Cloud Computing Market is expected to reach US$ 1,465,818.2 Million by 2028

According to our new research study on "Cloud Computing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Service Model, Deployment Model, Organization Size, Vertical, and Geography," the market is projected to reach US$ 1,465,818.2 million by 2028 from US$ 405,295.8 million in 2022; it is estimated to grow at a CAGR of 23.9% from 2022 to 2028. COVID-19 Outbreak Fuels Demand for Cloud-based Solutions Provide Growth Opportunities for Cloud Computing Market during 2022-2028

Get a Sample PDF https://www.theinsightpartners.com/sample/TIPRE00012754/?utm_source=OpenPR&utm_medium=10593

Cloud Computing Market - Company Profiles
• Amazon Web Services
• Microsoft Corporation
• SAP SE
• IBM Corporation
• Salesforce.com, inc.
• Google LLC
• Oracle Corporation
• Alibaba Group Holding Limited
• Adobe
• Workday, Inc.

The costs of data hosting on-premises, both in terms of implementation and maintenance, are a concern for businesses. Moreover, electricity costs, employee expenses, and downtime issues are other concerns for enterprises. For better productivity, startups and SMEs are shifting their business models to online and cloud.

Furthermore, the current competitive environment and global economic conditions have accelerated the uptake of a cost-effective business model. The shift of businesses toward digital transformation, enhanced customer experience, and reduced enterprise cost positively impacted cloud computing market growth. For instance, the pay-as-you-go model allows companies to pay for cloud services only when they use them, resulting in lower costs.
The onset of the COVID-19 crisis in 2020 led to a speed-up in the Information & Technology (ICT) and its infrastructure activities worldwide. Strict government regulations have led many industrial verticals to shift their business models. Thus, many enterprises across verticals have adopted the work from a home model to maintain operational efficiency and employees' safety, surging collaboration-based solutions, such as Software-as-a-Service (SaaS). The global lockdown, caused by the COVID-19 outbreak, forced a large share of the population to stay at home, fueling the popularity of video-on-demand (VoD), thereby increasing the need for IaaS. Companies that provide video-on-demand (VoD) services, such as YouTube, Netflix, Amazon, Hulu, Twitch, Disney+, and Apple TV, are expanding their offerings to meet customers' needs. Many organizations have increased their cloud spending budget by more than 50% amid COVID-19. Thus, the COVID-19 crisis is leading to an increased pace of cloud adoption, supporting the market substantially.

For Instant support, We are live and ready to chat with you now - https://tawk.to/chat/5d5a708ceb1a6b0be6083008/default?utm_source=Openpr&utm_medium=10593&utm_id=CloudComputingMarket

Market Insights- Cloud Computing Market
Service Model-Based Insights

The cloud computing market analysis by service model, the cloud computing market is segmented into Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a service (SaaS). The SaaS segment accounted for the highest cloud computing market share in 2021. A software distribution model in which a cloud service provider hosts services is known as Software as a Service (SaaS). These services are accessible to end users over the Internet. Therefore, end users do not need to install any software on their devices to utilize them. A SaaS provider offers various business services to help a company get started. ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), billing, and sales are examples of SaaS business services. SaaS document management is a software program provided by a third party (SaaS providers) for creating, managing, and tracking electronic documents. SaaS services are provided on a one-to-many basis, which implies that several users share a single application instance. The robust features of the SaaS model contribute to the cloud computing market growth during the forecast period.

Players operating in the cloud computing market are mainly focused on developing advanced and efficient products.

In 2022, Best Buy Co., Inc. chose Amazon Web Services, Inc. (AWS) as its preferred cloud provider for cloud infrastructure services and a key partner for developing cloud engineering expertise. This partnership will enable Best Buy to expand its use of cloud technologies across its retail operations and improve consumer experiences.

In 2022, IBM and SAP partnered to deliver technology and consulting expertise to help clients adopt a hybrid cloud strategy and migrate mission-critical workloads from SAP solutions to the cloud for regulated and non-regulated industries.

In 2021, Amazon Web Services, Inc. (AWS) launched four new initiatives to empower learners and make it even easier for anybody willing to learn to access free cloud computing skills training and open up new job opportunities in the cloud computing market.

Directly Purchase a copy of this research study @ https://www.theinsightpartners.com/buy/TIPRE00012754/?utm_source=OpenPR&utm_medium=10593

Note: If you have any special requirements related to Cloud Computing Market Report please let us know and we will offer you the report as you want.

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

This release was published on openPR.