Cloud Services Market Is Booming Worldwide by 2027 | IBM; Microsoft; Amazon; Google; Salesforce

Cloud Services Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

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The global cloud services market is expected to grow from $396.1 billion in 2020 to $467.34 billion in 2021 at a compound annual growth rate (CAGR) of 18%.

Top leading Companies Profiled in Cloud Services Market Report are IBM; Microsoft; Amazon; Google; Salesforce

Markets Segmentation:

1) By Type: Software as a service (SaaS); Platform as a service (PaaS); Infrastructure as a service (IaaS); Business Process as a service (BPaaS)

2) By End-User Industry: BFSI; Media And Entertainment; IT and Telecommunications; Energy And Utilities; Government And Public Sector; Retail And Consumer Goods; Manufacturing; Others

3) By Application: Storage, Backup, and Disaster Recovery; Application Development and Testing; Database Management; Business Analytics; Integration and Orchestration; Customer Relationship Management; Others

4) By Deployment Model: Public Cloud; Private Cloud; Hybrid Cloud

5) By Organisation Size: Large Enterprises; Small And Medium Enterprises

Market Overview

The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $798.84 billion in 2025 at a CAGR of 14%.

The cloud services market consists of sales of cloud services by entities (organizations, sole traders and partnerships) that provide cloud services used for the delivery of information technology resources and applications on-demand through an internet platform. Companies in the cloud services market provide access to servers, storage, databases and a broad set of application services managed by a hardware networking. This market includes sales of storage servers which are used to store, access, secure and manage digital data, files and services. It also includes sales of public cloud services, private cloud services, hybrid cloud services and multi-cloud services offered by providers are included. The cloud services market is segmented into software as a service (SaaS); platform as a service (PaaS); infrastructure as a service (IaaS) and business process as a service (BPaaS).

Regional Analysis

North America was the largest region in the global cloud services market, accounting for 61% of the market in 2020. Western Europe was the second largest region accounting for 21% of the global cloud services market. Africa was the smallest region in the global cloud services market.

With technological advances in the cloud computing and continues requirement of updating in-house IT infrastructure, companies are witnessing a rising demand for public cloud platforms. A public cloud is a service based on the standard cloud computing model, in which a service provider makes resources, such as virtual machines (VMs), applications or storage, available to the general public over the Internet. Companies are increasingly opting for public cloud platforms to minimize their costs as public cloud provides services on pay-as-you-go model, the need for organizations to invest in and maintain their own in-house IT resources, and enables scalability to meet workload and user demands.

Interest rates are expected to increase in developed nations, particularly the USA and Europe, between 2018 and 2022, making it harder and more expensive for companies in capital-intensive industries such as cloud services to raise funds for investments in new technologies to deploy IoT and smart cities management. The cloud services market is characterized as requiring fair amount of capital funds to operate, renovate, innovate and expand business. Therefore, changes in the economy such as changes in interest rates are expected to greatly affect the profit margins, cost structures and expansion strategies of the companies in the cloud services market. For instance, the USA Federal Reserve is expected to increase interest rates in 2021. This will in turn hinder the operation and expansion of businesses in the cloud services market.

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Key Takeaways from Cloud Services Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Cloud Services market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Cloud Services market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Cloud Services

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In conclusion, the Cloud Services market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Cloud Services Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

Available Customization– The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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