Global Cloud Computing market expected to record a CAGR of ~15% during the forecast period (2017-2028): Ken Research

The Global Cloud Computing market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

North America accounted for the largest share among all regions within the Cloud Computing Market in 2022.

North America is also expected to dominate the market in terms of revenue during the forecast period due to the early adoption of technologies such as Artificial Intelligence, robotics, IoT, and cloud. The presence of prominent cloud providers, including IBM Corporation, Microsoft Corporation, Oracle Corporation, and others contribute to the region’s demand for cloud-based solutions. The cloud service providers focus on investing in technical skills, partnerships, and expansion of cloud centers.

The use of cloud-based solutions in developing nations like India, China, Brazil, and Africa is expected to grow in the market. As developing economies, these countries require cost-effective infrastructural solutions due to a lack of adequate technologies and finance. By utilizing cloud solutions, developing nations have managed to reduce their IT expenditures during the COVID-19 pandemic situation. Organizations are fully able to utilize on-demand, scalable cloud models to achieve cost-effectiveness and business continuity to accelerate their aims for digital business transformation.

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Competition Scenario in Global Cloud Computing market

The Global Cloud Computing Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The Cloud Computing market’s growth is heavily reliant on IoT-based applications. Nowadays, numerous cloud-based companies, including Amazon, Google, HPE, Oracle, and IBM collaborate and acquire companies to expand their presence in Cloud Computing. The company focuses on cloud solutions and services are constantly focusing on R&D activities, product enhancements, and new product launches with the integration of big data, artificial intelligence, and machine learning.

Country-Niche players constitute about ~60% of the total competitors, while regional players comprise a share of ~30%. Some of the major players in the market include Microsoft, AWS, Salesforce, Oracle, SAP, Google, Workday, Adobe, IBM, Alibaba, VMware, and HPE among others.

What is the Expected Future Outlook for the Overall Cloud Computing Market Across the globe?

The Global Cloud Computing market was valued at USD ~billion in 2021 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Cloud Computing market is driven by factors such as the growth in big data and higher adoption of artificial intelligence and machine learning. Moreover, the adoption of cloud-based solutions in developing economies such as India, China, Brazil, and Africa are expected to drive market growth in the near future. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Merger and collaboration among companies will also affect the Cloud Computing market as it will enhance the productivity and reduce the cost. For Instance, In July 2022, Oracle collaborated with Claro, a Mexican telecom group. This collaboration focused on jointly offering

Oracle Cloud Infrastructure (OCI) services to the public as well as private sector organizations and enterprises in Colombia. In addition, the collaboration would accelerate the technology modernization of businesses and customers across Latin America. The collaboration with Claro is also expected to accelerate cloud adoption, stimulate economic recovery, and spur competitiveness in these nations.

The Global Cloud Computing Market is forecasted to continue rapid growth, which is primarily driven by the integration of Big Data, Artificial Intelligence, and Machine Learning with the cloud. The market size is estimated to be USD ~ Bn by 2022 and is expected to reach USD ~ Bn by 2028 growing with a CAGR of ~%. North America is the dominant region in the globe however Asia Pacific region is expected to grow at a higher pace. Though the market is highly competitive with ~500 participants, few global players control the dominant share and regional players also hold a significant share.

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Key Topics Covered in the Report

  • Snapshot of Global Cloud Computing Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Cloud Computing Market
  • Historic Growth of Overall Global Cloud Computing Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of Global Cloud Computing Industry
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • Covid 19 Impact on the Overall Global Cloud Computing Market
  • Future Market Forecast and Growth Rates of the Total Global Cloud Computing Market and by Segments
  • Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
  • Analysis of Cloud Computing Market
  • Major Production / Consumption Hubs in the Major within Each Region
  • Major Production/Supply and Consumption/Demand Hubs within Each Major Country
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Region

Leading Companies Mentioned in the Report

  • Microsoft Corporation
  • Amazon Web Services
  • Salesforce. Com, Inc.
  • Oracle Corporation
  • Systems, Application & Products in Data Processing
  • Google LLC
  • Workday Inc.
  • Adobe System Incorporation
  • International Business Machines
  • Alibaba Group Holding Limited
  • Virtual Machine Software
  • Hewlett Packard Enterprise

Notable Emerging Companies Mentioned in the Report

  • OutSystems
  • Onecloud
  • IntelePeer
  • Nodejitsu Inc.
  • Activestate
  • The cloud Connectors
  • Gogiro
  • Hexagon data
  • Power Host
  • MCM Telecom

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Cloud Computing Solution Companies
  • Cloud Computing Platform Companies
  • Potential Investors in Cloud Computing Companies
  • ML Solutions and Service Providers
  • Government Ministries and Departments of Information Technology
  • AI Solution Providers
  • Potential Investors for AI
  • Cloud-based Developers
  • Institutional Investors
  • Investors and Financial Community Professionals
  • Investment Funds
  • Cloud Computing Research Organizations
  • Research & Development Institutes
  • Cloud Computing Association

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below:-

Global Cloud Computing market

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