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Public Cloud Service Market to close to US$ 640 Bn with CAGR of 19.7% between 2017-2022
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Factors Fuelling Growth of the Global Market
Increasing demand for gadgets with enhanced connectivity and features has led to an upsurge in demand for public cloud services among manufacturers in the electronic industry. Public cloud services are also projected to witness significant adoption in various commercial organizations to extend access of important documents and business related files with the employees. In addition to increasing use in the electronic industry, public cloud services is projected to witness significant demand in the healthcare sector.
As customers prefer fast and cost-effective treatment services, various healthcare organizations continue to adopt technically enhanced services, such as public cloud services. The public cloud services enables patients and healthcare professionals to store and access all the treatment related data in the healthcare industry. Adoption of the public cloud services is projected to significantly add to the healthcare services, as patients can access doctors and treatments seamlessly. Increasing trend of accessing virtual care is projected to continue in various healthcare organizations. Attributed to its secure features, several healthcare organizations witness significant adoption of cloud-based services to maintain the patient records and data related to the treatment process in a transparent and secure manner.
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Cloud Advertising to Represent a Leading Segment
Increasing advancements in technology has led to surge in use of big data and e-commerce platforms. Attributed to growing developments in technology, the advertising companies are adopting the cloud services to connect with the customers and also control the costs related to the services in various ways. In terms of revenue, the cloud advertising segment as compared to other types segment is projected to represent a relatively high revenue growth, representing more than US$ 24,000 Mn in the global market of public cloud service by the end of 2017. However, as compared to other types segment, the cloud enterprise type services segment is projected to reflect a relatively high CAGR through 2022. The market in North America will remain a leading segment for sales of public cloud services globally.
Market Players
Major players in the global market of public cloud services are Microsoft Corp., Alphabet, Inc., Machines Corp., International Business, CenturyLink, Inc., Oracle Corp., salesforce.com, Inc., Amazon Web Services Inc, Adobe Systems, Inc., Red Hat, Inc., and VMware, Inc.
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