Cloud Computing Market to 2023 – Growing Steady at 18.0% CAGR and Projected to Reach US$ 623.3 Billion
The Global Cloud Computing Market size is expected to grow from US$ 272.0 Billion in 2018 to US$ 623.3 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 18.0% during the forecast period. Increased automation and Agility need for delivering enhanced customer experience, and increased cost savings and return on investment are the major growth factors for the cloud computing market.
Top Companies profiled in the Cloud Computing Market include are
NTT Communications (Japan)
“Retail and consumer goods vertical to grow at the highest rate during the forecast period”
The retail and consumer goods vertical is one of the fastest-growing verticals with respect to the adoption of emerging and innovative technologies, such as cloud computing, big data analytics, DevOps, digital stores, and social networks. Various factors driving this adoption are the rising purchasing power of customers and the need to satisfy customer expectations leading to the existing customer retention and new customer acquisition.
“North America to hold the largest market size and Asia Pacific (APAC) to grow at the highest rate during the forecast period”
North America is the most mature market in terms of cloud computing services adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for cloud computing vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt cloud computing services.
• To profile key players and comprehensively analyze their core competencies
• To project the size of the market and its submarkets, in terms of value, with respect to the 5 major regions (along with their respective key countries)
• To define, segment, and project the global market size of the cloud computing market
• To understand the structure of the market by identifying its various subsegments
• To provide detailed information about the key factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market
• To understand the competitive landscape and identify major growth strategies adopted by players across key regions
• To analyze the competitive developments, such as expansions and investments, new product launches, mergers and acquisitions, joint ventures, and agreements, in the cloud computing market
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Reason to access this report:
The Report will help the market leaders/new entrants in the cloud computing market with information on the closest approximations of the revenue numbers for the overall cloud computing market and the sub segments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
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