The global cloud computing market size is estimated to grow from USD 766 billion in 2025, to USD 3.50 trillion by 2035, at a CAGR of 14.623% during the forecast period, till 2035.
Opportunities in the cloud computing market have been distributed across the following segments:
Type of Deployment Model
- Hybrid Cloud
Public Cloud
Private Cloud
Type of Service Model
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
- Software as a Service (SaaS)
Type of Solution
- Cloud Backup
- Cloud Migration
- Cloud Orchestration
- Cloud Security
- Cloud Storage
- Disaster Recovery
Type of Industry Vertical
- BFSI (Banking, Financial Services, and Insurance)
- Education
- Government
- Healthcare
- IT & Telecommunications
- Manufacturing
- Media & Entertainment
- Retail
- Others
Type of Service Providers
- Global Cloud Providers
- Regional Cloud Providers
Area of Application
- Business Process Management
- Data Management and Analytics
- Infrastructure Management
- Security and Compliance
- Others
End User
- Enterprises
- Government Organizations
- Individual Users
- Others
Type of Pricing Model
- Pay-As-You-Go
- Subscription-Based
Type of Technology
- Artificial Intelligence (AI)
- Containerization
- Edge Computing
- Machine Learning (ML) Integration
- Serverless Computing
- Virtualization
Company Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
Business Model
- B2B
- B2C
- B2B2C
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
CLOUD COMPUTING MARKET: GROWTH AND TRENDS
The cloud computing industry is a rapidly evolving field that transforms traditional IT frameworks by incorporating state-of-the-art technologies. This industry plays a crucial role in improving operations, efficiency, and financial performance for various business sectors. It includes a broad array of cloud offerings, such as infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS), all designed to enhance effectiveness and scalability while ensuring data protection and accessibility.
The growing need for adaptable and economical IT solutions has prompted a transition from conventional on-site systems to cloud-based services, boosting efficiency and reducing operational expenses. This transition reduces the necessity for substantial physical hardware and upkeep, enabling companies to adjust their operations flexibly. Additionally, the rising demand for data-driven insights and high-quality digital services encourages organizations to embrace cloud computing solutions, which aid in maintaining operational consistency and compliance with regulations.
Various firms are investing into the cloud computing sector, creating numerous opportunities; for example, in October 2023, Microsoft revealed a A$5 billion investment in computing capacity and capability to aid Australia in harnessing the AI era. However, the escalating costs of cloud services and potential security risks present challenges, especially for small and medium-sized enterprises (SMEs).Despite these obstacles, the market is experiencing remarkable growth due to opportunities for innovation and the emergence of advanced technologies, including Artificial General Intelligence (AGI) and the Internet of Things (IoT).
These advancements provide further opportunities for predictive analytics, improved security measures, and better decision-making abilities, suggesting that the global cloud computing market would grow at a healthy pace during the forecast period.
CLOUD COMPUTING MARKET: KEY SEGMENTS
Market Share by Type of Deployment Model
Based on the type of deployment model, the global cloud computing market is segmented into public cloud, private cloud, and hybrid cloud deployment models. Currently, public cloud segment captures the majority share of the market. Businesses can take advantage of lower infrastructure expenses and the capability to swiftly adjust resources according to demand, making it appealing for organizations of all sizes.
Moreover, the widespread usage of software-as-a-service (SaaS) and infrastructure-as-a-service (IaaS) offerings further accelerates the expansion of the public cloud sector. However, hybrid cloud segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Service Model
Based on the type of service model, the cloud computing market is segmented into service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Currently, software as a service (SaaS) segment captures the majority share of the market. This can be attributed to its widespread use across different sectors, offering cost-effectiveness, scalability, and easy access. Organizations prefer SaaS for its easy deployment and limited requirement for IT infrastructure, making it suitable for applications such as CRM, ERP, and collaborative tools.
Market Share by Type of Solution
Based on the type of solution, the cloud computing market is segmented into cloud backup, cloud migration, cloud orchestration, cloud security, cloud storage, and disaster recovery. Currently, cloud storage segment captures the majority share of the market. This can be attributed to the rapid increase in data and the demand for scalable, economical storage options.
Both businesses and individuals are increasingly turning to cloud storage for its ease of access, versatility, and capacity to manage large data volumes without substantial infrastructure costs. Moreover, cloud storage services play a pivotal role in enabling other cloud solutions, assisting with backup, disaster recovery, and migration tasks.
Market Share by Type of Industry Vertical
Based on the type of industry vertical, the cloud computing market is segmented into industry verticals, including BFSI (Banking, Financial Services, and Insurance), education, government, healthcare, IT & telecommunications, manufacturing, media & entertainment, retail, and others. Currently, IT & telecommunications segment captures the majority share of the market further, this segment is anticipated to grow at a higher CAGR in the future.
This can be attributed its critical requirement for adaptable and scalable infrastructure capable of handling large amounts of data processing, storage, and intricate applications. The early adoption of cloud technologies in this sector to enhance operational efficiency, lower costs, and improve service delivery reinforces its top status.
Market Share by Type of Service Providers
Based on type of service providers, the cloud computing market is segmented into global cloud providers and regional cloud providers. Currently, global cloud segment captures the majority share of the market. Major players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud hold a leading position in this sector. Their dominance stems from their vast infrastructure, wide-ranging service offerings, and capacity to cater to a global clientele. Their substantial investments in data centers, cutting-edge technology, and customer support enhance reliability, scalability, and performance, making them the top choice for businesses in need of strong and flexible cloud solutions.
