Global Cloud Computing market revenue to reach US$ 1200 Bn by 2028: Ken Research

What is the Size of Global Cloud Computing Industry?

Global Cloud Computing market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.

The Cloud Computing Market is largely driven by 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 is expected to drive market growth in the near future.

The widespread adoption of AI and ML technologies in businesses has increased data usage, which has further boosted big data services. This increased consumption of data and the requirement of efficient computational solutions for AI and ML is expected to create a larger opportunity space for Cloud Computing service providers.

Cyber-attacks pose a major threat to cloud operations. Additionally, the lack of resources and technical skills required to operate cloud platforms and infrastructure pose challenges to the market growth

The Covid-19 pandemic accelerated the demand for collaboration solutions, remote-working models, and remote IT services, which in turn created a greater demand to utilize and adopt cloud computing solutions across different industry verticals.

With the substantial increase in the demand for streaming platforms, such as Amazon Prime, Disney+, Twitch, Netflix, Hulu, YouTube, and Apple TV and the surge in Video-on-Demand (VoD) has augmented the demand for Infrastructure as a service (IaaS) to tackle consumer demands.

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Global Cloud Computing market by service

The Global Cloud Computing market is segmented by Service into IaaS, PaaS & SaaS.

The SaaS segment dominated the market among services of the Global Cloud Computing Market in 2022.

SaaS products are expected to witness strong growth in the forthcoming years as their total cost of ownership (TCO) will be equal to that of the on-premise deployment models. The increasing number of businesses offering cloud-based services and increasing preferences for SaaS delivery models are expected to accelerate SaaS segment growth throughout the forecast period.

SaaS offers a pay-as-you-go model that gives organizations greater flexibility and web-based subscriptions to access the program remotely. The SaaS delivery model focuses on delivering software solutions that have the potential to reach a wider audience.

Global Cloud Computing market by deployment

The Global Cloud Computing Market is segmented by Deployment on the basis of private, public and hybrid.

The Hybrid segment accounted for the majority share among deployment modes of the Global Cloud Computing Market in 2022 and is expected to showcase the highest growth rate during the forecast period (2022-2028).

Hybrid cloud is a cloud computing environment that practices a mix of on-premises, private cloud, and third-party, public cloud services with instrumentation between the two platforms.

A hybrid model allows businesses to significantly switch between their on-premise infrastructure and public cloud services depending on the need for sensitive data and computation.

Global Cloud Computing market by End-User

The Global Cloud Computing market is segmented by End-User into Banking, Financial, Services, and Insurance, IT and Telecom, Retail & Consumer Goods, Manufacturing, Energy & Utilities, Healthcare, Media & Entertainment, Government & Public Sector and Others.

The healthcare segment accounted for the largest market share among end-users of the Global Cloud Computing Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).

Growing adoption of artificial intelligence and machine learning solutions by various retail and healthcare service providers is expected to boost the Cloud Computing Market during the forecast period

Global Cloud Computing market by Enterprises

The Global Cloud Computing market is segmented by enterprises into SMEs and Large enterprises.

Large enterprises segment captured the largest market share among enterprise segments of the Global Cloud Computing Market in 2021 and is expected to showcase the highest growth rate during the forecast period (2022-2028).

The adoption of cost-efficient cloud solutions in the large enterprises segment is growing due to lesser downtime, and fewer expenditures than internal servers.

 Cloud computing solutions prevent conflicts and complications arising due to large sets of data gathered from large enterprises by enabling better data and document control.

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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.