The global cloud computing market is expected to grow from +280 billion US dollars in 2019 to +650 billion US dollars by 2024, with annual growth (CAGR) of + 19.0% expected.
The cloud business market is an excellent market for cloud service providers, as many companies of different brands provide services through the cloud computing industry. This market is expected to grow further in North America and Europe, while significant growth is expected in APAC, Latin America and MEA. In addition, factors such as automation and habits should provide better customer service, and price increases and return on investment are expected to contribute to market growth.
Thanks to the expansion model, hybrid computing will become a major factor in the growth of the cloud computing market over the forecast period.
The increased activity of users and network resources, constant migration to the cloud and the emergence of threatening threats encourage organizations to introduce the cloud. Industries such as healthcare, BFSI, and government, which prioritize compliance, security, and customer experience, choose the model on demand. Leading cloud service providers focus on improving their presence in bird-covered spaces; For example, IBM acquired Red Hat. The acquisition helped IBM gain access to Red Hat's largest customer base and portfolio.
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Key Market Segments:
Key Market Player:
AWS (US), Microsoft (US), Google (US), Alibaba (China), SAP (Germany), IBM (US), Oracle (US), VMware (US), Rackspace (US), Salesforce (US), Adobe (US), Verizon (US), CenturyLink (US), Fujitsu (Japan), and NTT Communications (Japan).
By Service Model:
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
By Deployment Model:
- Storage, Backup, and Disaster Recovery (DR)
- Application Development and Testing
- Database Management
- Business Analytics
- Integration and Orchestration
- Customer Relationship Management (CRM)
- Enterprise Resource Management (ERM)
- Collaboration and Content Management
- Others (Networking, Supply Chain Management (SCM), Security, and Others)
By Organization Size:
- Public Cloud
- Private Cloud
- Hybrid Cloud
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecommunications
- Government and Public Sector
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Energy and Utilities
- Media and Entertainment
- Others (Education, and Travel and Hospitality)
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Need for utilizing existing resources efficiently to drive the adoption of cloud computing services
- North America
- Asia Pacific
- Rest of the World (RoW)
Organizations with personnel from 1 to 999 are classified under the SME section. Cloud-based business services are quickly deployed by SMEs for their simplicity and flexibility; Demand is expected to grow during the forecast period. Benefits such as scalability, flexibility, post-pay models, cost savings, and personalization, such as business requirements, make it easy to deploy cloud services to SMEs.
Asia Pacific (APAC) will grow at its highest CAGR over the forecast period
The growing interest in business and the active exploitation of SMEs and large enterprises for entry and development in this area are just some of the factors that affect the use of cloud computing in this area. In particular, the public cloud service has gained immense popularity at APAC as telecommunications companies strive to develop their digital projects. With the drive to increase sales and customer satisfaction, cloud computing has become the cornerstone of many businesses today. Organizations are working to improve application performance and provide good customer service.
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Table of Content:
Chapter 1 Global Cloud Computing Service Market Overview
Chapter 2 Global Economic Impact on Cloud Computing Service Industry
Chapter 3 Global Cloud Computing Service Market Competition by Manufacturers
Chapter 4 Global Cloud Computing Service Production, Revenue (Value) by Region
Chapter 5 Global Cloud Computing Service Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Cloud Computing Service Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Cloud Computing Service Market Analysis by Application
Chapter 8 Cloud Computing Service Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Cloud Computing Service Market Forecast
Chapter 13 Appendix
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