Europe Cloud Computing Market Demand, segments, Opportunity and Top Key Players: IBM, Amazon, CenturyLink, Dimension Data, DigitalOcean, Google, Microsoft , OVH , CloudSigma
Organizations deploy these platforms to consume a compute resource, such as Virtual Machine (VM), application, or storage rather than building computing infrastructures in-house. Additional benefits that have fueled the adoption of cloud platforms include the elimination of massive investments in local infrastructure, self-service provisioning, workload resilience, and enables the easy migration of certain workloads to or from the cloud.
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Furthermore, the Europe cloud computing market growth is also triggered by the support from various government-led initiatives. For instance, the European Commission has established the European Cloud Computing Strategy (ECCS) to promote the adoption of cloud computing services. The strategy’s objective is to create 3.8 million new jobs and help the GDP increase to 957 billion euros by 2020.
In September 2017, the European cloud infrastructure providers have also accepted the proposed regulation on the Free Flow of Data in the EU. The proposed regulation is a major step for Europe’s cloud industry to create an integrated Digital Single Market.
Another factor accelerating the growth of the cloud computing market in Europe is the increasing trend of outsourcing cloud computing services. Companies are outsourcing cloud services to reduce the dependency on local servers and minimize the costs associated with handling and management of the infrastructure. However, data security has is one of the biggest concerns for the enterprises.
As data is being collected and used on a massive scale, cloud platforms offer challenges in terms of protecting the personal data. As a result, in May 2018, the General Data Protection Regulation (GDPR) came into effect and focused on the standardization of data protection laws in all EU countries. The regulation also provided strict guidelines for the companies that process and manage the data.
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As per the deployment model, organizations are readily adopting hybrid cloud models to run their mission-critical applications and workloads on the private cloud and make use of public cloud services to handle complex tasks in demand. The increased interest in hybrid cloud is dictated by the desire to enhance business agility and improve the speed of deployment of applications.
The BFSI vertical has witnessed the heavy adoption of cloud technologies. In December 2017, the European Banking Federation launched the EBF Cloud Banking Forum to support the deployment of cloud solutions in the banking sector.
The Forum also supported an informed dialogue between banks and cloud service providers to deliver recommendations for supervisors regarding access rights and audits, pooled audits, life-cycle management, and reporting of outsourced activities.
Some of the leading European players operating in the cloud computing market are Amazon Web Services, CenturyLink, DigitalOcean, Dimension Data, Google Compute Engine, IBM SoftLayer, Microsoft Azure, OVH, Rackspace, 1&1, and CloudSigma.
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