Community Cloud Market a Huge Opportunity for Investors by 2023-2032

The demand for high performance with low latency infrastructure in businesses for achieving high efficiency and shared concerns for data redundancy, security, and compliance among business are some of the factors driving the growth of community cloud market. In addition, community cloud helps in further reduction of infrastructure cost as the cost incurred is shared among different stakeholders, thus propelling the market growth.

However, security concerns toward the enterprise data in a shared environment is a factor hampering the growth of the market. Furthermore, government initiatives for adoption of community cloud technology in private and public sector and investment in cloud technology by research and education sector are expected to provide lucrative opportunities to the growth of the community cloud market.

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COVID-19 scenario analysis:

• At the very beginning of 2020, COVID-19 virus infection began to spread around the world and millions of people across the globe were infected with COVID-19 disease, and major countries around the globe have implemented lockdowns and ordered industries to adopt online mode of operations. Except for the healthcare and hospitality industries, most industry sectors have been significantly impacted resulting to the downfall fall of community cloud market.

• With the adoption of latest technologies while optimizing the cost, community cloud has emerged as a solution for data storage to various businesses. The concept of community cloud for storing data and shared by various organizations with same interests has fueled the growth of market in the pandemic situation. The government initiatives toward the adoption of community cloud also propel the market growth.

Cloud technology has achieved great significance, which led to the rapid increase in use of cloud technology in different industry verticals. Businesses manage and depend on large amount of data for quality assurance and services. Sharing common cloud model is a new trend followed by various companies. Many government offices around the world are spending a considerable amount on the adoption of these technologies, which propels the growth of the market. Growing need for single regulatory and network security standard around the world is a significant factor for the growth of community cloud market.

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Asia-Pacific is projected to be the fastest growing markets for the community cloud market. Major countries in the Asia-Pacific region include China, Japan, India, South Korea, and Australia. Most of these countries are either developed or in developing stage and are emerging as the largest users of advanced technologies. These emerging economies in the Asia-Pacific region are major contributors in the adoption of latest technology because of population factor. In addition, government initiative to promote technological advancement in this region is also one of the important factors to the growth of the community cloud market.

A community cloud in information processing is a joint effort where common infrastructure is being shared between various organizations from a particular community with common concerns such as security, compliance, jurisdiction, and others. These community clouds are managed internally or by third-party service providers. Community cloud is controlled and utilized by a group of companies that share a common interest. The expenses are spread over fewer users than a public cloud, so only some of the cost savings possibilities of cloud computing services are implemented. Community clouds are frequently designed for businesses and organizations together working on collaborative projects, applications, or research that requires a central cloud computing service for building, managing, and executing projects, irrespective of the solutions leased for specific period. Some of the advantages of community cloud include cost effective, flexible & scalable, security, and sharing infrastructure.

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Key benefits of the report:

• This study presents analytical depiction of the community cloud market along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.

• The current market is quantitatively analyzed to highlight the community cloud market growth scenario.

• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.

• The report provides a detailed market analysis based on the present and future competitive intensity of the community cloud market.

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