USD 445 billion
Global Cloud Computing Market Size, Share, Growth Analysis, By Deployment Type(Private Cloud, Public Cloud), By Service Model(Service (IaaS), Platform as a Service (PaaS)), By Industry Vertical(Government, military & defense) - Industry Forecast 2022-2028
Report ID: SQMIG45D2031 | Region: Global | Published Date: November, 2022 | Pages: 173 | Tables: 102 | Figures: 76
Global Cloud Computing Market Insights
Global Cloud Computing Market was valued at USD 445 billion in 2021 and it is expected to reach at USD 1281 billion by 2028, with CAGR of 16.3% over the forecast period (2022-2028).
Cloud computing is the delivery of hosted services over the internet, including software, servers, storage, analytics, intelligence, and networking. Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS) are three types of cloud computing services (PaaS). The expanding usage of cloud-based services and the growing number of small and medium businesses around the world are the important drivers of market growth. Enterprises all over the world are embracing cloud-based platforms as a cost-effective way to store and manage data. Commercial data demands a lot of storage space. With the growing volume of data generated, many businesses have moved their data to cloud storage, using services like Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
Growing need to regulate and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX), as well as the increasing volume of data generated in websites and mobile apps, are a few drivers of emerging technologies. Emerging technologies like big data, artificial intelligence (AI), and machine learning (ML) are gaining traction, resulting in the global cloud computing market growth. The cloud computing market is also driven by major factors such as data security, Faster Disaster Recovery (DR), and meeting compliance standards.
Market snapshot
Global Market Size
Largest Segment
Hybrid Cloud
Fastest Growth
Hybrid Cloud
Growth Rate
16.3% CAGR
Global Cloud Computing Market, 2021-2027 ($ Mn)
Country Share for North America Region- 2021 (%)
Global Cloud Computing Market Size By Deployment Type ,2021-2027 ($ Mn)
Global Cloud Computing Market Size By Deployment Type, 2021-2027 (%)
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Global Cloud Computing Market Segmental Analysis
Global cloud computing market is segmented on the basis of deployment type, service model, industry vertical, and region. Based on the deployment type, the market is segmented into private cloud, public cloud, and hybrid cloud. Based on the service model, the market is segmented into infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS). Based on industry vertical, the market is segmented into government, military & defense, telecom & it, healthcare, retail, and others. Based on region, it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Deployment Type
In 2021, hybrid cloud segment held a significant share of more than 25% share in the global cloud computing market. The segmental growth is attributed to the certain advantages offered by hybrid cloud when compared with other deployment type. Using a hybrid cloud allows businesses to scale computer resources while also reducing the need to invest large sums of money to handle short-term spikes in demand, as well as freeing up local resources for more sensitive data or applications.
Analysis by Service Model
In 2021, the Software as a Service (SaaS) segment held a significant share of more than 25% share in the global market. The segmental growth is attributed to the ease of deployment of Software as a Service (SaaS) usage, cost-effectiveness, and low maintenance costs. Whereas, infrastructure as a service (IaaS) is expected to grow at the fastest rate. The rising need for storage and security of business data solutions is attributed to the growing popularity of the platform.
Analysis by Industry Vertical
In 2021, the government segment held a significant share of more than 18% share in the global market. The segmental growth is attributed to the increased demand from the BFSI sector. The BFSI sector has witnessed an upsurge in online banking activities, which has encouraged money lenders to more emphasis on digital transformation, with cloud computing playing a key role in this approach.
Global Cloud Computing Market By Deployment Type , 2021(%)
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Global Cloud Computing Market Regional Insights
Based on the geography, the global cloud computing market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the North American region is projected to hold the most substantial share of more than 25% in the global market. This is attributed to the presence of the key players operating in the market. Companies in the United States are the early adopters of next-generation technologies such as big data analytics, Internet of Things, AI, AR, ML, and VR, as well as the latest communications technologies such as 4G, 5G, and LTE. Businesses in the United States are continuing to embrace cutting-edge technology, which promises well for future growth of the market.
On the other hand, the Asia-Pacific region is projected to grow at a significant rate during the forecast period. A few factors pushing cloud computing usage in this region include the increased availability of skilled labor and the intense focus offered by SMEs and major organizations to enter and grow in this region. Cloud computing has become the basis of how firms work nowadays, as they strive for increased company agility and consumer satisfaction. Organizations are attempting to improve application performance while also providing a positive user experience, which is contributing to regional growth.
