Public Cloud Services Market - Industry Analysis, Size, Share, Growth 2024

Public Cloud Services Market: Overview

The public cloud services are provided by cloud computing model in a virtualized environment where services (application, storage and resources) are made available by shared physical resource and is accessible over a public network. So Public cloud services make applications and resource storage available to public through internet. Public cloud services enables end-user of any organization to use same services (platform, service or infrastructure) without knowing where the data would be stored and located.

The public cloud service offers storage of non-sensitive content, remote access to IT infrastructure, online office applications, webmail and online document collaboration from multiple locations. These services are offered either on free or pay-per-usage basis. It provides an alternative to on-premise applications and storage resources to the end-user. With the rise in trend adopting digital business approach and in order to reduce the expense towards maintenance and support systems for business continuity, organizations are shifting to public cloud services. The public cloud services are mostly adopted by businesses that require large investment in infrastructure which manage applications consumed by multiple users.

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Public Cloud Services Market: Key Growth Drivers

The major driving factors for the growth of global public cloud services market are rise in adoption of cloud services for production systems, Consumerization of IT sector and proliferation of internet. The other factors contributing to the growth of global public cloud services market are cost reduction, scalability and interoperability features, instant provisioning of services, low management and minimum investment in computing resources. However, data location reliability, security, data protection and slow internet connection collectively restrain the growth of global public cloud services market. Some other factors affecting the growth of public cloud services regionally are local economic factors, diverse landscape of local and global providers and regulatory issues.

The financial enterprises are expected to further expand the growth of global public cloud services market. The financial enterprise use public cloud services across retail banking platforms, websites and mobile applications. The Banking institutes such as De Nederlandsche Bank (DNB) in Netherlands and NASDAQ, a financial services provider in the US have adopted public cloud services and are gaining benefits of it.

Public Cloud Services Market: Segmentation

The global public cloud services market is segmented on the basis of service vertical, end-use adoption, enterprise and geography. On the basis of service global public cloud services market is segmented into Software-as-a-Service, Infrastructure-as-a-Service, Bussiness Process-as-a-service (BPaaS) and Platform-as-a-Service. In terms of end-use adoption, the global public cloud services market is segmented as IT and telecommunication, transportation, media, government, defense and others.

The others segment includes education and resource industries. The enterprise segment of global public cloud services market includes small and medium enterprises (SMEs) and large enterprises. Moreover, the geography segment consist of North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Public Cloud Services Market: Competitive Landscape

Rackspace Inc. is one of the leading provider of public cloud services in North America. It provides public cloud for corporate website building and can power critical workloads. It offers services in North America, Europe and Asia Pacific.

Some of the other key players of global public cloud service market are Amazon Web Services LLC, Oracle Corporation, Akamai Technologies Inc., Novell Inc., Microsoft Corporation, Netsuite Inc., Red Hat Inc. and Terremark Worldwide Inc. Some of the public cloud service platforms provided by organizations includes Google AppEngine, Amazon Elastic Compute Cloud (EC2), Sun Cloud, IBM's Blue Cloud and Windows Azure Services Platform.

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