What is the Size of Global Cloud Computing Industry?
Global Cloud Computing market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Cloud Computing Market is largely driven by 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 is expected to drive market growth in the near future.
The widespread adoption of AI and ML technologies in businesses has increased data usage, which has further boosted big data services. This increased consumption of data and the requirement of efficient computational solutions for AI and ML is expected to create a larger opportunity space for Cloud Computing service providers.
Cyber-attacks pose a major threat to cloud operations. Additionally, the lack of resources and technical skills required to operate cloud platforms and infrastructure pose challenges to the market growth
The Covid-19 pandemic accelerated the demand for collaboration solutions, remote-working models, and remote IT services, which in turn created a greater demand to utilize and adopt cloud computing solutions across different industry verticals.
With the substantial increase in the demand for streaming platforms, such as Amazon Prime, Disney+, Twitch, Netflix, Hulu, YouTube, and Apple TV and the surge in Video-on-Demand (VoD) has augmented the demand for Infrastructure as a service (IaaS) to tackle consumer demands.
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Global Cloud Computing market by service
The Global Cloud Computing market is segmented by Service into IaaS, PaaS & SaaS.
The SaaS segment dominated the market among services of the Global Cloud Computing Market in 2022.
SaaS products are expected to witness strong growth in the forthcoming years as their total cost of ownership (TCO) will be equal to that of the on-premise deployment models. The increasing number of businesses offering cloud-based services and increasing preferences for SaaS delivery models are expected to accelerate SaaS segment growth throughout the forecast period.
SaaS offers a pay-as-you-go model that gives organizations greater flexibility and web-based subscriptions to access the program remotely. The SaaS delivery model focuses on delivering software solutions that have the potential to reach a wider audience.
Global Cloud Computing market by deployment
The Global Cloud Computing Market is segmented by Deployment on the basis of private, public and hybrid.
The Hybrid segment accounted for the majority share among deployment modes of the Global Cloud Computing Market in 2022 and is expected to showcase the highest growth rate during the forecast period (2022-2028).
Hybrid cloud is a cloud computing environment that practices a mix of on-premises, private cloud, and third-party, public cloud services with instrumentation between the two platforms.
A hybrid model allows businesses to significantly switch between their on-premise infrastructure and public cloud services depending on the need for sensitive data and computation.
Global Cloud Computing market by End-User
The Global Cloud Computing market is segmented by End-User into Banking, Financial, Services, and Insurance, IT and Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector and Others.
The healthcare segment accounted for the largest market share among end-users of the Global Cloud Computing Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).
Growing adoption of artificial intelligence and machine learning solutions by various retail and healthcare service providers is expected to boost the Cloud Computing Market during the forecast period
Global Cloud Computing market by Enterprises
The Global Cloud Computing market is segmented by enterprises into SMEs and Large enterprises.
Large enterprises segment captured the largest market share among enterprise segments of the Global Cloud Computing Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).
The adoption of cost-efficient cloud solutions in the large enterprises segment is growing due to lesser downtime, and fewer expenditures than internal servers.
Cloud computing solutions prevent conflicts and complications arising due to large sets of data gathered from large enterprises by enabling better data and document control.
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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
- Nodejitsu Inc.
- The cloud Connectors
- 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
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