Cloud Computing Services Market Share & Size : Global Industry Analysis, Trends, Growth and Forecast To 2027
Cloud computing services deal with an extensive array of applications including storage, development platforms, servers and virtual desktops. Cloud computing services not only manage data but also make data processing simple by linking related devices with the network that possesses access to the data. In short, the aim of cloud computing is to allow users to take advantage of technologies without the need for any deep knowledge. Public cloud, private cloud, hybrid cloud, distributed cloud, community cloud, multi cloud and intercloud are some of the cloud computing models of deployment.
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Global Cloud Computing Services Market: Drivers
The ability of scaling up and down as per the requirement of business is one the most important advantages of cloud computing services. This particular feature is advantageous for companies that frequently introduce new products. This benefit is expected to boost the global cloud computing services market. Mobility is another driver which is creating positive impact on the cloud computing services market across the globe. With the increasing power and screen size in mobile phones it has become necessary to increase access and storage of data. Cost effectiveness is one of the major drivers for companies to select cloud computing services. The reason is it requires little or no physical maintenance cost. Shift from CAPEX to OPEX is the other factor which is fuelling the growth of the global cloud computing services market.
Many companies across the globe have realised that they should be responsive to the uncertain future in terms of consumer behaviour, new product development and technology adoption. Companies are therefore moving from a model where they are investing in generic infrastructure to a model where they invest in and focus on their core competencies with quick and agile organisational genetics. Business continuity is another factor which is expected to create robust development in the global cloud computing services market, as cloud computing services help businesses run uninterrupted.
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Global Cloud Computing Services Market: Restraints
The world has witnessed the jinx of cloud computing in several instances when the personal data and information of public figures has been leaked. It is definitely a risky move to turn over confidential data to the cloud, and this factor is hindering the growth of the global cloud computing services market. Inefficient disaster backup and error limitations are curbing the use of cloud computing services in the healthcare industry. There are security issues with cloud computing services which is hampering the development of the global cloud computing services market. Cloud data can be accessed from anywhere on the internet and therefore data security is the biggest concern in the global cloud computing services market.
Global Cloud Computing Services Market: Key Regions
Due to an increasing demand for efficient computing services that offer data sharing, cloud computing services have seen a remarkable adoption in North America, APEJ and in Europe. Due to its various benefits the cloud computing services market has its dominance in healthcare infrastructure and in the IT industry in North America.
Global Cloud Computing Services Market: Key Market Players
Yahoo! Inc., Cisco Systems, Taleo, Akamai Technologies, Vmware and Oracle are some of the key players in the global cloud computing services market across the globe.
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