The global cloud computing market is expected to grow at a CAGR of 17.3% during the forecast period 2021-2027. The penetration of cloud-based technology provides computing solutions, application layers, and infrastructure solutions that increase access to advanced technologies are driving the market growth of cloud computing across the globe.
In addition, it offers flexibility, storage, security management, utility-based sharing models, high-level computing, and others. Furthermore, emerging economies are more inclined towards cloud computing due to cost benefits and the introduction of cloud computing products in the market portfolio, which also fuels the market demand for cloud computing in the near future.
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The outbreak of COVID-19 exhibits a positive influence on the adoption of cloud computing solutions. Numerous organizations and governments in the market are mainly reliant on IT services and solutions as well as there is considerable growth in the online stream platforms such as Amazon, Spotify, Netflix, etc. Thus, companies are selecting work from home models like Software-as-a-service (SaaS) based solutions to protect their workforce from coronavirus and continue their operational efficiency. It leads to the sudden growth in cloud-hosted services like IaaS, SaaS, and PaaS across various enterprises that accelerate the market demand of cloud computing over the forecasting period.
Growth Drivers
The increasing returns on investments with less storage and infrastructure costs are driving the market across the globe. As the maintenance cost for hosting data and implementation on a platform like on-premises is one of the major concerns among enterprises. Considering the global economic scenario and market competition stimulates the penetration of cost-effective measures for reforming business models.
Also, emerging markets in developing nations such as Africa, Brazil, China, and India fuels the market demand. Increasing demand for a cost-effective digital solution like cloud computing facilitates an organization to work efficiently. With the various applications offered by emerging technologies, small and Medium Enterprises (SMEs) and large enterprises also shift towards cloud computing. This may also flourish the market demand for cloud computing in the forecasting years.
Global cloud computing market report segmentation
By Service
Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)
By Deployment
Public
Private
Hybrid
By Enterprise Size
Large Enterprises
Small & Medium Enterprises
By End-Use
BFSI
IT & Telecom
Retail & Consumer Goods
Manufacturing
Energy & Utilities
Healthcare
Media & Entertainment
Government & Public Sector
Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Geographically, North America holds the majority of shares in 2020. Due to the factors such existence of major market players such as Amazon Inc., Oracle Corp., International Business Machines Corp., and Microsoft Corp., as well as higher acceptance of latest technologies.
The U.S. is the key contributor to the market growth in this region due to the high adoption rate of next-generation technologies such as big data analytics, AI, MR, AR, IoT, etc., along with the companies are more inclined towards the digital transformation. Moreover, the availability of a skilled workforce and the presence of advanced infrastructure will further fuel the market demand for cloud computing in the region.
Asia Pacific is projected to exhibit a noteworthy CAGR in the upcoming years. The rapid development of emerging countries such as China, Japan, India, South Korea, and others and the introduction of several regional competitors impels the regional cloud computing market growth.
For instance, in July 2021, Google introduced its second cloud computing region in Delhi. With this launch, the company helps enterprises solve their intricate challenges by utilizing reliable and secure cloud computing technology even closer to the house. Hence, the increasing launch of cloud computing services across the region fuels the market growth in the upcoming scenario.
Competitive Insight
Major players operating the global market include Adobe Inc., Alibaba Group Holding Ltd., Amazon.com Inc., CenturyLink, DigitalOcean, DXC Technology, Fujitsu, Google LLC, Infor, International Business Machines Corporation, Joyent, Microsoft Corporation, NEC Corporation, Open Text Corporation, Oracle Corporation, OVHcloud, Rackspace Technology, Salesforce.com Inc., SAP SE, Skytap, Tencent, Virtustream, Vmware, Workday, Inc., and Zoho Corporation Pvt. Ltd.
Table of Content
Chapter 1: Global Cloud Computing Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Cloud Computing market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Cloud Computing Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Cloud Computing market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Cloud Computing market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Cloud Computing market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Cloud Computing market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Cloud Computing business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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