Cloud Professional Services Market worth $34.41 Billion by 2019
Browse 106 market data tables with 46 figures spread through 151 pages and in-depth TOC on "Cloud Professional Services Market by Service Type (Consulting, Integration, Deployment & Support), by Service Model (SaaS, PaaS, IaaS), and by Deployment Model (Public, Private, Others (Hybrid & Community)) - Global Forecast to 2019"
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Cloud professional services are broadly divided into cloud based consulting services including training and education services, assessment and advisory services, and risk evaluation services; system and network integration services including cloud application design and development services, cloud migration and up gradation services, application load and performance testing services, cloud expansion and bridging services; and deployment and support services including application monitoring, management and optimization services, data backup and recovery services, network and storage security services and compliance and security management services.
MarketsandMarkets has broadly segmented the cloud professional services market by type of services into consulting services, system and network integration services, and deployment and support services; service model into Software-as-as-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS); deployment model into private cloud, public cloud, and hybrid cloud; verticals into banking and financial services, insurance, public sector and utilities, transportation, healthcare, telecommunication and IT, education, retail, manufacturing, and others; and regions into North America (NA), Europe, Latin America (LA), Asia-Pacific (APAC), and Middle East and Africa (MEA).
MarketsandMarkets believes that the data security concerns associated with consumers regarding their critical data storage in the cloud and technological constraints giving rise to network and application performance issues are the major constraints in the cloud professional services market. These challenges carry significant potential of hampering the adoption rate of cloud professional services and solutions by numerous SMBs across a wide range of verticals.
The cloud professional services market is estimated to grow from $10.33billion in 2014 to $34.41 billion in 2019, at a Compound Annual Growth Rate (CAGR) of 27.2% from 2014 to 2019. Geographically, North America is expected to be the biggest market in terms of revenue contribution while Middle East and Africa (MEA), Latin America (LA) and Asia-Pacific (APAC) are expected to emerge rapidly in this market with high CAGRs.
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