Private Cloud Services Market is set to experience revolutionary growth by 2023 , Says Allied Market Research

Reduction in investment for new hardware and pay-as-you-go deployment model in private cloud along with demand for Low-cost and Secured IT operations fuel the growth in the Private Cloud Services market. However, unavailability of IT Infrastructure in the underdeveloped countries hinder the market growth. On the other hand, technological advancements resulting in enhanced security and better reliability & scalability of private cloud services create new opportunities in the market.

Regionally, North America contributed the major market share in 2017, accounting for more than one-third of the total Private Cloud Services market share. This region is expected to continue its dominant position throughout the forecast period. Contrarily, Asia-Pacific region would register the highest growth rate with a CAGR of 5.9% from 2017 to 2023.

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The global private cloud services market garnered $4.47 billion in 2017, and is expected to reach $14.11 billion by 2023, registering a CAGR of 21.1% from 2017 to 2023. The research offers an extensive analysis of changing market trends, major segments, top investment pockets, key winning strategies, and competitive scenario.

The key players profiled in the study are Cisco Systems, Inc., Dell Inc., HP Inc., IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Red Hat, Inc., Salesforce.com, Inc., and VMware, Inc. All these players are involved in the competitive strategies, such as geographical expansion, mergers & acquisitions, product portfolio expansion, and partnership to augment the private cloud services market growth.

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On the basis of user type, the large enterprises segment contributed to the major market share in 2017, accounting for nearly three-fifths of the Private Cloud Services market, and will continue to contribute its dominance during the forecast period. However, the SMEs segment is projected to register the fastest CAGR of 21.7% during the forecast period.

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Based on services, the SaaS segment held the largest revenue share in 2017, contributing nearly three-fifths of the total share. This segment is expected to continue its lead position throughout the forecast period. On the other hand, the PaaS segment would grow at the highest CAGR of 28.3% from 2017 to 2023.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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