Professional Cloud Services Market Projected to Reach USD 41.59 Billion by 2023

The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Professional Cloud Services production region, major players, and product type which will provide a simplified view of the Professional Cloud Services industry. The Professional Cloud Services market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Professional Cloud Services market which will help the emerging market segments in making vital business decisions.

The global professional cloud services market was valued at USD 15.36 billion in 2017, and is expected to reach a value of USD 41.59 billion by 2023, at a CAGR of 17.72 %, during the forecast period (2018 - 2023).

Professional Cloud Services Market Segmentation:
This report on Global Professional Cloud Services market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Professional Cloud Services. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).

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Global Professional Cloud Services market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including CISCO, HP INC., COGNIZANT, ACCENTURE PLC, EMC, MICROSOFT CORPORATION, FUJITSU LIMITED, CAPGEMINI, INFOSYS LIMITED, NIPPON, HCL TECHNOLOGIES LIMITED, ORACLE, NTT DATA, ATOS, SAP SE, amongst others.

Growth in Adoption of Cloud Services has led to the Growth of Professional Cloud Services
According to NASDAQ, the revenues for cloud services grew by 60% in 2015. Furthermore, cloud computing is estimated to grow at a rapid rate over the next five years. The increased adoption of cloud based software has provided a number of benefits for companies from various industries, including the ability to use software from any device, either through a native app or through a browser. It is estimated that more than USD 70 billion revenue was generated from the SaaS segment in 2015. By 2016, an 11% shift of IT budget away from traditional on-premise IT delivery toward various versions of cloud computing as a new delivery model is expected. By 2020, more than 65% of enterprises are expected to have, at least, half of their infrastructure on cloud-based platforms

Hybrid Cloud is expected to have High Growth in the Market Owing to Various Advantages
Over many years, cloud has been the preference and focus of the IT decision makers and corporate, however, the extremely security-conscious companies have been hesitant to move their data and workloads into cloud. With technological innovations and advancements behind professional cloud services being available for deployment inside organizations, a new model of cloud is gaining a foothold in business, i.e., hybrid cloud.

Hybrid cloud is a combination of a public cloud provider, such as Google cloud, Amazon web services with a private cloud, i.e. designed to be used by a single organization. By allowing workloads to move between public and private clouds, as computing needs and costs change, hybrid cloud has led businesses to achieve greater flexibility, and more data deployment options. This deployment model helps businesses to take advantage of secured applications and data hosting on a private cloud, while, still enjoying the cost benefits by keeping shared data and applications on the public cloud. Hence, the cloud migrates workloads between public and private hosting, without creating any inconvenience to the users.

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This independent 107 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Professional Cloud Services market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2023.

Key Developments in the Market
• March 2018 - Avaya has continued its growth in Australian market through the launch of unified communications and contact center in cloud form. This deployment of services is with the mid-level market and Avaya has been aiming at delivering more customized and flexible solutions
• February 2018 - TeraGo had announced its addition of managed services to the AWS cloud services. This has enabled the TeraGo consumers to leverage the cloud and also ensures in the seamless migration and management of company assets
• July 2017 - Google had started the deployment of cloud services in India. As a part of this service Google will be training the work force of major companies. Google had invested about USD 30 billion on its cloud platform

Reasons to Purchase this Report
• Growing adoption of cloud services acts as a driver to the global Professional Cloud Services market scenario
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• The End-user that is expected to dominate the market is analyzed in detail
• The regions that are expected to witness fastest growth during the forecast period are analyzed and estimated for growth
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel

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This release was published on openPR.