Shift to cloud causing headaches to legacy IT vendors

https://www.businessinsider.com.au/ibm-and-oracle-may-be-the-biggest-losers-when-it-comes-to-shifts-in-it-spending-2017-6?r=US&IR=T
Legacy IT vendors are set to lose out considerably in IT budgets over the next three years as the result of the shift to cloud, according to the June AlphaWise/Morgan Stanley CIO report. 

CIOs expect that 46% of their workloads will be in the cloud by the end of 2020, while only 34% will be on-premise. Between now and then, the 100 US and European CIOs surveyed expect to decrease spending on IBM by 13%, and to decrease spending on Oracle by 11%.