Cloud Professional Services Market To Touch USD 73.3 Billion Revenue by 2030, Says P&S Intelligence

NEW YORK, April 24, 2023 /PRNewswire/ -- The total size of the cloud professional services market will advance at a rate of 17.3%, reaching USD 73.3 billion by 2030, as stated by P&S Intelligence.

The rising acceptance of cloud computing, particularly with the increase in the usage of remote working models throughout the pandemic, is powering the requirement for cloud-based services.

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Consequently, numerous companies are delivering cloud-based services for organizations of all sizes for helping them manage their IT infrastructure more efficiently and affordably.

Public Cloud Is More Used

• Public cloud dominates the industry, and the situation will be like this in the years to come.
• It is delivered by a third party over the public internet and is available to everyone who requires it.
• In this method, numerous resources, for example, storage and other pieces of hardware, virtual servers, and applications, are obtainable over the internet, for meeting users' requirements for scalability, pay-as-per-use pricing, and deployment ease.

IaaS Demand Will Grow Fastest

IaaS will propel at a rate of 17.9% in the years to come. This platform delivers servers, memory, networking, storage, software, and connected hardware as a cloud service, letting firms replace their on-premises servers.

It offers flexibility to the user when they need tailored apps or standard software and also provides a repository for data storage. Customers make use of these services on the internet, through a pay-as-per-use model.

PaaS Demand Will also Rise Steadily in Coming Years

• The requirement for PaaS is on the rise amongst organizations for enhancing productivity, speed, security, and efficiency, which are significant performance markers.
• Furthermore, the demand for PaaS is driven by the requirement for reducing the time to market and the expenditure on the development of mobile and computer applications.

Cloud Professional Service Providers Have Vast Potential in APAC

APAC will grow at a rate of 18.2% in the years to come. The growth is mainly because with the support of the cloud, companies can reduce their operating expenditures, optimize their IT setup, and enhance their operational efficiency.

The growing requirement for mobility and the current cloud trends in India, Japan, and China are also powering the advance of the industry.

Browse detailed report on Cloud Professional Services Market Share, Growth, Development and Demand Forecast to 2030

Previously, corporations were dependent upon on-premises hardware, but with the outbreak of the pandemic, the situation changed considerably. Companies are adopting cloud-based services for providing better experiences to clients and enabling remote working.

Cloud Platforms Being Integrated with ML and AI

One of the biggest trends in the worldwide cloud space is the integration of ML and AI into such platforms to enhance business agility. AI and ML can automate tasks and offer richer insights into voluminous data, via its efficient analysis.

Cloud Professional Services Market Segmentation Coverage in the Report

Cloud Professional Services Market by Service Type

• Consulting
• Integration & Optimization
• Implementation & Migration
• Application Development & Modernization

Cloud Professional Services Market by Service Model

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

Cloud Professional Services Market by Deployment Model

• Public Cloud
• Private Cloud

Cloud Professional Services Market by Organization Size

• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

Cloud Professional Services Market by Vertical

• Banking, Financial Services, and insurance (BFSI)
• Retail & Consumer Goods
• IT & ITeS
• Telecommunications
• Healthcare & Life Sciences
• Manufacturing
• Energy & Utilities
• Government & Defense

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence