divest TikTok.
Mastercard has expanded its operations in West Africa by opening its first office in Ghana, in its capital Accra. According to the multinational payments network company, the expansion aims to bolster Ghana’s digital economy and support financial inclusion.
Mastercard says Ghana offers fertile ground for the company to enhance its geographical presence in West Africa, citing the country’s growth in key sectors like agriculture, mining and digital infrastructure.
In addition to the new office, Mastercard has partnered with several companies including Kalabash, KaiOS, Boost, Smile ID, Access Bank and Fidelity Bank to enhance cross-border payment solutions, empower local fintechs and enhance access to digital services for underserved communities.
“Our growth strategy for West Africa is ambitious, and establishing a formal presence here allows us to better serve the specific needs of our customers. We are eager to leverage our global expertise and innovative capabilities to introduce advanced payment technologies in this market,” commented Mark Elliott, division president for Africa at Mastercard.
For Folasade Femi-Lawal, country manager and area business head, West Africa, Mastercard, the expansion is about growing the local economy.
She says: “We are committed to attracting and nurturing top talent and fostering an ecosystem that aims to contribute positively to the local economy and technological advancement.”
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