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Global Public Cloud Service Market 2023: Trends and Forecast for the Future | Alphabet, Microsoft, IBM, Oracle
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Firstly, one of the main factors driving the growth of the public cloud service market is the increasing adoption of cloud computing by businesses across various industries. Organizations are recognizing the benefits of migrating their IT infrastructure to the cloud, including reduced operational costs, enhanced agility, and improved scalability. Public cloud services offer a range of solutions that can cater to different business needs, making it an attractive option for companies of all sizes.
Companies
Alphabet, Inc.
Microsoft Corp.
International Business Machines Corp.
Oracle Corp.
CenturyLink, Inc.
Amazon Web Services Inc
Salesforce.com, Inc.
VMware, Inc.
Adobe Systems, Inc.
Red Hat, Inc.
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Secondly, advancements in technology have played a crucial role in the expansion of the public cloud service market. The development of high-speed internet connectivity, improved security measures, and the emergence of advanced data management and analytics tools have made it easier for businesses to embrace cloud services. These technological advancements have addressed concerns related to data privacy, reliability, and performance, making the public cloud a more viable and trusted option for organizations.
Another significant driver of the public cloud service market is the growing demand for digital transformation. As businesses strive to stay competitive in a rapidly evolving digital landscape, they are increasingly relying on cloud services to support their digital initiatives. Public cloud platforms provide the necessary infrastructure and tools to enable businesses to leverage emerging technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT), empowering them to innovate and deliver enhanced customer experiences.
Furthermore, the COVID-19 pandemic has accelerated the adoption of public cloud services. With remote work becoming the new norm, organizations needed to quickly adapt to ensure business continuity. Public cloud platforms offered a scalable and secure environment for remote collaboration, enabling employees to access critical data and applications from anywhere. This increased reliance on cloud services during the pandemic has further fueled the growth of the public cloud service market.
Significant Demand in the Healthcare Industry
Public cloud services are expected to witness significant adoption in the healthcare industry. With growing demand for easy access to patient and treatment related data in a cost-effective and secure manner, various healthcare organizations continue to adopt public cloud services.
Public cloud service platform enables patients to maintain the confidentiality of data related to the treatment. Growing trend of virtual care in the healthcare industry is expected to impact growth of the global public cloud service market positively.
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Market Segmentation
Region
North Americ
Latin America
Europe
Japan
APEJ
MEA
Type
Cloud Business Process Services (BPaaS)
Cloud Application Services (SaaS)
Cloud Application Infrastructure Services( PaaS)
Cloud System Infrastructure Services(IaaS)
Vertical
Government
BFSI
Healthcare
Telecommunication
Energy & Utilities
Retail/ Wholesale
Manufacturing
Transportation
Others
Enterprise Type
Large Enterprise
Small & Medium Enterprise
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