USD 429.6 billion growth expected in Cloud Computing Market from 2022 to 2027 | Analysing Growth in Public cloud segment | 17,000+ Technavio Research Reports

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Feb 13, 2024, 18:52 ET

NEW YORK, Feb. 13, 2024 /PRNewswire/ -- The cloud computing market size is expected to grow by USD 429.6 billion from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 17.32% during the forecast period, according to Technavio. The growth by the public cloud segment will be significant during the forecast period. This is mainly due to the growth of the IT and BFSI sectors, and increasing globalization. The demand for public cloud services in the financial services industry is on the rise, particularly in developing economies such as China, India, and Mexico. This is because there is a growing number of SMEs in these countries that require solutions for business-related insights. The report offers an up-to-date analysis, and to know the exact growth variance and the Y-O-Y growth rate, Request Free Sample Report.

Technavio has announced its latest market research report titled Global Cloud Computing Market

The increased inclination toward cloud computing for cost-cutting is notably driving the industry. However, factors such as System integration issues may impede growth. The market is segmented by Deployment (Public cloud and Private cloud), Service (SaaS, IaaS, and PaaS), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies including Adobe Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Citrix Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., International Business Machines Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Rackspace Technology Inc., Red Hat Inc., Salesforce.com Inc., Tata Consultancy Services Ltd., Microsoft Corp., SAP SE, and VMware Inc.

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North America is estimated to account for 50% of the global growth during the forecast period. Enterprises from various industries, including government, IT, BFSI, and retail, among others, purchase services. Organizations are increasingly adopting solutions due to their cost-effectiveness, scalability, and minimal management requirements. The majority of the top services providers, such as AWS, Google, and others, have their headquarters in the US and are investing in the region to strengthen their offerings. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View PDF Free Sample Report

The Report reflects a dynamic landscape shaped by emerging technologies such as big data, AI (Artificial Intelligence), and machine learning (ML). This transformative shift is evident in the proliferation of customer-centric applications leveraging cloud-based infrastructure for scalability and agility. Enterprises are increasingly adopting cloud computing solutions for enterprise resource planning (ERP) and online transaction processing (OLTP), driving growth. The synergy between technologies amplifies operational efficiency and innovation. As organizations harness the power of the cloud, they unlock unparalleled opportunities for data-driven decision-making and competitive advantage. The Report serves as a compass, navigating businesses through this era of digital transformation.

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Healthcare Cloud Computing Market size is estimated to grow by USD 42.21 billion between 2022 and 2027 accelerating at a CAGR of 20.55% during the forecast period.

The cloud computing market share in the government sector is expected to increase by USD 25.41 billion from 2021 to 2026, and the growth momentum will accelerate at a CAGR of 14.04%.

ToC:

Excustive Summary

Landscape

Sizing

Historic Sizes

Five Forces Analysis

Segmentation by Deployment

Segmentation by Service

Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential markets and assess their competitive positions within changing scenarios.

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SOURCE Technavio