Operator and vendor revenues across the main cloud services and infrastructure market segments hit $148 billion (£120.5bn) in 2016 growing at 25% annually, according to the latest note from analyst firm Synergy Research. Infrastructure as a service (IaaS) and platform as a service (PaaS) experienced the highest growth rates at 53%, followed by hosted private cloud infrastructure services, at 35%, and enterprise SaaS, at 34%.