With 23.9% CAGR, Cloud Computing Market to Reach USD US$ 1,465,818.2Mn 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.

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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.

Cloud Computing Market - Company Profiles

Amazon Web Services
Microsoft Corporation
SAP SE
IBM Corporation
com, inc.
Google LLC
Oracle Corporation
Alibaba Group Holding Limited
Adobe
Workday, Inc.

The cloud computing market is assessed on the basis of service model, deployment model, organization size, industry vertical, and geography. The market analysis by service model, the market is segmented into Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). The market analysis by deployment model, the market is bifurcated into public cloud and private cloud. Based on organization size, the market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. Based on industry vertical, the market is segmented into BFSI, IT & telecommunications, government & public sector, retail & consumer goods, manufacturing, healthcare & life sciences, and others. By geography, the cloud computing market is divided into five regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Cloud computing has numerous advantages, including eliminating costs associated with installing, constructing, and managing business operations, which are fundamental difficulties encountered by SMEs. Cloud computing also allows quick access to all technological benefits. The primary reasons that small businesses are adopting cloud computing in their organizations are as follows:

Flexibility:

Organizations can use cloud computing to react quickly according to their requirements. Cloud computing diversifies workloads across an organization and allows employees to work from anywhere. When companies use Cloud Computing, they can easily hire a lower-cost workforce. The resources can also be scaled up and down depending on the company's needs. This allows SMEs to address the needs of their customers as quickly as possible.

Better Security:

One of the most pressing issues businesses have is security. Despite online threats, regular infrastructural security is quite challenging to monitor and maintain, so cloud-based solutions are much safer than traditional solutions, especially for small-scale businesses. Large expenditures and specialization are required, which cannot be accommodated or possible for SMEs. Besides, SMEs are most prone to exposure to other security threats, such as hardware failures, power outages, and other human errors. As a result, cloud computing solutions easily overcome these security challenges because cloud computing companies have already invested time and effort in upholding security standards and operational practices.

Cost Cutting:

Small businesses are constantly looking for ways to cut costs; as a result, Cloud Computing is the best investment for SMEs because it allows them to pay as they go. It assists SMEs in reducing expenses and promoting savings by requiring them to spend only on operational costs rather than capital expenditures and removing unnecessary costs.

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Scalability:

Scalability is another benefit of cloud computing and is critical in modern business models. Modern businesses are rapidly expanding, and various cloud computing resources allow for scalability due to factors, such as storage, features, and the number of users.

Major Key Points of Cloud Computing Market

Cloud Computing Market Overview
Cloud Computing Market Competition
Cloud Computing Market, Revenue and Price Trend
Cloud Computing Market Analysis by Application
Company Profiles and Key Figures in Cloud Computing Market
Market Dynamics
Methodology and Data Source

Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position is explained to help make a well informed decision. Competitive landscape of Brown Sugar market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

NOTE: Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 analysis of markets and industries. Cordially get in touch for more details.

TABLE OF CONTENTS

Introduction

Key Takeaways

Research Methodology

Cloud Computing Market Landscape

Cloud Computing Market - Key Market Dynamics

Cloud Computing Market - Global Market Analysis

Cloud Computing Market - Revenue and Forecasts To 2028 - Segmentation

Overview

Cloud Computing Market Revenue and Forecasts To 2028 - Geographical Analysis

Industry Landscape

Cloud Computing Market, Key Company Profiles

Appendix

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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, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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