Market Research Future (MRFR) anticipates robust prospects for the cloud computing market 2020, which is set to advance at a rate of 19.4% between 2018 and 2024. MRFR also projects the market to touch a remarkable valuation of USD 340.5 Billion by 2024-end. We will provide covid-19 impact analysis with the report. The COVID-19 mobile gaming market research offers an in-depth analysis following the coronavirus disease outbreak.
The cloud computing market has been considered for service model, deployment model, and organization size.
The COVID-19 cloud computing services discussed in the review are Infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS). In 2018, the SaaS segment led the global market with a share of of 58% and can expand at a strong growth rate in the coming years. The IaaS segment can take the second lead and record the fastest expansion rate during the appraisal period.
The deployment modes taken into account include public, hybrid and private cloud. In 2018, public cloud emerged as the leading segment and is presumed to achieve a growth rate of 20% over the forecast timeframe. The second-largest portion of the global marked belonged to the hybrid cloud segment in 2018, which is set to procure the highest CAGR in the next several years.
The organization sizes covered in the study are small & medium-sized enterprises as well as large enterprises. In 2018, large enterprises segment dominated the market and has the potential to advance at a rate of 19% in the upcoming period. The SMEs segment can however, make headway at the highest growth rate over the given timeframe.
The verticals that use the cloud computing technology are retail and consumer goods, government and public sector, media and entertainment, energy and utilities, healthcare and life sciences, IT and telecommunications, banking, financial services and insurance (BFSI), manufacturing, and others. While the BFSI segment held the biggest share in the market in 2018, the manufacturing segment came second. However, the fastest gaining segment can be retail and consumer goods during the evaluation period.
Asia Pacific (APAC), the Middle East & Africa or MEA, South America, North America, and Europe are the regions where the cloud computing market size has been evaluated by MRFR.
As of 2018, North America emerged as the most successful market and can note sustainable growth between 2019 and 2024. The rapid migration of companies towards cloud computing services in
Canada, Mexico and the US is one of the prime reasons for the robust market growth in the region. While the region is struggling to achieve a covid-19 breakthrough, companies are leveraging the benefits of cloud computing to remain afloat in the face of the crisis. For instance, IBM is providing enterprises the ability to develop virtual server configurations; offering access to cloud services for team collaboration and file sharing; in addition to supplying their event management solution to diagnose, resolve and prioritize incidents.
The APAC can post a tremendous growth rate of 22.1%, which is the highest out of all the regions. India, Japan, and China are the leading revenue generating markets in the region. The uptake of the cloud technology in the region is anticipated to surge in industries where the work from home initiative has become the basic form of operating, some of which are telecommunication, IT & ITeS, government and BFSI. Post COVID 19 cloud computing market share is expected to expand further in the region, backed by the solid efforts given by the renowned players like Alibaba Group Holding Limited, Chief Telecom Inc., FUJITSU and China Telecom Americas, to provide advanced cloud computing services at competitive prices.
The key players of the global cloud computing industry are Amazon.com Inc., Microsoft Corporation, Alphabet Inc, Oracle Corporation, Cisco Systems, Inc., Salesforce.com, Inc., SAP SE, VMware, Inc., IBM Corporation, Alibaba Group Holding Ltd., Rackspace Inc., Adobe Systems Inc., SAS Institute Inc, Dell EMC Corp.and TIBCO Software Inc.
About Market Research Future:
MRFR identified some notable players in the big data as a service market. They are Microsoft Corporation (U.S.), SAS Institute (U.S.), SAP SE (Germany), Google (U.S.), IBM (U.S.), Cazena (U.S.), Amazon Web Services (U.S.), Arcadia Data (U.S.), Oracle Corporation (U.S.), Hewlett-Packard (HP) (U.S.), DataHero (U.S.), DataTorrent (U.S.), Teradata Corporation (U.S.), VMware, Inc (U.S.), New Relic (U.S.), Tableau Software (U.S.), and Splunk (U.S.) among others. These players are invested in innovations and high research and development activities. Marketer are focused in the introduction of cost-effective product portfolio that can favour the big data as a service market. Strategic partnerships, mergers, and other types of pact and deals are signed by major marketers to enhance their global influence and gain global foothold.
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