Press release
Global Cloud Services Market Size, Share, Latest Trend, Top Companies, Distribution Channels and Growth Forecast Report, 2030
The public cloud remains the dominant deployment model, capturing a 55% share in 2024, owing to its affordability and scalability. While North America currently leads in market share due to early tech adoption, the Asia-Pacific region is poised to grow at the fastest rate, driven by economic expansion, digital transformation, and rising cloud awareness among SMEs and enterprises.
Browse the full report with a detailed analysis on: https://www.psmarketresearch.com/market-analysis/cloud-services-market
Key Insights
• The public cloud deployment model held a 55% market share in 2024, propelled by demand for affordable, scalable, and secure IT solutions among large enterprises.
• The hybrid cloud segment is expected to grow at the highest CAGR of 17.5% through 2030, offering flexibility by integrating private and public clouds and ensuring operational continuity during outages.
• SaaS (Software as a Service) leads the service type segment, accounting for 50% of the market in 2024 and projected to grow at a CAGR of 17.6%. Its popularity stems from low maintenance, easy deployment, and rising demand for CRM, ERM, and HCM tools.
• IaaS and PaaS also contribute significantly, with applications spanning disaster recovery, application development, analytics, and data management.
• Both large enterprises and SMEs are increasingly adopting cloud solutions to streamline costs, improve efficiency, and leverage pay-as-you-go models that minimize financial risks.
• Industry verticals embracing cloud services include BFSI, IT and Telecom, Healthcare, Manufacturing, Government, Media & Entertainment, Energy & Utilities, and Agriculture.
• North America dominates the market due to early technology adoption and mature cloud infrastructure, while Asia-Pacific is the fastest-growing region, driven by digitalization and increased cloud service penetration in developing economies.
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• The rise in IoT, connected devices, and wireless transmission technologies is amplifying the demand for cloud services, enabling real-time data processing and centralized monitoring across sectors.
• Wireless networking cloud integration enhances scalability, flexibility, and cost-efficiency by allowing seamless device connectivity and remote access via web-based dashboards.
• The market's consolidated nature reflects strong competition among established players, who are leveraging partnerships, acquisitions, and product innovations to maintain a competitive edge.
• Emerging opportunities lie in hybrid models and wireless cloud integration, which combine the benefits of various deployment types to meet diverse business needs.
• However, data privacy and cybersecurity remain key concerns. Potential risks such as data breaches, cyberattacks, and regulatory compliance issues may hinder market expansion if not addressed effectively.
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About P&S Intelligence
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
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