Cloud Computing Market Opportunities, Share Value, Key Insights … – Taiwan News Feedzy

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Cloud Computing Market Projected to Grow at 11% CAGR until 2028

The global cloud computing market experiences robust growth, driven by the accelerating adoption of advanced technologies like AI, IoT, machine learning, and big data. Moreover, the increased investment by small and medium-sized enterprises (SMEs) in cloud computing further propels this growth trajectory.

A recent study by strategic consulting and market research firm Report Ocean unveiled that the global cloud computing market, valued at USD 390 billion in 2021, is forecasted to expand at an approximate CAGR of 11%, reaching revenues of about USD 852 billion by 2028. This rapid market expansion is attributed to the widespread adoption of advanced technologies, enhancing business efficiency across diverse sectors. The significant investments made by SMEs in cloud computing to adapt to the evolving market conditions are expected to drive market growth. However, the shortage of cybersecurity-skilled human resources may hinder the market’s progress.

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Key Drivers and Segmentation

Cloud computing’s growing adoption among SMEs is particularly noteworthy, as it allows them to expand business operations, reduce costs, and enhance overall productivity. Furthermore, cloud computing offers benefits such as advanced data security, minimized downtime, flexible storage, and improved CRM management, proving to be cost-efficient for SMEs, thereby fostering market growth.

The banking, financial services, and insurance (BFSI) sector hold the largest market share due to increased adoption of cloud services in providing financial services like money transfers, real-time transaction details, and digital wallets. Meanwhile, the manufacturing sector experiences significant growth by leveraging advanced technologies such as AI and IoT to enhance operational efficiency.

Segmentation based on deployment models reveals that the private cloud segment dominates the market due to its extensive use by large organizations, offering superior data protection. However, the hybrid deployment model is anticipated to witness the highest growth rate during the forecast period, being adopted by both SMEs and large enterprises alike.

Regional Insights and COVID-19 Impact

North America currently leads the cloud computing market, but the Asia-Pacific region is anticipated to register the highest CAGR during the forecast period. The region sees increased digitization and the emergence of multinational cloud services startups like Alibaba and Tata Consultancy, driving market growth. The penetration of established players such as Microsoft, Google, and AWS in emerging economies also presents lucrative opportunities in the Asia-Pacific region.

The COVID-19 pandemic accelerated the cloud computing market’s growth, mainly due to the sudden shift to remote work, increased online payment demands, and a surge in internet traffic. Furthermore, the increased usage of entertainment and media platforms during quarantine periods, like YouTube, Twitch, and Amazon Prime, further contributed to market growth.

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Market OverviewMarket Size & Forecast by Value, 2018-2028By Value (USD Million)Market Share & Forecast

By Service ModelInfrastructure as a Service (IaaS)Platform as a Service (PaaS)Software as a service (SaaS)

By Deployment ModePublic CloudPrivate CloudHybrid Cloud

By Organization SizeLarge enterprisesSmall and medium-sized enterprises (SMEs)

By VerticalBanking, Financial Services, and Insurance (BFSI)TelecommunicationsIT And ITESGovernment and Public SectorRetail and Consumer GoodsManufacturingEnergy And UtilitiesMedia and EntertainmentHealthcare and Life SciencesOthers

By RegionNorth AmericaEuropeThe Asia PacificLatin AmericaThe Middle East and Africa

Competitive Landscape

The leading market players of the cloud computing market are Google, Adobe Inc., Workday, Inc., Alibaba Group Holding Ltd., SAP SE, Amazon Inc., Salesforce Inc., International Business Machines Corporation (IBM), Oracle Corporation, Microsoft Corporation, Databricks, Uptake Technologies Inc., Vlocity Inc., DigitalOcean, Inc., Box, Inc., Okta, Inc., Penguin Computing, Sabalcore Computing, Univa Corporation, and other prominent players.

The market is highly consolidated and dominated by multinational corporations such as Google Inc. and Amazon. The companies constantly launch new cloud offerings to expand their product portfolio and increase their product penetration. They also customize their offerings according to the size and needs of the organizations. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Dont miss the business opportunity of the cloud computing market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the cloud computing market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the cloud computing market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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Seizing Business Opportunities

Expert analysis provides insights on growth prospects, upcoming trends, and market statistics, assisting decision-makers in making informed strategic decisions to foster business growth.

Table of Contents:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

Key Reasons to Purchase this Report:

Strategic Direction
Comprehensive Analysis
Growth Opportunities
Competitive Landscape
Detailed Company Profiles
Future Market Outlook
Industry Analysis
Value Chain Insights

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