Global Cloud Computing Market By Geography, 2021 - 2027
- Largest
- Fastest
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Global Cloud Computing Market Dynamics
Drivers
- Increased RoI with lower storage and infrastructure costs is the major driver for market growth. Enterprises are concerned about the expenses of data hosting on-premises, both in terms of implementation and maintenance. Electricity prices, employee expenses, and downtime issues are a few other concerns for companies. The current competitive environment and global economic conditions have hastened the use of cost-effective business model restructuring measures. This has significantly encouraged the use of cloud-based services, in turn, contributing to the growth of the market.
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Fuelling the market growth by integration of Big Data, AI, and ML with Cloud.
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Visualization capabilities are improving and complex data are made accessible and usable by adopting these developing technologies in conjunction with cloud solutions . One of the major problems of data storage is reduced significantly and data usage has scaled in Business technologies all around the globe due to widespread adoption of AI and ML. These integration of technology will aid in increasing business productivity, improving decision-making processes, and lowering operating expenses.
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- mmajor factor that negatively impacts the growth of the market includes the need to manage regulatory and compliance policy needs. Due to changing business needs, increasing data breaches and cyber-attacks, and expanding data security concerns, the need to meet regulatory and compliance requirements is continually increasing, which is hampering market growth.
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Global Cloud Computing Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Cloud Computing Market
- Accenture PLC (Ireland)
- Adobe, Inc. (US)
- Alibaba Cloud International (China)
- Amazon Web Services, Inc. (US)
- Apple, Inc. (US)
- AT&T, Inc. (US)
- Cisco Systems, Inc. (US)
- Citrix Systems, Inc. (US)
- Dell, Inc. (US)
- Google LLC (US)
- Hewlett Packard Enterprise Development LP (US)
- IBM Corp. (US)
- Intel Corp. (US)
- Microsoft Corp. (US)
- NetSuite, Inc. (US)
- Oracle Corp. (US)
- Salesforce.com, Inc. (US)
- SAP SE (Germany)
- Verizon Enterprise Solutions (US)
- Yahoo, Inc. (US)
Recent Developments
- In March 2022, Microsoft Corporation launched Azure Health Data Services. It is a platform as a service (PaaS) specifically designed to support both analytical and transactional workloads. It unifies health data and powers Artificial Intelligence (AI) in the cloud, exclusively supporting Protected Health Information (PHI).
- In February 2022, Kyndryl partnered with Amazon Web Services to launch an AWS cloud center of excellence. Through this partnership, Kyndryl plans to build its own infrastructure in AWS cloud.
- April 2022, Salesforce launched Customer Relationship Management (CRM) Analytics in every industry. It is a PaaS model, AI-powered data and analytics solution that enables Salesforce customers across every industry to provide predictive insights. The customers can put any data at the center of CRM.
- In September 2021, Salesforce announced the release of Health Cloud 2.0. It is a Salesforce-connected platform that enables the organization to provide increased safety to its employees and consumers through several modules such as Dreampass and Contact Tracing.
- In December 2020, Amazon HealthLake, a new product launched by Amazon Web Services. It's a service aimed at consumers in the healthcare and life sciences industries. It assists organizations in aggregating, labeling, indexing, and structuring data from silos, as well as processing it using machine learning capabilities to generate insights.
Global Cloud Computing Key Market Trends
- The key trend driving cloud computing market is the increasing shift of businesses toward digital transformation and the enhancement of customer experience. The cloud offers the pay-as-you-go approach, which allows businesses to pay for cloud services based on how often they use them, resulting in lower prices. Due to the sheer benefits of cloud services, such as on-demand availability and low cost, companies are increasingly adopting them. This thus contributes to the growth of cloud computing market growth.
Global Cloud Computing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, with the emergence of work-from-home (WFH) culture, cloud computing market size will gain significant traction. Large enterprises and small and medium-sized businesses are increasingly deploying cloud systems for a variety of use cases, including software development and testing, big data analytics, and customer-facing web applications. Other potential factors driving market growth include data backup, virtual desktops, email, and disaster recovery..
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 445 billion |
| Market size value in 2028 | USD 1281 billion |
| Growth Rate | 16.3% |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Cloud Computing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Cloud Computing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Cloud Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cloud Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Cloud Computing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Cloud Computing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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