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Europe Cloud Computing Market : Eminent Players – Alibaba Group Holding Limited, Amazon Web Services, Inc., CenturyLink, CloudSigma Holding AG, DigitalOcean, LLC, Dimension Data, Fujitsu, Google LLC, Hewlett Packard Enterprise Development LP, IBM Corpor

05-04-2021 11:59 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Europe Cloud Computing Market

Europe Cloud Computing Market

As per a recent research report by Global Market Insights, Inc., Europe cloud computing market is estimated to exceed $75 billion through 2026.

Efforts towards lowering IT infrastructure costs to foster Europe cloud computing market outlook between 2019-2026

Europe cloud computing market is set to record momentous growth on account of rapid expansion of cloud services vendors in the region. Citing an instance, in December 2018, AWS opened three data new centers in Sweden, increasing the regional availability of AWS in the country.

Additionally, another factor supporting industry expansion is the increasing adoption of cloud computing platforms. Companies in the region are making efforts to lower the costs associated with the acquisition and maintenance of IT infrastructure by moving to the cloud.

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In fact, the new AWS data centers in Sweden helped Amazon gain immense tractions in the country since several Swedish firms were shifting to cloud storage at the time.

Cloud computing platforms allow companies to store and access their information on servers. These servers are known as the cloud. The usage of cloud helps organizations to reduce their operational costs, which is why there is a general uptick in adoption of cloud.

Cloud companies provide on-demand computing resources which include networking, storage, and applications. The companies offer these resources on the basis of the pay-per-use business model. This feature enables companies to scale down or up as per their requirements.

With respect to application segment, the government sector is anticipated to majorly influence the market share between 2019-2026. The European government is increasingly taking new initiatives to promote adoption of cloud across enterprises. In fact, in February 2019, OCRE (Open Clouds for Research Environments), an EU-funded project unveiled a new tender to promote cloud adoption. The core objective of this tender was to boost cloud adoption through EOSC (European Open Science Cloud).

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Apart from introducing these norms, the growing dependence of European companies on major cloud providers of the U.S. has forced government agencies to adopt a new plan to reduce the prevalence of U.S. cloud firms in the region.

Germany and France are increasingly working for this initiative. In fact, in October 2019, France and Germany together launched a new project called Gaia-X. This project intends to innovate a safe and secure data infrastructure for Europe. It would provide a sovereign platform to offer cloud computing services across Europe and lower the region’s reliance on American cloud providers. In fact, this move is expected to further reduce the dominance of U.S cloud companies in the region.
In 2018, Germany held a considerable market share of more than 18% of the Europe cloud computing market. The country is projected to witness higher growth over the forthcoming years due to increasing cloud adoption by the country’s automotive industry for smart manufacturing.

The mounting use of the IaaS model to manage the website traffic is the major factor pushing the retail sector of application segment. The demand to deliver a smooth shopping experience on smartphones is likely to add up to the market outlook.

The retail industry is also increasingly adopting cloud computing in order to leverage consumer information for improved business intelligence. New technologies like centralized invoicing and interconnected Point-of-Sales (POS) via the cloud platform are further assisting retail companies to deliver customer service that is better.

Citing an instance, in October 2018, a Germany-based retailer, Metro AG moved over 100 business systems on the GCP (Google Cloud Platform) and SAP S/4HANA. This move allowed the retailer to offer automated digital invoices to the customers while also enhancing its invoice processing system for wholesale consumers.

In terms of organization type, large enterprises in Europe are projected to witness major growth in the forecast timeframe. Major companies present in the region are experiencing a dynamic shift to cloud computing platforms to leverage the benefits offered by CRM and ERP (Enterprise Resource Planning) solutions through virtual infrastructure.

The segment is projected to grow at a healthy CAGR of more than 13% over the forecast timeframe. Rising investments by large enterprises in cloud computing technologies would likely augment the cloud service adoption in the region.

All in all, Europe cloud computing market is set to emerge as a favorable avenue for prominent cloud service providers owing to several beneficial conditions in the region. Google, AWS, Microsoft Azure and Atos are the prominent companies that are contributing to the overall market share.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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