Global Cloud Computing market expected to record a CAGR of ~15% during the forecast period (2017-2028): Ken Research

The Global Cloud Computing market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.

North America accounted for the largest share among all regions within the Cloud Computing Market in 2022.

North America is also expected to dominate the market in terms of revenue during the forecast period due to the early adoption of technologies such as Artificial Intelligence, robotics, IoT, and cloud. The presence of prominent cloud providers, including IBM Corporation, Microsoft Corporation, Oracle Corporation, and others contribute to the region's demand for cloud-based solutions. The cloud service providers focus on investing in technical skills, partnerships, and expansion of cloud centers.

The use of cloud-based solutions in developing nations like India, China, Brazil, and Africa is expected to grow in the market. As developing economies, these countries require cost-effective infrastructural solutions due to a lack of adequate technologies and finance. By utilizing cloud solutions, developing nations have managed to reduce their IT expenditures during the COVID-19 pandemic situation. Organizations are fully able to utilize on-demand, scalable cloud models to achieve cost-effectiveness and business continuity to accelerate their aims for digital business transformation.

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Competition Scenario in Global Cloud Computing market

The Global Cloud Computing Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in a cloud-based solution, and technologies. The Cloud Computing market's growth is heavily reliant on IoT-based applications. Nowadays, numerous cloud-based companies, including Amazon, Google, HPE, Oracle, and IBM collaborate and acquire companies to expand their presence in Cloud Computing. The company focuses on cloud solutions and services are constantly focusing on R&D activities, product enhancements, and new product launches with the integration of big data, artificial intelligence, and machine learning.

Country-Niche players constitute about ~60% of the total competitors, while regional players comprise a share of ~30%. Some of the major players in the market include Microsoft, AWS, Salesforce, Oracle, SAP, Google, Workday, Adobe, IBM, Alibaba, VMware, and HPE among others.

What is the Expected Future Outlook for the Overall Cloud Computing Market Across the globe?

The Global Cloud Computing market was valued at USD ~billion in 2021 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Cloud Computing market is driven by factors such as the growth in big data and higher adoption of artificial intelligence and machine learning. Moreover, the adoption of cloud-based solutions in developing economies such as India, China, Brazil, and Africa are expected to drive market growth in the near future. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

Merger and collaboration among companies will also affect the Cloud Computing market as it will enhance the productivity and reduce the cost. For Instance, In July 2022, Oracle collaborated with Claro, a Mexican telecom group. This collaboration focused on jointly offering

Oracle Cloud Infrastructure (OCI) services to the public as well as private sector organizations and enterprises in Colombia. In addition, the collaboration would accelerate the technology modernization of businesses and customers across Latin America. The collaboration with Claro is also expected to accelerate cloud adoption, stimulate economic recovery, and spur competitiveness in these nations.

The Global Cloud Computing Market is forecasted to continue rapid growth, which is primarily driven by the integration of Big Data, Artificial Intelligence, and Machine Learning with the cloud. The market size is estimated to be USD ~ Bn by 2022 and is expected to reach USD ~ Bn by 2028 growing with a CAGR of ~%. North America is the dominant region in the globe however Asia Pacific region is expected to grow at a higher pace. Though the market is highly competitive with ~500 participants, few global players control the dominant share and regional players also hold a significant share.

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Key Topics Covered in the Report

Snapshot of Global Cloud Computing Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Cloud Computing Market
Historic Growth of Overall Global Cloud Computing Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Cloud Computing Industry
Overview, Product Offerings, and SWOT Analysis of Key Competitors
Covid 19 Impact on the Overall Global Cloud Computing Market
Future Market Forecast and Growth Rates of the Total Global Cloud Computing Market and by Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Cloud Computing Market
Major Production / Consumption Hubs in the Major within Each Region
Major Production/Supply and Consumption/Demand Hubs within Each Major Country
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region 

Leading Companies Mentioned in the Report

Microsoft Corporation
Amazon Web Services
Salesforce. Com, Inc.
Oracle Corporation
Systems, Application & Products in Data Processing
Google LLC
Workday Inc.
Adobe System Incorporation
International Business Machines
Alibaba Group Holding Limited
Virtual Machine Software
Hewlett Packard Enterprise

Notable Emerging Companies Mentioned in the Report

OutSystems
Onecloud
IntelePeer
Nodejitsu Inc.
Activestate
The cloud Connectors
Gogiro
Hexagon data
Power Host
IDESK
MCM Telecom

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Cloud Computing Solution Companies
Cloud Computing Platform Companies
Potential Investors in Cloud Computing Companies
ML Solutions and Service Providers
Government Ministries and Departments of Information Technology
AI Solution Providers
Potential Investors for AI
Cloud-based Developers
Institutional Investors
Investors and Financial Community Professionals
Investment Funds
Cloud Computing Research Organizations
Research & Development Institutes
Cloud Computing Association 

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below:-

https://www.kenresearch.com/business-research/global-cloud-computing-market-outlook-2028/

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.