Cloud Computing Market size is projected to reach USD 611170 Million by 2027 - Valuates Reports

The global Cloud Computing market size is projected to reach US$ 611170 million by 2027, from US$ 97010 million in 2020, at a CAGR of 29.2% during 2021-2027.

Cloud Computing is a term that describes a broad range of technology services. It is often described as a stack (see diagram below), as a response to the broad range of services built on top of one another under the moniker “Cloud”.
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Global giant manufactures are mainly distributed in U.S.. The manufacturers in the U.S. have a long history and unshakable status in this field. Manufacturers such as Amazon Web Services and Microsoft Azure have relatively higher levels of product’s quality. As for Germany, SAP has become a global leader. In China, Aliyun leads the technology development.
In the current market, industry giants such as Alibaba Cloud and Tencent Cloud have backed up the Group's resource advantages and have jointly occupied a large share of the market. Alibaba Cloud already has a 43.0% share in the market, and Tencent Cloud has an 11.5% share.

Cloud Computing Market Segment by Type
Infrastructure as a Service (IaaS)
IaaS contains the basic building blocks for cloud IT. It typically provides access to networking features, computers (virtual or on dedicated hardware), and data storage space. IaaS gives you the highest level of flexibility and management control over your IT resources. It is most similar to the existing IT resources with which many IT departments and developers are familiar.
Platform as a Service (PaaS)
PaaS removes the need for you to manage underlying infrastructure (usually hardware and operating systems), and allows you to focus on the deployment and management of your applications. This helps you be more efficient as you don’t need to worry about resource procurement, capacity planning, software maintenance, patching, or any of the other undifferentiated heavy lifting involved in running your application.
Software as a Service (SaaS)
SaaS provides you with a complete product that is run and managed by the service provider. In most cases, people referring to SaaS are referring to end-user applications (such as web-based email). With a SaaS offering, you don’t have to think about how the service is maintained or how the underlying infrastructure is managed. You only need to think about how you will use that particular software
Cloud Computing Market Covid - 19 Impacts
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt and will significantly affect the Cloud Computing Service market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.

The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.

Cloud Computing Market key players
Amazon Web Services
Microsoft Azure
IBM
Aliyun
Google Cloud Platform
Salesforce
Rackspace
SAP
Oracle
Vmware
DELL
EMC


Cloud Computing Market Segment by Type
Infrastructure as a service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)


Cloud Computing Market Segment by Application
Government
Small and Medium sized enterprises
Large enterprises

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