Global Cloud Professional Services Market Will Reach to USD 15936.96 Million by 2026: Facts & Factors

According to a research report published by Facts and Factors, the global cloud professional services market in 2019 was approximately USD 4486.82 Million. The market is expected to grow at a CAGR of 19.8% and is anticipated to reach around USD 15936.96 Million by 2026.

Cloud-based professional services include cloud assessment & implementation services, data center designing, implementation and migration services, and infra health audit/assessment services amongst other services. It assists in enhancing efficiency, accelerates cloud automation, and reduces risks. Nowadays, every industry has opted for software solutions for making their business operation easy. In businesses, mostly the cloud-deployed solutions are being preferred as it is easy to access and cost-effective.

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Recently, the growing demand for cloud professional services from the various industry verticals has accelerated the growth of the market rapidly. It is due to the high adoption of cloud-based solutions over on premise-based solutions owing to its easy maintenance, easy accessibility and cost-effective. Moreover, the rise in technological advancements in emerging economies such as India and China has raised the number of small and medium enterprises. The high demand for cloud-based solutions and services from both the large and numerous small & medium enterprises has expanded the market growth over the years. However, the rising concerns regarding security hindered this market growth. In addition, increasing development towards the private cloud for protecting information networks, improving data safety measures have encouraged the private cloud market services. Thereby, certain factors are anticipated to expand the market over the forecast period.

Some of the essential players operating in the cloud professional services market, but not restricted to include Accenture, Alphabet, Inc., Amazon.com, Inc., ATOS SE, Capgemini, Cisco Systems, Inc., HP, IBM Corporation, Microsoft Corporation, Oracle, Rackspace, Inc., SAP AG, and VMware, Inc. among others.

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The global cloud professional services market is segmented based on service type, service model, deployment model, and application. Based on the service type, the global market has been bifurcated into consulting, integration, deployment & support. The consulting services include training services, advisory services, assessment, and risk evaluation services. The integration services include cloud migration and up-gradation services, application design and development services, and application performance testing services. The deployment and support services include application monitoring, and optimization services, network, and storage security services, data backup and recovery services, compliance, and security management. In terms of service model, the global market is categorized into PaaS, SaaS, and IaaS. PaaS holds the largest market share owing to progressive developments in communication and technology industry throughout the world. The SaaS will register high market growth over the coming years owing to the growing adoption of such a model among SMEs. The IaaS is also anticipated to register high market growth in future years as it has been highly adopted by enterprises of all sizes to improve agility. Based on the deployment model, the global cloud professional services market is divided into public, private, and others. Furthermore, the global cloud-based professional market has been fragmented into banking, and insurance (BFSI), government & education, IT & telecom, healthcare, energy & utilities, manufacturing, retail, media & entertainment, and others.

In terms of geography, the cloud professional service market is classified into North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific. In 2019, North America is dominating the regional markets for cloud professional services owing to its high adoption of cloud-based solutions in developed economies such as the U.S. and Canada. Asia Pacific is expected to be the fastest-growing market due to the rise in industrialization and urbanization. Furthermore, globalization has raised the number of small-medium enterprises in countries like India and Brazil. As a result, the growing adoption of cloud solutions by numerous small and medium firms will significantly influence the cloud professional service market demand. The five major considered regions are analyzed into major countries such as U.S., Mexico, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.

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The evolution of technology infrastructure has raised the demand for software solutions by enterprises to manage business operations easily. The software solutions are deployed into the cloud and on-premise. The cloud deployed solutions offer easy accessibility, easy maintenance and are cost-effective, whereas the on-premise solutions provide limited accessibility. Thereby, almost every size of organization is adopting cloud based solutions. As a result, an urgent surge in cloud based solutions has raised the sales of cloud based professional services such as integration of system & network, consulting & advisory services and support services. Moreover, the rise in industrialization and urbanization has increased the number of many startups who are adopting such solutions and services. Furthermore, the continuous development inclined towards cloud solutions will expand the cloud professional services market over the analysis period.

The cloud professional services market research report delivers an acute valuation and taxonomy of the cloud professional services industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the cloud professional services industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the cloud professional services industry is provided for the leading economies of the world.

The cloud professional services market is segmented based on service type, service model, deployment model, and application. On the basis of service type segmentation, the market is classified into consulting, integration, and deployment & support. On the basis of service model segmentation, the market is classified into SaaS, PaaS, and IaaS. In terms of deployment model, the market is bifurcated into public, private and others. Furthermore, the application is fragmented into banking, financial services & insurance (BFSI), consumer goods & retail, IT and telecom, healthcare, media and entertainment, government, education, energy, manufacturing and others.

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This report segments the cloud professional services market as follows:

Global Cloud Professional Services Market: By Service Type Segmentation Analysis

Consulting
Integration
Deployment & Support

Global Cloud Professional Services Market: By Service Model Segmentation Analysis

SaaS
PaaS
IaaS

Global Cloud Professional Services Market: By Deployment Model Segmentation Analysis

Public
Private
Others

Global Cloud Professional Services Market: By Application Segmentation Analysis

Banking, Financial Services & Insurance (BFSI)
Consumer Goods & Retail
IT and Telecom
Healthcare
Media and Entertainment
Government
Education
Energy
Manufacturing
Others

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