Market Share by Area of Application
Based on area of application, the cloud computing market is segmented into business process management, data management and analytics, infrastructure management, security and compliance, and others. Currently, Data management and analytics segment captures the majority share of the market. This can be attributed to the increasing demand for actionable insights from large data sets. This is followed by the market share captured by security and compliance segment, owing to the need for strong data protection and adherence to regulations.
Market Share by End User
Based on end user, the cloud computing market is segmented into enterprises, government organizations, individual users, and others. Currently, enterprise segment captures the majority share of the market. This can be attributed to their demand for scalable solutions that boost productivity, collaboration, and data management. Government entities come in next, motivated by the need for secure, compliant, and effective infrastructure. This is followed by the market share captured by government organizations segment.
Market Share by Type of Pricing Model
Based on type of pricing model, the cloud computing market is segmented into pay-as-you-go and subscription-based models. Currently, pay-as-you-go model captures the majority share of the market. This can be attributed to its flexibility and cost efficiency, enabling businesses to pay solely for the resources they utilize, which is particularly appealing for variable workloads.
Market Share by Type of Technology
Based on type of technology, the cloud computing market is segmented into artificial intelligence, containerization, edge computing, machine learning integration, serverless computing, and virtualization. Currently, artificial intelligent segment captures the majority share of the market. This can be attributed to its capacity to enhance decision-making and automate processes across diverse industries, leading to a notable demand for cloud-based AI solutions.
Market Share by Company Size
Based on the company, the cloud computing market is segmented into large size companies and small and mid-size companies. Currently, large companies captures the majority share of the market. This can be attributed to necessary resources and capabilities to invest significantly in research and development, manufacturing infrastructure, and marketing, allowing them to offer cloud computing services at a lower cost per unit in comparison to smaller rivals. Moreover, there are cost-effective and high-quality cloud computing options available for medium and small enterprises.
Market Share by Business Model
Based on the business model, the cloud computing market is segmented into B2B, B2C and B2B2C. Currently, B2B segment captures the majority share of the market. This can be attributed to the growing use of cloud computing technology across various industries, including aerospace, manufacturing, healthcare, finance, and more. Additionally, the B2C model is predicted to experience significant growth at a robust CAGR during this forecast period as cloud computing technologies become increasingly user-friendly, and consumers are adopting these solutions for personalized applications, smartphone integration, and enhanced user experiences.
Market Share by Geographical Regions
Based on the geographical regions, the cloud computing market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World. Currently, North America captures the majority share of the market. This can be attributed to the presence of major technology companies that have created a strong ecosystem for innovation and development. This region is marked by significant advancements in cloud technologies, including artificial intelligence, machine learning, and big data analytics, which fuel demand for cloud services across diverse sectors. Moreover, considerable investments from both governmental and private entities in digital infrastructure and security enhance the cloud computing environment.
Sample Players in Cloud Computing Market Profiled in the Report Include:
- Adobe
- Alibaba Cloud
- Amazon Web Services
- App Maisters
- Box
- CenturyLink
- Cisco
- Citrix
- Cloudflex
- Cloudways
- DigitalOcean
- DXC Technology
- Epicor
- Fujitsu
- IBM
- Infor
- Intuit
- IFS
- JDV Technologies
- Joyent
- Microsoft
- Navisite
- NEC
- OpenText
- Oracle
- OVH
- pCloud
- Rackspace
- Sage
- Salesforce
- SAP
- ServiceNow
- Skytap
- Tencent Cloud
- Tudip Technologies
- Upland Software
- Visartech
- VMware
- Vultr
- Workday
- Zoho
- Zymr
CLOUD COMPUTING MARKET: RESEARCH COVERAGE
The report on the cloud computing market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the cloud computing market, focusing on key market segments, including type of deployment model, type of service model, type of solution, type of industry vertical, type of service providers, area of application, end user, type of pricing mode, type of technology, company size, business model and geographical regions
- Competitive Landscape: A comprehensive analysis of the companies engaged in the Cloud computing market, based on several relevant parameters, such as year of establishment, company size, location of headquarters, ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the Cloud computing market, providing details on location of headquarters, company size, company mission, company footprint, management team, contact details, financial information, operating business segments, Cloud computing portfolio, moat analysis, recent developments, and an informed future outlook.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in cloud computing market?
- Which are the leading companies in this market?
- What is the significance of edge AI in the cloud computing market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
- Which type of cloud computing is expected to dominate the market?
REASONS TO BUY THIS REPORT
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Adobe
- Alibaba Cloud
- Amazon Web Services
- App Maisters
- Box
- CenturyLink
- Cisco
- Citrix
- Cloudflex
- Cloudways
- DigitalOcean
- DXC Technology
- Epicor
- Fujitsu
- IBM
- Infor
- Intuit
- IFS
- JDV Technologies
- Joyent
- Microsoft
- Navisite
- NEC
- OpenText
- Oracle
- OVH
- pCloud
- Rackspace
- Sage
- Salesforce
- SAP
- ServiceNow
- Skytap
- Tencent Cloud
- Tudip Technologies
- Upland Software
- Visartech
- VMware
- Vultr
- Workday
- Zoho
- Zymr
Methodology
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