Public Cloud Services Market: Growth Catalysts, Market Trends And Key Players 2024

The global public cloud services market is driven by benefits of these services such as online office applications, remote access to IT infrastructure, storage of non-sensitive content, online document collaboration from multiple locations, and webmail. Organizations are shifting to public cloud services as their business approach is switching from on-premise to digital, so as to reduce the expenses for maintenance and support systems.

Business that require large investment for infrastructure are adopting public cloud services so as to manage applications used by more than one user. Public cloud services enable users of any organization to use platform, interface, or service and does not give information such as where the data will be stored. Due to all these reasons, it is estimated that the global public cloud services market will witness a considerable growth in the coming years.

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

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The growing use of public cloud services for production systems is one of the trends at present and this is creating growth opportunities in the market. The penetration of internet and consumerization of the IT sector are some of the factors encouraging the growth of the global public cloud services market. Moreover, the benefits of using public cloud services are many and this will help drive their adoption. Some of the benefits associated with the adoption of these services include, scalability, instant provisioning of services, cost reduction, low management, minimal investment in computing resources, and interoperability feature. On the other hand, factors posing a challenge for the market to grow, include slow internet connection, data protection, and data location reliability and security. The growth of public cloud services market is also restricted due local economic factors, regulatory issues, and diverse landscape

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.

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On the basis of geography, the global public cloud market is segmented into Europe, North America, Asia Pacific, and the Rest of the World. It is expected that public cloud services market in Asia Pacific will grow significantly, despite being on a nascent stage. This is because digital transformation is anticipated to take over in the coming years, boosting the public cloud services market.

Leading players operating in the global public cloud service market include, Amazon Web Services LLC, Akamai Technologies Inc., Red Hat Inc., Corporation, Novell Inc., Netsuite Inc., Microsoft Corporation, and Terremark Worldwide Inc. The business and financial overview of each of the companies are included in the report. Information regarding recent developments by companies and challenges faced by them are also given. Such data helps businesses formulate strategic decisions regarding investments in the market. Some of the public cloud service platforms provided by organizations includes Amazon Elastic Compute Cloud (EC2), Google AppEngine, Sun Cloud, Windows Azure Services Platform, and IBM's Blue Cloud.

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