USD 20.26 Billion
Report ID:
SQMIG45E2250 |
Region:
Global |
Published Date: August, 2024
Pages:
196
|Tables:
0
|Figures:
0
Global Cloud Professional Services Market size was valued at USD 20.26 Billion in 2022 poised to grow from USD 25.6 Billion in 2023 to USD 80.08 Billion by 2031, growing at a CAGR of 16.5% in the forecast period (2024-2031).
On-demand by cloud service providers and other hired experts for "cloud professional services" are targeted advice-giving and participative activities to help companies in adopting, implementing, and maximizing the use of cloud-based solutions. Thus, those types of services provide support to organizations that intend to take full advantage of the merits attributed to cloud computing while grappling with its challenges such as architectural design, security measures, regulations, data transfer and overall improvement in performance. The undertakings embraced include a cloud strategy, workloads evaluation, migrations arrangement, applications reworking, infrastructure deployment, and ongoing management. The services are tailored to the unique demands of every business hence facilitating efficient utilization of cloud resources in improving scalability, flexibility and reducing costs.
The global market is being driven by the growing emphasis on digitizing business processes. Furthermore, the burgeoning automation tendencies are largely responsible for the increasing popularity of robotics in the manufacturing sector. Consequently, this is significantly boosting the demand for cloud professional services that specialize in robotics-related application deployment onto cloud systems. To develop a hybrid cloud environment that is completely dynamic, service providers are merging cloud systems with machine learning (ML), advanced analytics tools, artificial intelligence (AI), and development and operations (DevOps) techniques. Apart from integrating all these factors together, this combination has contributed to an increased growth rate of the market as there is an urgent need for adaptable IT ecosystems in order to remain competitive amidst the ever-changing dynamics of the marketplace.
Global Market Size
USD 20.26 Billion
Largest Segment
Infrastructure as a Service (IaaS)
Fastest Growth
Platform as a Service (PaaS)
Growth Rate
16.5% CAGR
To get more reports on the above market click here to Buy The Report
The Global Cloud Professional Services Market is segmented based on Service Type, Service Model and Deployment Model. Based on Service Type, the market is grouped into Consulting, Integration & Optimization, Implementation & Migration and Application Development & Modernization. Based on the Service Model, the market is trifurcated into Platform as a Service (PaaS), Software as a Service (SaaS) and Infrastructure as a Service (IaaS). Based on Deployment Model, the market is divided into Public Cloud and Private Cloud. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa.
Analysis by Service Model
As per categorization by service model, the market is classified as platform as a service (PaaS), software as a service (SaaS) and infrastructure as a service (IaaS). Among these, infrastructure as a service earned the largest share and continues to dominate the market. In the global cloud professional services market, high levels of automation for improved efficiency, cloud elasticity and cost cutting are promoting innovations in IaaS. Due to its flexibility that allows firms to launch as well as run the applications at the best costs, IaaS has become popular with all types of organizations. As a result, information technology becomes a flexible and scalable system.
As Platform as a Service (PaaS) may simplify application development, lower complexity, and improve collaboration, it is predicted to grow at the quickest rate in the global cloud professional services market. Platform as a service offers consolidated ecosystems for creating, testing and releasing software applications which enables companies to quicken their inventive processes and reduce periods needed to introduce new products into markets.
Analysis by Deployment Mode
Global scalability, improved security, and AI integration are the three main areas of innovation in public cloud services within the global cloud professional services market. It's cost-effective, easily reached by users and can be scaled upon request; hence it leads them all in the industry. For organizations seeking to reduce infrastructure spending while enhancing adaptability rates.
The global cloud professional services market is expected to have rapid growth in the private cloud segment due to its superior security, compliance, and customization features. It will suit firms that have high legal requirements as well as the need for managing private information since it enables them to have additional control over their data and applications.
To get detailed analysis on other segments, Request For Free Sample Report
Asia-Pacific's rapid digital transformation, strong economic growth, and rising cloud use across industries have made the region the leader in the global market for professional cloud services. Major motivators include leading technology companies, significant spending on IT infrastructure and cloud computing facilitating Indian Government programs. China, India and Japan are among the leading countries that have taken advantage of advanced modern cloud technologies to become more competitive and efficient in their operations. Another factor driving market growth is the large, heterogeneous customer base in the region demanding flexible and scalable cloud services. With an increase in talent pools as well as strategic partnerships, Asia Pacific is at the forefront of this industry with respect to skills in cloud computing.
North America is the fastest-growing region on the planet when it comes to cloud professional services due to its superior technological infrastructure, high rates of cloud adoption and major cloud service providers investing heavily in this sector. There is a strong demand for these services due to an increasing focus on digital transformation by public sector organizations and corporate entities. In addition to this, major cloud players such as Google, Microsoft and Amazon Web Services expedited their service delivery as well as innovations. Also, strong cyber security laws in the region alongside the regulatory framework have propelled cloud computing in that companies seek for legal and secure online platforms which will enhance productivity and competitive advantage.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Drivers
The cloud is essential to an organization's ability to survive lockdown situations and inconsistent IT infrastructure as it allows for speedier innovation, which improves agility, responsiveness, and speed to market. In addition, greater readiness to embrace public and hybrid clouds exists; as 68% of small companies appreciate the public cloud’s cost cutting method.
Around the world, more and more businesses are implementing machine learning and artificial intelligence technologies. During the pandemic, while most organizations supported digital infrastructure in order to help remote workers and ensure smooth operations, they began to think that AI-ML-based cloud applications could support data analysis, insights and automation of menial tasks on a massive scale.
Restraints
Integrating cloud technologies with old systems at enterprises can take a long time and cost a lot of money as it is not easy to do so. There may also be problems of compatibility that can arise, leading to issues in migrating data along with increased costs for IT.
The lack of qualified experts with knowledge of cloud technologies is a major barrier to the growth of the global market for professional cloud services. Finding and keeping individuals with the knowledge needed to efficiently manage, optimize, and secure cloud environments is a common challenge for organizations.
Request Free Customization of this report to help us to meet your business objectives.
The competitive atmosphere of the global cloud professional services market is characterized by fast-paced new developments and an extensive variety of services. Key actors in this space include big international companies that provide all-encompassing cloud solutions such as Google Cloud, Microsoft Azure, IBM and Amazon Web Services (AWS). As these companies seek to expand their presence internationally to meet the ever-growing demand for cloud solutions in various sectors, they also use their technical capabilities to enhance service provision and nurture partnerships that are strategically aligned.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global cloud professional services market is rapidly evolving, driven by the increasing need for businesses to leverage cloud technologies for scalability, flexibility, and cost-efficiency. To ease the process of moving to the cloud, cloud service providers have developed specialized services that handle issues like integration and security.
With trends like hybrid cloud adoption and a growing focus on security, the market is set for continued growth. Some of the notable players including Amazon Web Services, Microsoft, and Oracle are making great strides in their products while improving on their edge over other competitors. Digital transformation is happening fast, and this means that there will be more demand for cloud professional services which would determine how business will be done.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 20.26 Billion |
Market size value in 2031 | USD 80.08 Billion |
Growth Rate | 16.5% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
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 |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Cloud Professional Services 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 Cloud Professional Services 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cloud Professional Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cloud Professional Services 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45E2250