Public Cloud Application Services Market is Projected to Grow at a Strong CAGR of over 7.3% from 2020 to 2030 | FMI

The market for third-party providers' cloud-based apps and services, known as public cloud application services, is on the rise. It contains a variety of services, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS).

The market is anticipated to expand significantly in the next years as a result of rising company adoption of cloud computing, rising demand for scalable and affordable IT solutions, and rising availability of cloud services with increased security.

Additionally, the market is expanding as a result of the acceleration of the digital transformation as well as the rising demand for mobile and web-based applications. The market for public cloud application services would expand rapidly, forecasted Future Market Insights, at a rate of 23.7% CAGR, eventually reaching an estimated value of about US$ 130,550 million.

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Better security is always needed, and using cloud infrastructure has the added advantage of making secure access-even for remote access-simpler. As a result, public cloud services are increasingly being associated with corporate agility and speed.

The growth of Infrastructure as a Service (IaaS) has opened up new possibilities for employing public cloud services. As a result, there is no doubt that the enterprise IT value chain is evolving. A new trend in many firms is the combining of on-premises IT infrastructure with cloud architecture, and this cloud infrastructure continues to be the best way to deploy public IaaS.

Key Takeaways of Public Cloud Application Infrastructure Services Market Study

Among the application segment, the application infrastructure & middleware sub-segment is expected to witness a high growth rate during the forecast period, owing to the increasing adoption of digital business models, and modern application infrastructure to connect data, software, users, and hardware.
East Asia is expected to create lucrative growth opportunities for players in the public cloud application infrastructure services market, owing to the IT organizations migrating their business-critical infrastructure to the cloud, and increased adoption of hybrid IT, in the countries of this region.
Increasing Adoption of Public Cloud Application Infrastructure Services amid the COVID-19 Pandemic outbreak

The increasing work-from-home scenario amid global lockdowns due to the COVID-19 outbreak, would drive the market for public cloud application infrastructure services during Q2-Q4 2020. Public cloud application infrastructure service-based offerings such as application development, database management systems, business intelligence platform, and others would grow at an unprecedented rate. However, new technologies such as AI, Robotics, AR/VR, IoT, cognitive security, etc., would see a surge in adoption owing to the increasing new use cases and new market opportunities. In addition, the overall public cloud application infrastructure services market is projected to grow at an increasing rate, from Q1 2021 onwards.

Introduction of New Public Cloud Application Infrastructure Services to Remain Key Strategy

Key vendors focusing on public cloud application infrastructure platforms are strategizing to develop and innovate new services related to public cloud infrastructure technology in order to achieve full global coverage and enhanced customer experience.

In September 2019, Oracle partnered with VMware to provide support customers for implementing hybrid cloud strategies. According to this partnership, customers are able to execute their hybrid cloud strategies by using VMware Cloud Foundation on Oracle Cloud Infrastructure.
North America Market Set to Dominate the Global Public Cloud Application Services Market in Terms of Revenue

The market in North America is set to dominate the global public cloud application services market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America public cloud application services market is the most attractive market, growing at a robust CAGR over the forecast period.

More Valuable Insights on Public Cloud Application Infrastructure Services Market

FMI's report on the public cloud application infrastructure services market is segmented into five major sections such as application type (application development, application infrastructure & middleware, business intelligence platform, database management systems, others), platform services (data services, application platforms, integration services, development & lifecycle services, other platform services), enterprise (large enterprise, small & medium enterprise), vertical (government, BFSI, healthcare, telecommunication, media & entertainment, energy & utilities, retail/ wholesale, manufacturing, transportation, and others) and region to help readers understand and lucrative evaluate opportunities in the public cloud application infrastructure services market.

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Public Cloud Application Services Market: Segmentation

The global Public Cloud Application Services market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to readers.

By Application:

Business Intelligence Application
Customer Relationship Management
Digital Content Application
ERP Application
Enterprise Content Management
Office Suites
Project Management
Supply Chain Management
Social Software Suites
Application Software

By Enterprise:

Large Enterprise
Small & Medium Enterprise

By Vertical:

Government
BFSI
Healthcare
Telecommunication
Media & Entertainment
Energy & Utilities
Retail/ Wholesale
Manufacturing
Transportation
Others

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