Cloud Computing Market Forecast In-Depth Analysis & Global Forecast to 2030

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Market Segmentation 

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.

Regional Insight 

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. 

Leading Players 

Notable companies active in the cloud computing industry are Adobe Systems Inc, Dell EMC Corp., SAS Institute Inc, Oracle Corporation, Alibaba Group Holding Ltd., Alphabet Inc, Salesforce.com Inc., SAP SE, Microsoft Corporation, IBM Corporation, TIBCO Software Inc, Amazon.com Inc., Cisco Systems Inc., VMware Inc., Rackspace Inc., to list a few.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/cloud-computing-market-1013

 

About Market Research Future:

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