Cloud Computing Market Expansion Continues, with Forecast Valuation of $1477.12 Billion by 2029

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Cloud Computing Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the size of the cloud computing market has seen a significant expansion. The market's worth, which stands at $735.45 billion as of 2024, is expected to escalate to $832.8 billion by 2025, marking a compound annual growth rate (CAGR) of 13.2%. The notable growth registered during the historic period is a consequence of factors such as data security and compliance, digital transformation, the widespread use of containerization and microservices, a rising demand for remote teamwork, and the broadening horizons of business operations globally.

Cloud Computing Market Size Forecast: What's the Projected Valuation by 2029?
The upcoming years are likely to witness a fast-paced expansion in the cloud computing market, with the anticipated size predicted to reach $1477.12 billion by 2029, propagating at a compound annual growth rate (CAGR) of 15.4%. This projected growth during the forecast period can be ascribed to the amalgamation of artificial intelligence (AI) and machine learning (ML), the surging demand for Internet of Things (IoT), ongoing advancements in cybersecurity, the ability to interoperate across several clouds, and the integration of quantum computing. The forecast period is poised to observe major trends like the growth of edge computing, maturity of serverless computing, incorporation of AI and ML, and the evolution of hybrid and multi-cloud systems.

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What Are the Drivers Transforming the Cloud Computing Market?
The enlargement of the cloud computing market is anticipated to be fueled by the escalating acceptance of the internet of things (IoT). The internet of things (IoT) symbolizes a network of interconnected devices that collate and disseminate data with other IoT apparatus and the cloud. The adoption of the internet of things (IoT) is promoted by its ability to enrich efficiency, connectivity, and data-fueled decision-making across an array of industries, paving the way for increased productivity, economizing costs, and formulating innovative solutions. IoT and cloud computing are utilized jointly to form robust and scalable solutions for gathering, safeguarding, dissecting, and implementing data produced by IoT appliances. For example, as per a report in February 2024 by DataProt, a Ukrainian cybersecurity product corporation, it is projected that active IoT devices will exceed 25.4 billion by 2030. Moreover, by 2025, approximately 152,200 IoT devices will be connecting to the internet every minute. As a result, the rising acceptance of the internet of things (IoT) is projected to push the cloud computing market's growth.

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What Long-Term Trends Will Define the Future of the Cloud Computing Market?
Key players in the cloud computing market are introducing groundbreaking technologies like hybrid cloud mesh to boost their market earnings. This technology merges on-premises, private, and public clouds, thereby improving resource usage and scalability. The objective is to deliver a versatile and effective infrastructure, enabling businesses to strike a balance between performance, security, and cost-efficiency across different cloud environments. For example, in May 2023, IBM Corporation, a technology firm based in the US, released a hybrid cloud mesh with heightened security. This cutting-edge SaaS offering allows businesses to reclaim control over their hybrid, multi-cloud infrastructure by facilitating application-centric connectivity. It also offers in-depth understanding of how businesses can utilize an automated, smart, and optimized network for smooth operations, even when using public cloud infrastructure. IBM's hybrid cloud mesh is designed to address many complexities and effectively implement multi-cloud strategies, establishing a shared platform for CloudOps and DevOps to collaborate to achieve business goals, therefore reducing the time to market for new apps and services.

Which Segments in the Cloud Computing Market Offer the Most Profit Potential?
The cloud computingmarket covered in this report is segmented -

1) By Type: Public Cloud, Private Cloud, Hybrid Cloud
2) By Service: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS)
3) By Vertical: Banking, Financial Services And Insurance (BFSI), Energy And Utilities, Government And Public Sector, IT And ITES, Retail And Consumer Goods, Manufacturing, Media And Entertainment, Healthcare And Life Sciences, Other Verticals

Subsegments:
1) By Public Cloud: Infrastructure As A Service (IaaS), Platform As A Service (PaaS), Software As A Service (SaaS), Cloud Storage Services
2) By Private Cloud: Managed Private Cloud, On-Premises Private Cloud, Virtual Private Cloud, Private Cloud Solutions For Specific Industries
3) By Hybrid Cloud: Hybrid Cloud Integration Services, Cloud Management Platforms, Hybrid Infrastructure Solutions, Multi-Cloud Strategies

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Which Firms Dominate the Cloud Computing Market by Market Share and Revenue in 2025?
Major companies operating in the cloud computing market are Amazon.com Inc., Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Tencent Holdings Limited, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Salesforce Inc., NEC Corporation, Adobe Inc., VMware Inc., Intuit Inc., ServiceNow Inc., Workday Inc., Infor Inc., OpenText Corporation, Citrix Systems Inc., Rackspace Technology Inc., Sage Group plc, Lumen Technologies Inc., IFS AB, Epicor Software Corporation, OVH SAS, DigitalOcean LLC, Upland Software Inc., Navisite LLC, Skytap Inc., Joyent Inc.

Which Regions Offer the Highest Growth Potential in the Cloud Computing Market?
North America was the largest region in the cloud computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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