Cloud Computing Market Worth $ 718.07 Billion, Globally, by 2027 at 13.9% CAGR: Verified Market Research

Growing digital transformation among industries, rising penetration of internet & mobile devices across the world, increase in consumption of big data are the primary drivers fostering market growth

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Verified Market Research

Oct 20, 2020, 14:07 ET

JERSEY CITY, N.J., Oct. 20, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Cloud Computing Market by Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), by Deployment (public cloud, private cloud, hybrid cloud), by End User (BFSI, IT and telecom, Manufacturing, retail and consumer goods, Media and entertainment, Government and public sector), Geography". According to Verified Market Research, the Global Cloud Computing Market was valued at USD 252.70 Billion in 2019 and is projected to reach USD 718.07 Billion by 2027, growing at a CAGR of 13.9% from 2020 to 2027.

Cloud Computing Market Analysis & Forecast, 2020-2027 (PRNewsfoto/Verified Market Research)

This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.

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Browse in-depth TOC on "Cloud Computing Market"

202 - Pages
126 – Tables
37 – Figures

Global Cloud Computing Market Overview

Factors such as growing digital transformation among industries, rising penetration of internet and mobile devices across the world, and increase in consumption of big data are the primary drivers fostering the market growth. The development of next-generation industrial solutions will be cloud enhanced and require a cloud platform to showcase their digital business capabilities. Furthermore, rise in adoption of Internet of Things (IoT), edge computing, 5G, use of real-time analytics enabled by Artificial Intelligence (AI) and Machine Learning (ML) is likely to boost the utility of this computing technology among organizations.

Some of the factors that are responsible for the growth of the market include increasing use of cloud-based solutions, increasing need for businesses to offer flexible work options to their employees as well as improved internet connectivity. The major players in the market are Google LLC, Amazon.com Inc., Oracle Corporation, Microsoft Corporation, Alphabet Inc, Inc., SAP SE, IBM Corporation, Alibaba Group Holding Ltd., Cisco Systems, and Adobe Systems Inc.

Verified Market Research has segmented the Global Cloud Computing Market on the basis of Service, Deployment, End user, and Geography.

Cloud Computing Market by Service

Infrastructure as a Service (IaaS)
Platform as a Service (PaaS)
Software as a Service (SaaS)

Cloud Computing Market by Deployment

public cloud
private cloud
hybrid cloud

Cloud Computing Market by End User

BFSI
IT and telecom
Manufacturing, retail and consumer goods
Media and entertainment
Government and public sector

Cloud Computing Market by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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